Arbitrum Price Prediction: ARB/USD Touches $1.360; Could this be An Entry Point for Buyers?
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Arbitrum Price Prediction – April 20
The Arbitrum price prediction reveals that ARB will begin to form higher as the coin aims to cross above the moving averages.
ARB/USD Medium-term Trend: Ranging (4H Chart)
Key Levels:
Resistance levels: $1.600, $1.650, $1.700
Support levels: $1.200, $1.150, $1.100
ARB/USD is moving to cross 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 $1.383 after touching the daily low of $1.360, 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 upper boundary of the channel. However, the coin will begin to follow the upward movement if crosses above the moving average; any further bullish movement could push the coin toward the upper boundary of the channel which could hit the potential resistance levels of $1.600, $1.650, and $1.700 respectively.
On the contrary, the bullish movement could be delayed if the bears head toward the lower boundary of the channel, it could fall to the support levels of $1.200, $1.150, and $1.100. Nevertheless, the technical indicator Relative Strength Index (14) is seen moving within the 50-level, this could make the coin move sideways before facing the next positive direction.
ARB/USD Medium-term Trend: Ranging (2H Chart)
The Arbitrum price is heading toward the north as the coin crosses above the 9-day and 21-day moving averages. 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.
Nonetheless, if the buyers push the price toward the upper boundary of the channel, it could reach a potential resistance level of $1.500 and above. At the moment, the technical indicator Relative Strength Index (14) is moving above the 50-level, but if the bulls fail to move the current market value upward, the bears could bring the coin to the support level of $1.250 and below.
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