The price of Arbitrum ($ARB) has seen a notable increase over the last 24 hours and is now trading at $0.371, marking a 6.35% rise. According to CoinMarketCap, its market capitalization stands at $1.64 billion, with the 24-hour volume at $159.94 million, up 32.53% from yesterday.
Despite failing to reclaim the resistance point of $0.4 since early March, the token is well placed within the DeFi ecosystem, with total value locked (TVL) at $2.499 billion across several protocols.
Analyst Van de Poppe’s Arbitrum Price Prediction
Crypto analyst Michaël van de Poppe has shared his insights on Arbitrum’s price scenario. He says that for $ARB to show a clear recovery pattern, it needs to regain a previous support level of about 30% higher than its current price.
If it achieves this, the recent low will be considered a temporary dip, potentially resulting in a rise toward $0.75.
This analysis suggests that reclaiming previous support levels could indicate a strong recovery. However, if it fails to do so, the Arbitrum crypto may remain stuck in a downward trend.
ARB Price Technical Indicators
TradingView’s technical indicators present a bearish outlook for Arbitrum (ARB) in the short term. The Moving Averages (MAs) indicate trends and strongly recommend selling across different timeframes, particularly the one-hour, four-hour, and daily intervals.
The 200-period Exponential Moving Average (EMA) and Simple Moving Average (SMA) also support this bearish stance, indicating that ARB faces pressure below key resistance levels.
Although Arbitrum has not traded above $0.4 in over three weeks, it remains a strong player in the Ethereum Layer 2 ecosystem.
Its 24-hour decentralized exchange trading volume is $3.529 billion, and its perpetual futures trading volume is $340.83 million. There were also 300,702 active addresses in the past day, reflecting good network activity.
In the short term, traders and investors should monitor critical resistance levels at $0.40, $0.50, and $0.60. A breakthrough above these levels may indicate a reversal in the current trend. Should Arbitrum (ARB) fail to regain support, it could decline to $0.30 or lower.
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