Arbitrum Price Forecast: May 25
The Arbitrum price forecast is for the market to violate the descending trendline and surge upward.
Arbitrum Long-Term Trend: Bullish (4-hour Chart)
Key Levels:
Zones of supply: $1.2880, $1.3310, $1.4360
Zones of Demand: $1.1910, $1.1550, $1.0620
Since the Arbitrum market tested the $1.8170 resistance level and dropped back below $1.5930, the market seems to have been capped by a descending trendline which has ushered it down to $1.0620. The time has now come for the market to violate the trendline and use the accumulated strength for an upsurge beyond the $1.3310 key level.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum market surged from the $1.1550 key level in mid-April after a short period of consolidation. The price surged upward to reach the $1.8170 resistance level where its bullish moment was halted.
The price couldn’t stabilize above the $1.5930 key level either. Hence, the price dropped to $1.3310 and $1.0620. All the while, the coin was capped by a descending trendline.
The time has come for the price to violate the trendline as the buyers have been able to strengthen. The market has the task of trading above the MA period 25 (Moving Average) to violate the trendline.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
The MACD (Moving Average Convergence Divergence) lines on the 4-hour chart are reacting close to the zero line, although the market has declined since. This is more pronounced in the 1-hour chat, though. The line is about to move upward after the latest dip in the price.
The MA period 25 line has stopped close to the latest candlestick on the 1-hour chart, making it easier to breach before the coin rises higher to break through the descending trendline and surge upward towards the $1.3310 significant level.
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