Arbitrum Price Prediction: ARB/USD Accelerates Higher as Bulls Aim $1.20 Level
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Arbitrum Price Prediction – July 7
The Arbitrum price prediction will recover to the upside as the coin heads toward the upper boundary of the channel.
ARB/USD Medium-term Trend: Ranging (4H Chart)
Key Levels:
Resistance levels: $1.25, $1.30, $1.35
Support levels: $1.00, $0.95, $0.90
ARB/USD is ranging as the coin keeps moving above the 9-day and the 21-day moving averages. Meanwhile, if the coin slides below the moving averages, the market could become lower for new and existing buyers to come into the market. Conversely, should bulls fail to push the price upward, the Arbitrum price may continue with the sideways movement before heading to the upside.
Arbitrum Price Prediction: ARB/USD Would Move Higher
The Arbitrum price will head toward the upper boundary of the channel as soon as the bulls make the coin to reclaim the $1.13 resistance. However, any further bullish movement above the upper boundary of the channel will hit the potential resistance levels of $1.25, $1.30, and $1.35.
On the other hand, the upward movement may be delayed if the coin slides and face the lower boundary of the channel, this could touch the support levels of $1.00, $0.95, and $0.90. Moreover, the technical indicator Relative Strength Index (14) is moving to cross above the 50-level, pushing the coin to the upside.
ARB/USD Medium-term Trend: Ranging (2H Chart)
Looking at the 2-hour chart, the Arbitrum price remains above the 9-day and 21-day moving averages and the bulls need to increase the buying pressure and push the coin to touch the major resistance level at $1.15. If the buyers push the price above the upper boundary of the channel, higher resistance could be located at $1.19 and above.
Moreover, the technical indicator Relative Strength Index (14) could remain below the 60-level, encouraging new and existing buyers to invest in the coin. Meanwhile, should the bulls fail to move the current market value above, the bears could revisit the market, and the nearest support level could be found at $1.06 and below.
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