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Arbitrum Price Forecast: October 30
The Arbitrum price forecast is for the coin to take full advantage of the bullish chart pattern from a market pump.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $0.9700, $1.0310, $1.1100
Zones of Demand: $0.9280, $0.8500, $0.8000
Arbitrum could be set for a bumper price increase after it creates a double-bottom bullish reversal chart pattern. ARBUSD market has generally been having a torrid time in the hands of bears. This is even what led the coin to drop to its lowest-ever level. Nevertheless, out of its difficulty, the coin has now formed a double-bottom bullish reversal and risen to the neckline so much that we could see a price increase up to $1.1100.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum appears to be on the cusp of a substantial price surge, buoyed by the formation of a double-bottom bullish reversal chart pattern.
This cryptocurrency has endured a challenging period, primarily dominated by bearish forces, which resulted in its descent to an all-time low. However, from this adversity, a promising development has emerged in the form of a double-bottom bullish reversal pattern.
This pattern has driven the coin’s value to the neckline, raising the possibility of a noteworthy price increase towards the $1.1100 mark.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
The critical juncture lies in the event of the price surpassing the $0.9700 neckline, which is expected to propel it towards the $1.1100 level, possibly extending the upper Bollinger Band on the daily chart in the process. The daily MACD (Moving Average Convergence Divergence) lines have crossed in an upward direction, surpassing the zero level, and are accompanied by bullish histogram bars, signaling a robust bullish momentum.
The market is currently gathering pressure just below the $0.9700 resistance level, which it is poised to utilize as a launchpad to breach this critical threshold. The candlesticks have managed to remain above the middle Bollinger Band as they strive to move upwards on the 4-hour chart. Furthermore, the 4-hour MACD lines have surged significantly above the zero level, underscoring the imminent release of bullish momentum. This promising setup indicates that ARBUSD may be primed for a notable upswing.
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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