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Arbitrum Price Forecast: June 19
The Arbitrum price forecast predicts that the market will continue to rise this week, building upon the bullish setup from last week.
Arbitrum Long-Term Trend: Bullish (4-Hours Chart)
Key Levels:
Zones of supply: $1.0620, $1.1100, $1.1550
Zones of Demand: $0.9280, $0.9700, $1.0310
The general structure of the Arbitrum market shows that the coin has been trading under bearish pressure lately. This started when the price did not convincingly bypass the $1.8170 critical level. However, the bulls have revived to suppress the bearish pressure at $0.9280. This led to a bullish setup, which the coin will continue this week.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum buyers have started gaining traction. This is more so because the bulls found the coin attractive at the low $0.9280 level and decided to buy into its potential.
Following that are a series of reversal candlesticks, which show that the bulls are pushing back against the bearish pressure. In the new week, we expect more upward movements.
The MACD (Moving Average Convergence Divergence) lines are sliding under the zero level to show the prevailing bearish influence, but an upward cross of the line is a sign of a price reversal.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
The Parabolic SAR (Stop and Reverse) dots are stacked above the daily candlesticks to show the current state of the market. Nevertheless, the dots on the 4-hour chart have switched the candlesticks after the price bounced off the $0.9280 key level.
The MACD lines on the 4-hour chart have also made tremendous progress compared to those on the daily chart. The lines have crossed upward and risen above the zero level. This confirms the increasing investment of the buyers and the progress made. ARBUSD expects to push $1.1100 before further reactions.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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