Arbitrum Price Forecast: April 11
The Arbitrum price forecast is for the market to continue making upward movements after rising off the significant level of $1.910.
Arbitrum Long-Term Trend: Bullish (4-hour Chart)
Key Levels:
Zones of supply: $1.3310, $1.4360, $1.8000
Zones of Demand: $1.1910, $1.2190, $1.1100
Arbitrum is responding positively to the influence of the bulls, who are trying to mold the market into a double-bottom bullish structure. This is projected to push the price strongly higher, up to $1.8000. There has been a bit of lag around the key level of $1.1910, but the coin is now attempting to rise off that level.
Arbitrum Price Forecast: ARB/USD Outlook
Arbitrum buyers have set about conforming the market into a double-bottom bullish pattern. This is projected to push the price of the coin towards a significant level of $1.8000.
The coin uses the key level of $1.1100 as its support level, and there have now been two touches on the support late last month and early this month, respectively.
Momentum has slowed down, however, after the price rose to $1.910. This is due to the weakening of the bulls after expending so much strength. Nevertheless, after a short range, momentum has increased.
ARB/USD Medium-Term Trend: Bullish (1-hour chart)
As a result of the sharp rise in momentum, the MA Cross (Moving Average) has now made an upward cross at the level of $1.1910. This signals that the market will soon start rising. On the 1-hour chart, an upward cross of the MA is also occurring.
Meanwhile, the momentum has dropped temporarily before rising again to help the buyers continue their bullish foray. When this happens, the last arm of the double-bottom bullish pattern will be formed, which will drive the price higher toward its aim of hitting the significant level of $1.8000.
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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