Arbitrum Price Forecast: ARBUSD Succumbs to Bearish Pressure as Buyers Struggle to Regain Footing

Arbitrum Price Forecast: July 29th

The Arbitrum (ARB) token has been facing significant bearish pressure, with the price declining from the $0.8280 key level towards the crucial $0.6690 support.

ARBUSD Long Term Trend: Bearish (1-Day Chart)
Key Levels

Resistance Levels: $1.0700, $1.2760
Support Levels: $0.6690, $0.5610
The Arbitrum token has been succumbing to bearish pressure, with sellers managing to push the price down close to the $0.6690 key level. This came following a period where buyers began to show weakness after trading up to the $0.8280 key level.

Arbitrum Price Forecast: ARBUSD Outlook

The Arbitrum price has been descending lower, falling from the $1.2760 key level in April. The bears have been able to overcome several support levels, pushing the price all the way down to the $0.5610 key level.

The bears are now looking to regain control once again. If the Arbitrum price experiences a further fall through the $0.6690 key level, sellers could gain more control over the market.

The technical indicators are providing bearish signals, with the Price Oscillator accelerating lower. The Parabolic SAR (Stop and Reverse) indicator is sliding lower as well. Crypto signals suggest a continued bearish trend.

ARBUSD Medium Term Trend – Bearish (4-hour)

In the shorter timeframe, sell-side strength is gaining momentum, and buyers are struggling to put up a meaningful fight against the current bearish onslaught.
The Parabolic SAR on the short-term timeframe is still trading lower, while the Price Oscillator is yet to show a clear directional flow.

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