Arbitrum Price Prediction: ARB/USD Trades Near $1.20 High; Price Ready for the North?
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Arbitrum Price Prediction – May 28
The Arbitrum price prediction reveals that ARB drops to touch the daily low of $1.18 as the price dips for new buyers to surface.
ARB/USD Medium-term Trend: Ranging (4H Chart)
Key Levels:
Resistance levels: $1.28, $1.30, $1.32
Support levels: $1.11, $1.09, $1.07
ARB/USD is trading at $1.19 hovering above the 9-day and 21-day moving averages. According to the daily chart, sellers could bring the coin toward the south as this could allow new buyers to step into the market while the existing buyers are expected to buy more.
Arbitrum Price Prediction: ARB Price Could Retreat to Move Higher
The Arbitrum price is inexpensive at the moment for more buyers to come into the market. However, the coin can drop more as the technical indicator Relative Strength Index (14) moves above the 60-level. Moreover, the existing buyers are expected to come into the market and any further bearish movement toward the lower boundary of the channel could locate supports at $1.11, $1.09, and $1.07.
Moreover, should the buyers hold the current market value and push it higher can hit the previous resistance level of $1.22; however, any further bullish movement above the upper boundary of the channel will locate the resistance levels at $1.28, $1.30, and $1.32.
ARB/USD Medium-term Trend: Ranging (2H Chart)
On the 2-hour chart, the Arbitrum price keeps moving within the 9-day and 21-day moving averages, expecting new buyers to enter the market. Similarly, the existing buyers are to invest more as the coin could slide a little.
From the upside, if the buyers push the price above the 9-day moving average; higher resistance could be found above the upper boundary of the channel at $1.28 and above. Nonetheless, should the coin retreat and slide toward the lower boundary of the channel, critical support can come at $1.12 and below, while the Relative Strength Index (14) stays above the 60-level, suggesting that buyers are coming into focus.
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