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Arbitrum Price Forecast: July 10
The Arbitrum price forecast is for the market to execute the cup-and-handle bullish structure to push the coin clear of the $1.1100 barrier.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $1.3310, $1.1550, $1.1100
Zones of Demand: $0.9700, $0.9280, $0.8500
The Arbitrum market is trying to regain lost ground. However, there are obstacles on the path to rising higher. The current limitation is in the $1.1100–$1.1550 market zone. The coin has been fluctuating around this level for a while before it took a dip, which happens to form a cup structure. This is a bullish structure in itself, which is expected to push the price beyond the current zone up to $1.2880 as the next resistance.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum dropped from fluctuating around the $1.1100–$1.1550 key zone to formulate the cup formation. The price has risen again as the handle forms.
The formation of this bullish structure is expected to drive the coin high and away from this current $1.1100–$1.1550 market zone toward the next resistance at $1.2880.
The MACD (Moving Average Convergence Divergence) indicator shows that there has been much progress over the past two weeks since its lines crossed upward. It has now risen above the zero level.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
The MA period 25 (Moving Average) has dropped below the current trading level to provide a cushion for the price to push higher on the daily chart using the cup and handle a bullish formation.
On the 4-hour chart, the MACD has risen to equilibrium, and we can expect the price to rise either gradually or as an upsurge to break free from the $1.1100–$1.1550 barrier. The coin is expected to rise to the next barrier at $1.2880–$1.3310 to break it.
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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