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
What is Arbitrum (ARB)
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.
Arbitrum 24H Technicals
Arbitrum (ARB) Price Prediction 2024
Arbitrum (ARB) ranks 37th 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.
In the above chart, Arbitrum (ARB) laid out the ascending channel pattern, also known as the rising channel. The upper and lower trend lines that connect the higher highs and higher lows respectively appear to move within a rising slope. This pattern is generally a characteristic of a bullish trend.
At the time of analysis, Arbitrum (ARB) was recorded at $2.08. If the pattern trend continues, then the price of ARB might reach the resistance level of $2.4261, and $3.4543. If the trend reverses, then the price of ARB may fall to the support of $1.6521.
Arbitrum (ARB) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Arbitrum (ARB) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of Arbitrum (ARB) for 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of Arbitrum (ARB) for 2024.
Arbitrum (ARB) Price Prediction 2024 — RVOL, MA, and RSI
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.
From the readings on the chart above, we can make the following inferences regarding the current Arbitrum (ARB) market in 2024.
Arbitrum (ARB) Price Prediction 2024 — ADX, RVI
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).
From the readings on the chart above, we can make the following inferences regarding the price momentum of Arbitrum (ARB).
Comparison of ARB with BTC, ETH
Let us now compare the price movements of Arbitrum (ARB) with that of Bitcoin (BTC), and Ethereum (ETH).
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.
Arbitrum (ARB) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Arbitrum (ARB) between 2025, 2026, 2027, 2028, 2029, and 2030.
Conclusion
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 $3.6235. Comparatively, if unfavorable sentiment is triggered, the bearish Arbitrum (ARB) price prediction for 2024 is $1.4644.
If the market momentum and investors’ sentiment positively elevate, then Arbitrum (ARB) might hit $3. Furthermore, with future upgrades and advancements in the Arbitrum ecosystem, ARB might surpass its current all-time high (ATH) of $2.39 and mark its new ATH.
This content was originally published by our partners at The News Crypto.