Arbitrum Price Prediction: ARB/USD Fluctuates Below $1.20 Level; Price Ready for the North
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Arbitrum Price Prediction – May 8
The Arbitrum price prediction shows that ARB may create a low at $1.00 if the price dips for new buyers to come to play.
ARB/USD Medium-term Trend: Bearish (4H Chart)
Key Levels:
Resistance levels: $1.30, $1.40, $1.50
Support levels: $0.85, $0.75, $0.65
ARB/USD is currently trading at $1.07 below the 9-day and 21-day moving averages. If the sellers increase the selling pressure, they could bring the coin toward the south as this may allow the new buyers to step into the market while the existing buyers are expected to buy the dips.
Arbitrum Price Prediction: ARB Price Could Retreat to Move Higher
The Arbitrum price is moving bearish and it could be low for more buyers to enter the market. However, ARB/USD could drop more as the technical indicator Relative Strength Index (14) prepares to leave the oversold region. Meanwhile, the coin will experience new buyers coming into the market, but any further support could be located at $0.85, $0.75, and $0.65 respectively.
However, should the buyers hold the current level and push the coin higher; bulls can expect immediate resistance to be located at $1.20. Any further bullish movement above the upper boundary of the channel could hit the resistance level of $1.30, $1.40, and $1.50.
ARB/USD Medium-term Trend: Bearish (2-Hour Chart)
On the 2-hour chart, the Arbitrum price is trading bullishly but still below the 9-day and 21-day moving averages, this will allow new buyers to come into the market. Nevertheless, the existing buyers are also expected to buy the dip as bulls gather momentum to begin a new bullish movement.
From above, if the buyers push the price above the moving averages, the potential resistance level could be found at $1.25 and above. Moreover, should the coin slide below the lower boundary of the channel, the support level of $0.90 and below may come to play while the Relative Strength Index (14) moves within the oversold region.
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