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Arbitrum Price Forecast: April 7
The Arbitrum price forecast is for the market to make the push upward and continue with the bullish flow.
Arbitrum Long-Term Trend: Bullish (4-hour Chart)
Key Levels:
Zones of supply: $1.3310, $1.4360
Zones of Demand: $1.2190, $1.1100
Arbitrum has formed a double-bottom bullish pattern as the bulls take the early lead in the market. The price has completed its test of the demand level and is on the verge of shooting upward. However, the bulls are currently gathering strength above $1.1910. There is an anticipation of a surge afterward.
Arbitrum Price Forecast: ARB/USD Outlook
The bulls are set to take control of the market as it begins its lifecycle. The price is immediately conforming to a double-bottom bullish pattern to push up the level of the market.
The $1.1100 significant level stands as the demand level of the bullish structure, and the formation has bounced a second time on it. The last arm of the structure is being built.
The market is taking its time to push up and create the last arm of the structure. As a result, the MACD (Moving Average Convergence Divergence) lines which were rising steadily, started moving sideways just below the zero level.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
The MA period 20 (Moving Average) is along the candles as it tries to build the last arm of the double-bottom bullish structure. The price will have to trade above it to complete its arm. The 1-hour timeframe is identical in that the MA period 20 is predominantly above the candles, and it will take effort to trade above it.
The MACD on the lower time frame keeps making higher lows as it progresses toward the zero level. Currently, the price is ranging above the $1.1910 key level. The buyers are very active, and shortly we should see the upward flow in the price, which will fancy the opportunity to break the $1.4360 neckline and rise higher.
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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