Arbitrum Price Prediction: ARB/USD Could Trade Above $1.40 Level
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Arbitrum Price Prediction – May 5
The Arbitrum price prediction is consolidating, if the bulls increase their momentum, the price would shoot higher.
ARB/USD Long-term Trend: Ranging (4H Chart)
Key Levels:
Resistance levels: $1.50, $1.52, $1.54
Support levels: $1.20, $1.18, $1.16
ARB/USD is facing the upside as the coin hovers above the 9-day and 21-day moving averages. However, if the bulls increase their momentum and penetrate the resistance level at $1.40, the price would shoot higher to cross above the upper boundary of the channel.
Arbitrum Price Prediction: ARB Will Spike to the Upside
Looking at the chart, f the Arbitrum price experience an increase coupled with a bullish regroup, it will begin to correct gain significantly on the upside. On the contrary, the bears could become severe with more losses for the new buyers to enter as the next support levels could be located at $1.20, $1.18, and $1.16 respectively.
In the meantime, the Arbitrum price will continue to move to the upside as the coin aims to hit the nearest resistance level of $1.42, any further bullish movement could hit the potential resistance levels at $1.50, $1.52, and $1.54. Meanwhile, the technical indicator Relative Strength index (14) is moving above the 50-level, suggesting bullish movement for the coin.
ARB/USD Medium-term Trend: Ranging (2H Chart)
The Arbitrum (ARB) is trading above the 9-day and 21-day moving averages aiming to cross above the upper boundary of the channel. The coin will create additional gains should it touch the resistance level of $1.38. Therefore, if the price breaks above the channel, the market may experience an upward trend and could touch the resistance level at $1.42 and above.
Meanwhile, ARB/USD is likely to retreat a little bit, if the coin breaks below the 9-day and 21-day moving averages; it could hit the support at $1.30 and below. However, the technical indicator Relative Strength Index (14) is seen moving above the 60-level, suggesting bullish movement.
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