Arbitrum Price Prediction: ARB/USD Ready to Reclaim $1.20 Resistance
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Arbitrum Price Prediction – August 11
The Arbitrum price prediction reveals that ARB moves to trade above $1.20, the bulls are ready to push the king coin to the upside.
ARB/USD Long-term Trend: Ranging (Daily Chart)
Key levels:
Resistance Levels: $1.38, $1.40, $1.42
Support Levels: $0.98, $0.96, $0.94
ARB/USD will follow a bullish movement as the king coin get ready to cross above the 9-day and 21-day moving averages. At the beginning of today’s trading, the Arbitrum price sees a steady rise toward the upside, and the Arbitrum price hits the daily high at $1.16.
Arbitrum Price Prediction: ARB Price Faces the Upside
The Arbitrum price is seen trading within the 9-day and 21-day moving averages as the market price prepares to move to the upside. However, any bullish cross above the 21-day moving average will increase the current market value to reach the nearest resistance at $1.20. The buyers may locate the potential resistance levels at $1.38, $1.40, and $1.42 if the bulls put in more effort.
In the meantime, if the resistance level of $1.16 fails to hold, it may reverse and face the support level of $1.15, further increase in the bears’ pressure may bring down the price below the lower boundary of the channel, and this could cause the coin to hit the support levels at $0.98, $0.96, and $0.94 respectively. Moreover, the technical indicator Relative Strength Index (14) is moving in the same direction below the 50-level, suggesting sideways movement.
ARB/USD Medium-term Trend: Ranging (4H Chart)
According to the 4-hour chart, the Arbitrum price is moving to cross above the 9-day and 21-day moving averages at $1.15. The bulls can push the price toward the upper boundary of the channel if they increase the buying pressure but any bearish movement below the moving averages could bring the coin to the support level of $1.12 and below.
Moreover, if the Arbitrum price finds a decent resistance level at $1.16 level, the Arbitrum price will head to the north, which could hit the resistance level of $1.20 and above. At the moment, the technical indicator Relative Strength Index (14) may move to the upside as the signal line moves to cross above the 50-level.
Place winning Arbitrum trades with us. Get ARB here
