{"id":443835,"date":"2023-09-29T14:38:00","date_gmt":"2023-09-29T14:38:00","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=443835"},"modified":"2023-09-29T14:38:00","modified_gmt":"2023-09-29T14:38:00","slug":"arbitrum-price-prediction-arb-leaps-9-is-layer-2-scaling-gaining-traction","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/arbitrum-price-prediction-arb-leaps-9-is-layer-2-scaling-gaining-traction","title":{"rendered":"Arbitrum Price Prediction: ARB Leaps 9% \u2013 Is Layer-2 Scaling Gaining Traction?"},"content":{"rendered":"
Arbitrum (ARB<\/a>) price has been bullish since mid-month, recording a 20% climb beginning September 12. On September 29, the Ethereum (ETH<\/a>) Layer-2 (L2) scaling solution token leaped 9% to record an intra-day high of $0.9029. It continues to extend with prospects to escape from the descending parallel channel. For this to happen, however, ARB must overcome the upper boundary of the bearish channel and record a decisive candlestick close above the $ 1,000 psychological level.<\/p>\n Meanwhile, a fair value gap (FVG) continues to act as a magnet. It indicates an inefficiency that needs to be filled. If the bulls can muster the synergy, Arbitrum price can extend the gains towards the FVG. However, for a confirmed uptrend, it must overcome the consequential encroachment (CE) at $1.092.<\/p>\n The overall upward trajectory of the Relative Strength Index (RSI) remains promising. The green histogram bars of the Awesome Oscillator that continue to edge north toward the positive corroborate this outlook.<\/p>\n