In this Arbitrum (ARB) Price Forecast 2024, 2025-2030, we will analyze the price patterns of ARB using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Arbitrage (ARB) Current Market Status
What is Arbitrum (ARB)
Arbitrum is a new layer-2 scaling solution for the blockchain developed by a New York-based company known as Off-chain labs. Layer 2 scaling solutions are networks that sit on top of layer 1 blockchains to provide cheap and fast transactions. They reduce 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, 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.
Decision 24H Technical
(Source: TradingView)
Arbitrum (ARB) Price Prediction 2024
Arbitrum (ARB) is ranked 38th on CoinMarketCap in terms of its market capitalization. The overview of the Arbitrum price forecast for 2024 is explained below with a daily time frame.
ARB/USDT Rectangular Descending Widening Wedge Pattern (Source: TradingView)
In the chart above, Arbitrum (ARB) has outlined the rectangular descending widening wedge pattern. A right-angled descending widening wedge is a bullish reversal pattern. The pattern is an inverted ascending triangle because it consists of two converging lines with a horizontal line for the resistance and a bearish downward slope for the support.
Within a descending channel, a trader can make a sell bet when the security price reaches its resistance trend line. 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 $1.94. If the pattern trend continues, the price of ARB may reach the resistance level of $2.0080 and $4.9195. If the trend reverses, the price of ARB may drop to the $0.7442 support.
Arbitrum (ARB) Resistance and Support Levels
The chart below gives 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.
ARB Resistance and Support Levels
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.
ARB/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can draw the following conclusions about the current Arbitrum (ARB) market in 2024.
Arbitrum (ARB) Price Prediction 2024 — ADX, RVI
In the chart below, 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 draw the following conclusions about the price momentum of Arbitrum (ARB).
Comparison of ARB with BTC, ETH
Now let’s compare the price movements of Arbitrum (ARB) with those of (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 rises or falls, the price of ARB also rises or falls respectively.
Arbitrum (ARB) Price Forecast 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let’s forecast the price of Arbitrum (ARB) between 2025, 2026, 2027, 2028, 2029 and 2030.
Closure
If Arbitrum (ARB) establishes itself as a good investment in 2024, this year will be favorable for the cryptocurrency. Finally, the bullish Arbitrum (ARB) price forecast for 2024 is $2.7223. In comparison, if unfavorable sentiment is triggered, the bearish Arbitrum (ARB) price forecast for 2024 is $1.0716.
If the market momentum and investor sentiment increase positively, Arbitrum (ARB) could reach $5. Furthermore, with future upgrades and advancements in the Arbitrum ecosystem, ARB could surpass its current 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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