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The Arbitrum price prediction reveals that ARB could spike above the upper boundary of the channel for it to create more additional uptrends.
Arbitrum Prediction Statistics Data:
- Arbitrum price now – $1.32
- Arbitrum market cap – $1.7 billion
- Arbitrum circulating supply – 1.27 billion
- Arbitrum total supply – 10 billion
- Arbitrum Coinmarketcap ranking – #47
ARB/USD Market
Key Levels:
Resistance levels: $1.55, $1.60, $1.65
Support levels: $0.95, $0.90, $0.85
Looking at the daily chart, ARB/USD trades above the 9-day and 21-day moving averages as the coin heads toward the upper boundary of the channel. The Arbitrum price is likely to cross above the channel, and should the buyers push the coin above this barrier, it may create additional gains.
Arbitrum Price Prediction: Arbitrum (ARB) May Create Additional Upsides
The Arbitrum price is at the time of writing trading bullishly, if the resistance of $1.40 gives way, the bulls may cross above the upper boundary of the channel, and the coin could create additional bullish trends. According to the daily chart, the bullish scenario is stepping back into the market as buyers continue to post firm commitments into the market. However, traders could see a sharp rise in the market if the coin reaches the resistance level of $0.140; this could further strengthen the market to the resistance levels of $1.55, $1.60, and $1.65.
On the downside, a lower possible swing may likely come into the market to retest the previous support if the coin slides below the moving averages. However, if the bears manage to fuel the market, traders may expect a further drop to the support levels of $0.95, $0.90, and $0.85 respectively.
ARB/BTC May Cross Above the Channel
Against Bitcoin, the Arbitrum price remains above the 9-day and 21-day moving averages in other to cross above the upper boundary of the channel. However, this resistance level is expected to effectively exceed so that the market price may end up closing above it.
On the other hand, if ARB/BTC slides below the moving averages, it could refresh lows and a possible bearish cross below the lower boundary of the channel could meet the major support at 2300 SAT and below. However, if the coin crosses above the upper boundary of the channel, ARB/BTC could hit the potential resistance at 3400 SAT and above.
Alternatives to Arbitrum
The Arbitrum price is hovering above the 9-day and 21-day moving averages as the coin moves toward the upper boundary of the channel. According to the daily chart, the candle formation may continue to respect the upward movement if the bulls increase the pressure, but sliding below the lower boundary of the channel might position the market price toward the south while the closest support level could be located around the $1.00 level.
Meanwhile, Arbitrum (ARB) is striving for further growth, boasting a market cap of $1.27 billion and securing the 47th position in the crypto market rankings. However, by year-end, its growth potential may pale in comparison to Bitcoin Minetrix (BTCMTX) which is a distinctive alternative to Bitcoin. Notably, during its current presale phase, BTCMTX has garnered nearly $5.8 million. Consequently, prospective investors are encouraged to capitalize on this opportunity before the presale concludes.
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