Arbitrum Price Prediction: ARB/USD Ranges Around $1.16; the Price Could Rebound
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Arbitrum Price Prediction – May 10
The Arbitrum price prediction reveals that if bulls keep the market price above the moving averages, ARB will create more gains.
ARB/USD Medium-term Trend: Ranging (4H Chart)
Key Levels:
Resistance levels: $1.38, $1.40, $1.42
Support levels: $0.95, $0.93, $0.91
According to the daily chart, ARB/USD is moving sideways, trading above the 9-day and 21-day moving averages. Meanwhile, as the coin hovers at $1.16, the bullish momentum will make the coin move toward the resistance level of $1.20 resistance level. Nevertheless, if the bulls fail to drive the price toward the upper boundary of the channel, the Arbitrum price could slide below the moving averages.
Arbitrum Price Prediction: ARB/USD Would Head to the Upside
The Arbitrum price is changing hands at $1.16 where it could reclaim the resistance level of $1.20. The coin can cross above the upper boundary of the channel to locate the potential resistance levels at $1.38, $1.40, and $1.42. Meanwhile, the support levels remain at $0.95, $0.93, and $0.91 so that new buyers can come into the market while the technical indicator Relative Strength Index (14) remains below the 50-level.
ARB/USD Medium-term Trend: Bearish (2H Chart)
The Arbitrum price remains above the 9-day and 21-day moving averages but could head toward the upper boundary of the channel if the buyers increase the pressure. However, the technical indicator Relative Strength Index (14) remains below the 60-level, which suggests that the coin may retreat a little before gaining additional uptrends. This is to prepare the buyers for the upward movement and it could be the best time for more buyers to buy the dip.
However, any bullish movement above the upper boundary of the channel could hit the resistance level at $1.38 and above. Nevertheless, ARB/USD could display some bearish signals if the market price heads toward the lower boundary of the channel, and the Arbitrum price may locate the critical support at $1.00 and below.
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