Arbitrum Price Forecast: September 18
The Arbitrum price forecast is for the buyers to keep applying pressure to recover the market to higher price levels.
Arbitrum Long-Term Trend: Bullish (1Day Chart)
Key Levels:
Zones of supply: $0.9280, $1.1100
Zones of Demand: $0.8000, $0.7200
The potential conclusion of the bearish trend in the Arbitrum market raises concerns. Over the past two months, ARB/USD price has experienced a significant 45% decline, reaching a new all-time low. Presently, the coin has halted just shy of the $0.7200 mark and retraced above $0.8000. However, this recent development lacks conviction, reminiscent of a similar scenario between $0.8500 and $0.9280, which preceded the plunge to the all-time low.
Arbitrum Price Forecast: ARB/USD Outlook
The recent bearish wave in the Arbitrum market has raised concerns. Over two months, the price experienced a significant 45% drop, reaching a new all-time low.
Currently, the coin has temporarily halted just shy of the $0.7200 mark and retraced back above $0.8000. However, this recent move lacks conviction, reminiscent of a similar scenario between $0.8500 and $0.9280 before the market plummeted to its all-time low.
Throughout this period, all market signals had been negative until the weekend when the price initiated an upward retracement.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
On the daily chart, the Parabolic SAR (Stop and Reverse) dots shifted below the candlesticks, signaling the emergence of a growing bullish sentiment. Additionally, the MACD (Moving Average Convergence Divergence) lines, previously deeply entrenched in negative territory, crossed upward, providing a bullish indication.
The 4-hour chart presents even more encouraging signals. Parabolic SAR dots now align below the candlesticks, especially as the price surpassed $0.8000. Simultaneously, the MACD has ascended to equilibrium, accompanied by a series of healthy bullish histogram bars. The potential for sustained bullish momentum exists if buyers maintain their pressure to ascend beyond the $0.8500 level.
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