Arbitrum Price Forecast: Bearish Forces Push ARBUSD to New Low

Arbitrum Price Forecast: February 3

The Arbitrum price forecast suggests a potential bullish reversal after the market plunges to its lowest level. Bears are expected to slow down, creating an opportunity for buyers to regain control.

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

Resistance Levels: $0.4820
Support Levels: $0.3000, $0.3800
Arbitrum could see a shift in momentum as bulls prepare to regain control following a significant bearish downturn that pushed ARBUSD to a record low of $0.3800. The last time the price dropped near this level was in August 2024, after which the market ranged for a few weeks before experiencing an upward surge. A similar pattern is expected to unfold in the current market conditions.

Arbitrum Price Forecast: ARBUSD Outlook

The head-and-shoulders formation that developed between December and January played a key role in breaking the buyers’ initial resistance.

This led to a plunge, driving Arbitrum to a new all-time low. However, early signs of a bullish recovery are emerging. A long wick on the daily chart indicates a rebound from the recent low, suggesting buying interest at this level.

Due to the extent of the price drop, the Parabolic SAR (Stop and Reverse) remains positioned above the daily candles, signaling sustained bearish pressure. Meanwhile, the Relative Strength Index (RSI) continues to reflect an almost oversold market, hinting at a possible trend reversal.

ARBUSD Medium-Term Trend: Bullish (4-Hour Chart)

Stronger bullish movements are becoming evident on the 4-hour chart. The price is currently attempting to surpass the $0.4820 resistance level. As a result, the Parabolic SAR dots have shifted below the candlesticks, signaling a potential trend change.
The RSI, which previously confirmed an oversold market, has now recovered above the oversold zone and is edging toward the equilibrium level. Bulls have started to regain influence, and a move above 0.5665 could be significant for further bullish momentum. Traders should monitor crypto signals closely for insights into the evolving market trend.

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