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Arbitrum Price Forecast: April 29
The Arbitrum price forecast is for the market to keep ranging till the bulls are empowered or the bears push the coin lower.
Arbitrum Long-Term Trend: Bullish (1Day Chart)
Key Levels:
Resistance Levels: $1.2240, $1.1550
Support Levels: $0.9950, $0.7660
The Arbitrum market recently hit by a bearish wave is now struggling at an anchor level around the $1.1550 price zone. The struggle signifies the buyers’ intent to take control of the market while the bears intend to push the price down all the more. ARB is currently capped at the top by the $1.2240 resistance level while the support level below is firmly placed at $0.9950.
Arbitrum Price Forecast: ARB/USD Outlook
The Arbitrum (ARBUSD) market, recently impacted by a bearish wave, finds itself grappling at a crucial anchor level around the $1.1550 price zone.
This struggle reflects the ongoing tug-of-war between buyers seeking to regain control and bears intent on driving prices lower.
Currently, the coin faces resistance at the $1.2240 level while finding support at $0.9950.
ARB/USD Medium-Term Trend: Bullish (4-hour chart)
On the daily chart, the Moving Average Cross (MA Cross) lines loom predominantly above the daily candlesticks, a consequence of the recent bearish downturn that saw the market slide from $1.5930 to its current low at $0.9950. While the Stochastic Oscillator lines suggest buyers are trying to wrest control, they remain within the bearish half, hovering above the oversold border.
Within the 4-hour timeframe, the market appears to be consolidating within key levels, leading to multiple crosses of the MA Cross lines as prices fluctuate. The Stochastic Oscillator lines on this timeframe oscillate across the chart spectrum, ranging from oversold to overbought zones. With the coin delicately poised, its trajectory hinges on the outcome of this balance, with the potential for either an upward surge or further descent.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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