Arbitrum Price Prediction: ARB/USD Touches $1.06 Low; Could This Be An Entry Point for Buyers?
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Arbitrum Price Prediction – May 25
The Arbitrum price prediction reveals that ARB will begin to form higher as the coin prepares for the bullish movement.
ARB/USD Medium-term Trend: Ranging (4H Chart)
Key Levels:
Resistance levels: $1.20, $1.25, $1.30
Support levels: $1.00, $0.95, $0.90
ARB/USD is moving below the 9-day and 21-day moving averages, but it’s yet to get head to the upside. At the time of writing, the market price is hovering at $1.09 after touching the daily low of $1.06, and it could become lower to allow new investors to come into the market.
Arbitrum Price Prediction: ARB/USD Will Retrace Back to the Top
The Arbitrum price will make a retracement back above the 9-day and 21-day moving averages after the bulls defend the $1.00 support. However, the coin will begin to follow the upward movement by crossing above the moving averages; any further bullish movement could push the coin toward the upper boundary of the channel which could hit the potential resistance levels of $1.20, $1.25, and $1.30 respectively.
On the contrary, the bullish movement could be delayed if the bears break below the lower boundary of the channel and fall to the support levels of $1.00, $0.95, and $0.90. Nevertheless, the technical indicator Relative Strength Index (14) is seen below the 35-level, this could prepare the coin for the bullish movement in the next positive direction.
ARB/USD Medium-term Trend: Bearish (2H Chart)
Looking at the 2-hour chart, the Arbitrum price is heading toward the north as the coin moves to cross above the 9-day moving average. The new buyers can come into the market while the existing buyers are to re-invest. However, the long-term moving averages will begin the bullish movement as the market prepares for a new trend.
Moreover, if the buyers push the price above the 21-day moving average, it could reach a potential resistance level of $1.10 and above. At the moment, the technical indicator Relative Strength Index (14) is likely to cross above the 40-level, but if the bulls fail to move the current market value upward, the bears could bring the coin to the support level of $1.04 and below.
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