Arbitrum Price Forecast: April 26
The Arbitrum price forecast is for the market to keep recovering off the $1.3310 demand zone till the bulls take full control of the price.
Arbitrum Long-Term Trend: Bullish (4-hour chart)
Key Levels:
Zones of supply: $1.5930, $1.8170
Zones of Demand: $1.3310, $1.4360
Arbitrum is starting to recover after sliding through several key levels to drop to the $1.3310 demand level. The bulls had exhausted themselves after piloting the coin to a record high of $1.8170. This led to a drop in the market. However, with solid support at $1.3310, the coin is now recovering nicely and is expected to get back to that high price level at $1.8170.
Arbitrum Price Forecast: ARB/USD Outlook
Thus far, the buyers have been able to influence the market. However, they expended themselves at the $1.8170 resistance level.
This led to a period of retracement during which the price dropped below several key levels until it rested on the $1.3310 strong key level. The buyers are now recovering from this key level.
The market can be seen on the daily chart, rising off the $1.3310 demand level. With that, the price has traded slightly above the MA period 25 (Moving Average) and will be looking to stabilize itself above it.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
The EFI (Elders Force Index) power line on the daily chart confirms the strengthening of the buy-traders. The power line, which has been fluctuating below the zero line, has moved a bit above the zero line into a positive value. It has moved even higher on the 4-hour chart.
The coin has traded clearly above the MA period 25 on the 4-hour timeframe. This means there is much more bullish activity in the short time frame, and it can only grow in the longer time frame. Arbitrum is now expected to maintain an upward trajectory towards the ATR (all-time high) of $1.8170.
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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