{"id":469777,"date":"2024-01-03T16:34:09","date_gmt":"2024-01-03T16:34:09","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=469777"},"modified":"2024-01-03T16:34:09","modified_gmt":"2024-01-03T16:34:09","slug":"arbitrum-price-prediction-arb-hits-record-high-as-tvl-tops-2-5-billion-and-btc-cloud-mining-token-bitcoin-minetrix-races-past-7-3-million-in-presale","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/arbitrum-price-prediction-arb-hits-record-high-as-tvl-tops-2-5-billion-and-btc-cloud-mining-token-bitcoin-minetrix-races-past-7-3-million-in-presale","title":{"rendered":"Arbitrum Price Prediction: ARB Hits Record High As TVL Tops $2.5 Billion And BTC Cloud Mining Token Bitcoin Minetrix Races Past $7.3 Million In Presale"},"content":{"rendered":"

The Arbitrum price jumped more than 6% over the past 24 hours to trade at $1.89 as of 7:55 a.m. EST.<\/span><\/p>\n

A New All-Time High For The Arbitrum Price<\/span><\/h2>\n

ARB came close to reaching the $2 mark and during the past day was able to record a new all-time high of $1.99, according to CoinGecko <\/span>data<\/span><\/a>. <\/span><\/p>\n

Along with the increase in price, the total valued locked (TVL) for the network also topped $2.5 billion. On-chain volumes for Arbitrum-based applications have also surpassed $920 million. <\/span><\/p>\n

As a result, data from <\/span>DefiLlama<\/span><\/a> indicates that the collective TVL for Arbitrum-based applications has risen $1 billion since October 2023.<\/span><\/p>\n

The Arbitrum Price Briefly Dips But Manages To Recover<\/span><\/h2>\n

\"TradingView<\/p>\n

Daily chart for ARB\/USDT (Source: <\/span>TradingView<\/span><\/a>)<\/span><\/p>\n

ARB<\/span><\/a> temporarily dropped below the $1.6740 mark earlier in today’s trading session. It has been able to recover since then to trade back above the significant price point. A positive price channel has also emerged on the altcoin’s daily chart. This was after the Arbitrum price recorded a series of higher highs and higher lows over the past 2 weeks. As a result of the recent recovery, ARB is currently trading near the upper barrier of the ascending channel.<\/span><\/p>\n

The Arbitrum price may soon attempt to set a new high if it closes today’s candle above $1.6740.  This bullish thesis may not play out if the cryptocurrency closes today’s trading session below $1.6740. In this alternative scenario, the <\/span>Arbitrum<\/span><\/a> price may retest the subsequent support level at $1.4215 in the short term.<\/span><\/p>\n

Technical Indicators Suggest A Continued Increase In The Arbitrum Price<\/span><\/h3>\n

Traders and investors will want to note that technical indicators suggest the <\/span>Arbitrum<\/span><\/a> price may continue to climb in the next 48 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) support a bullish outlook.<\/span><\/p>\n

A trend continuation signal is present on ARB’s daily chart, as the MACD line is breaking away above the MACD Signal line. This suggests that the altcoin’s bullish momentum shows no signs of slowing down. Buyers are currently also stronger than sellers on ARB’s chart, as the RSI line is positioned above its Simple Moving Average (SMA) line.<\/span><\/p>\n

If these technical flags are validated, the Arbitrum price will most likely attempt to flip $1.99 into a support level. Until this happens, investors may want to take a look at the runaway presale of <\/span>Bitcoin Minetrix<\/span><\/a>, which has already surged past $7.3 million. <\/span><\/p>\n

Investors Are Rushing To Benefit From This Passive Income Opportunity<\/span><\/h2>\n