Arbitrum Price Forecast: ARBUSD Sellers Counter Bullish Progress

Arbitrum Price Forecast: March 31

The Arbitrum price forecast indicates that the market is set to continue its downward movement after the sellers halt and counter the recent bullish reversal.

ARBUSD Key Levels:

Resistance Levels: $0.4820, $0.3800
Support Levels: $0.3000, $0.2500

Arbitrum Long-Term Trend: Bearish (1Day Chart)

Abitrum looks set to drop back its lowest price after the sellers counter the latest bullish moves in the market. The market has remained under from the turn of the year, but at several points, bullish resurgence is visible until they are countered by the sellers and this has just played out yet again. Nevertheless, the drop in play looks more gentle and the bulls could yet mount a comeback.

Arbitrum Price Forecast: ARB/USD Outlook

The market has earlier defended the $0.3800 support level but failure to rise clear of the $0.4820 resistance put pressure on the support till it was broken to the downside up to $0.3000.

A bullish resurgence was assumed from there till for the price to rise back to $0.3800 but that progress has now been halted and countered by the sellers as price re-approaches $0.3000.

The daily RSI (Relative Strength Index) line remains undulating below the 50 mark to show selling pressure. While the Parabolic SAR (Stop and Reverse) dots have aligned above the candles after the recent rejection at $0.3800.

ARB/USD Medium-Term Trend: Bullish (4-hour chart)

On the 4-hour timeframe, the RSI line rose beyond the 50 mark but before it touched the overbought zone border, it was suppressed Ans brought down low back to the oversold border as sellers counters the bullish reversal.

The Parabolic SAR on the same timeframe has a lone lineup of dots above the candlesticks as price is rejected from $0.3800 and approaches the $0.3000 all time low. From that point the buyers will be given another chance to mount another attack to break $0.3800.

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