In this Arbitrum (ARB) price prediction 2024, 2025-2030, we will analyze the price patterns of ARB by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Arbitrum (ARB) Current Market Status/h2
ARB Current Market Status (Source: CoinMarketCap)h2 What is Arbitrum (ARB)/h2
Arbitrum is a new layer-2 scaling solution for the Ethereum blockchain developed by a new york based company known as Off-chain labs. Layer-2 scaling solutions are networks which sit on top of layer 1 blockchains to provide cheap and fast transactions. They reduce the congestion on the main blockchain by validating transactions separately and integrating them into the main chain.
After its mainnet launch last year, Arbitrum’s scaling solution has seen a lot of success. As a result of this, several developers have used Arbitrum’s solutions to host their dApps. Arbitrum also supports integration with Ethereum Virtual Machine (EVM) making it easy for developers.
h3 Arbitrum 24H Technicals/h3
(Source: TradingView)
h2 Arbitrum (ARB) Price Prediction 2024/h2
Arbitrum (ARB) ranks 36th on CoinMarketCap in terms of its market capitalization. The overview of the Arbitrum price prediction for 2024 is explained below with a daily time frame.
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ARB/USDT Right Angled Descending Broadening Wedge Pattern (Source: TradingView)
In the above chart, Arbitrum (ARB) laid out the right-angled descending broadening wedge pattern. A right-angled descending broadening wedge is a bullish reversal pattern. The pattern is an inverted ascending triangle because it is made up of two converging lines with a horizontal line for the resistance and a bearish downward slant for the support.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, Arbitrum (ARB) was recorded at $1.90. If the pattern trend continues, then the price of ARB might reach the resistance level of $2.0080, and $4.9195. If the trend reverses, then the price of ARB may fall to the support of $0.7442.
h2 Arbitrum (ARB) Resistance and Support Levels/h2
The chart given below elucidates the possible resistance and support levels of Arbitrum (ARB) in 2024.
ARB/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Arbitrum (ARB) for 2024.
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Arbitrum (ARB) are shown in the chart below.
ARB/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Arbitrum (ARB) market in 2024.
In the below chart, we analyze the strength and volatility of Arbitrum (ARB) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
ARB/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Arbitrum (ARB).
h2 Comparison of ARB with BTC, ETH/h2
Let us now compare the price movements of Arbitrum (ARB) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs ARB Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of ARB is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of ARB also increases or decreases respectively.
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Arbitrum (ARB) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
h2 Conclusion/h2
If Arbitrum (ARB) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Arbitrum (ARB) price prediction for 2024 is $2.7223. Comparatively, if unfavorable sentiment is triggered, the bearish Arbitrum (ARB) price prediction for 2024 is $1.0716.
If the market momentum and investors’ sentiment positively elevate, then Arbitrum (ARB) might hit $5. Furthermore, with future upgrades and advancements in the Arbitrum ecosystem, ARB might surpass its current all-time high (ATH) of $11.80 and mark its new ATH.
This content was originally published by our partners at The News Crypto .
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The News Crypto
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