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Arbitrum Price Forecast: December 18
The Arbitrum market expectation is for the price to force itself against the $1.1100 – $1.1550 resistance zone for a potential breakout.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $1.1100, $1.1550, $1.1910
Zones of Demand: $1.0620, $0.9700, $0.7660
ARBUSD is poised for a make or break move beyond the $1.1550 resistance level whose influence stretches to $1.1100. The market has been trying to cross over the region with searing moves since early November but has been to no avail. Nevertheless, the coin keeps rising along a trendline. The price is now bordering the $1.1100 level and is set to make a move that will either cleanly violate the resistance zone or get rejected and fall off the trendline.
Arbitrum Price Forecast: ARB/USD Outlook
ARBUSD stands at the precipice of a pivotal moment, teetering on the verge of a decisive move beyond the $1.1550 resistance level, which extends its influence to $1.1100.
The market, with persistent efforts since early November, has sought to breach this critical region, all while tracing an upward trendline. The current juncture sees the price hovering near the $1.1100 level.
ARBUSD is now poised for a move that will either breach the resistance zone decisively or face rejection, potentially deviating from the established trendline.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
Overcoming the initial challenge involves surpassing the MA period 20 (Moving Average) on the daily chart, paving the way for an attempt to surge beyond the resistance zone. The RSI (Relative Strength Index) line, steadfastly holding above the 50 mark, indicates a positive momentum, with the price now striving to reach the overbought region.
On the 4-hour timeframe, a parallel task awaits, as the price aims to ascend beyond the MA period 20. Despite a brief dip below the 50 mark, the RSI indicator has exhibited resilience, making a robust upward move to reenter bullish territory. Arbitrum faces a make-or-break scenario, but the prevailing bullish resilience is anticipated to guide it through this critical phase.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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