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Arbitrum Price Forecast: August 14
The Arbitrum price forecast is for the price to make another leap toward the $1.3310 resistance to break through it.
Arbitrum Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $1.2880, $1.3310
Zones of Demand: $1.1550, $1.0620
ARBUSD bulls remain in the struggle to push the market to a higher price level. Having used a bullish reversal formation to push the coin above $1.1550, the next task is to push it further beyond the $1.3310 supply line. The coin has been rejected once at this level, but the price is due to make another leap toward the level from the $1.1550 support level.
Arbitrum Price Forecast: ARB/USD Outlook
ARBUSD is aiming for a rise toward the $1.3310 level. This struggle of ARBUSD bulls to propel the market to higher price levels continues.
After utilizing a bullish reversal pattern to drive the coin above $1.1550, the subsequent objective is to extend the surge beyond the $1.3310 supply threshold.
While facing a prior rejection at this level, the price is poised to undertake another leap from the $1.1550 support level toward the target.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
The daily chart showcases the Stochastic Oscillator lines pausing short of entering the overbought region, instead dipping below the 50 mark, reflecting the recent setback at $1.3310. Concomitantly, the Parabolic SAR (Stop and Reverse) dots have transitioned beneath the daily candles, indicative of the bulls’ concealed efforts to propel the price higher.
On the 4-hour chart, a definitive direction appears elusive. The Stochastic lines have descended into the bearish domain, maintaining fluctuation within this territory. Meanwhile, the Parabolic SAR dots exhibit rapid alternation around the 4-hour candlesticks, presently positioned above them.
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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