Arbitrum Price Prediction: ARB/USD Could Spike Above $1.150 Resistance
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Arbitrum Price Prediction – August 3
The Arbitrum price prediction will recover to the upside as the coin gets ready for a cross above the moving averages.
ARB/USD Medium-term Trend: Ranging (1D Chart)
Key Levels:
Resistance levels: $1.400, $1.500, $1.600
Support levels: $0.900, $0.800, $0.700
ARB/USD is ranging as the coin moves to cross above the 9-day and the 21-day moving averages. Meanwhile, the market can become lower for new and existing buyers to enter the market. Meanwhile, 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 break above the 9-day and 21-day moving averages as the bulls resume into the market. Any further bullish movement above this barrier will hit the potential resistance levels of $1.400, $1.500, and $1.600.
Meanwhile, the upward movement may be delayed if the coin slides below the channel’s lower boundary, which could touch the support levels of $0.900, $0.800, and $0.700 support levels. Moreover, the technical indicator Relative Strength Index (14) keeps moving above the 40-level to prepare for the upward movement.
ARB/USD Medium-term Trend: Bearish (4H Chart)
Looking at the 4-hour chart, the Arbitrum moves to cross above the 9-day moving average as the bulls need to hijack the market from the bears and head toward the north to touch the major resistance level at $1.150. If the buyers push the price above the channel’s upper boundary, crossing this barrier could hit the resistance level at $1.200 and above.
Moreover, the technical indicator Relative Strength Index (14) moves above the 50-level, encouraging new and existing buyers to invest in the coin. Therefore, 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 $1.080 and below.
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