Ethereum

Arbitrum

Coin

Arbitrum (ARB) has recently captured significant attention with its impressive performance. Renowned crypto analyst Michaël van de Poppe has shared an optimistic outlook on this Ethereum layer-two (L2) scaling solution, speculating a potential rise in its value to the $2 mark. The token has recorded a surge of 58% in the past 30 days, a trend that van de Poppe believes will continue soon.
<h2 id="span-style-font-weight-400-the-rising-trajectory-of-arbitrum-span">The Rising Trajectory of Arbitrum</h2>
Arbitrum’s journey in the cryptocurrency market has been remarkable for its massive gains. As per the latest data, the token stands at a valuation of $1.58, marking an increase of 19.96% in just 24 hours. This growth is complemented by a rise in trading volume, which has soared by 205.61% in the same period, reaching a staggering $1,598,545,697.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 I've posted some updates on <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ARB</a>.
 Retest at $0.98 did work, continuation towards $1.35 as well and even further.
 Some beautiful S/R flips, I think $1.40-1.45 should hold and we can continue to $2. <a href="https://t.co/wIFEg26zq8" rel="noopener noreferrer nofollow">pic.twitter.com/wIFEg26zq8</a>
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1740302917683355679?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 28, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Michaël van de Poppe’s analysis reveals key points in Arbitrum’s price movement. He noted the recent retest at $0.98 and the uptrend towards $1.35. He pointed out the significant support and resistance (S/R) flips and expressed confidence in the token’s ability to maintain its current upward momentum, particularly in the range of $1.40 to $1.45, paving the way for an uptrend towards $2.
<h2 id="span-style-font-weight-400-arbitrum-price-rally-a-new-bullish-wave-emerges-span">Arbitrum Price Rally: A New Bullish Wave Emerges</h2>
After experiencing a week of significant volatility, the ARB price has embarked on a bullish journey. Breaking through the key resistance of $1.4594, it signals a newfound strength in the crypto market. This surge aligns with the uptrend in various top altcoins, highlighting a potential trend shift.
Initially, the <a href="https://coingape.com/markets/arbitrum-price-prediction-is-it-too-late-to-buy-arb-coin-after-a-50-price-rally/" rel="noopener noreferrer nofollow">Arbitrum </a>price fluctuated within a narrow band from $0.904 to $1.0380. It then witnessed a breakout, jumping by approximately 16%, only to face a setback at $1.1133. Post this, a period of consolidation ensued, with the price oscillating between $1.0380 and $1.0236. The market’s regained vigor led to a notable 31% jump within a single day, reaffirming bullish sentiment in the industry.
<h2 id="span-style-font-weight-400-technical-analysis-insights-span">Technical Analysis Insights</h2>
The MACD indicator’s rising histogram points to increased buying pressure. Coupled with bullish average convergence, it suggests that the ARB price is set for continued growth.
<figure id="attachment_171463" aria-describedby="caption-attachment-171463" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-171463" src="https://coingape.com/wp-content/uploads/2023/12/ARB-.png" alt="Arbitrum price prediction daily chart" width="1138" height="691" srcset="https://coingape.com/wp-content/uploads/2023/12/ARB-.png 1138w, https://coingape.com/wp-content/uploads/2023/12/ARB--300x182.png 300w, https://coingape.com/wp-content/uploads/2023/12/ARB--768x466.png 768w, https://coingape.com/wp-content/uploads/2023/12/ARB--150x91.png 150w" sizes="(max-width: 1138px) 100vw, 1138px">
 <figcaption id="caption-attachment-171463" class="wp-caption-text">
 ARB/USD daily chart |&nbsp;<a href="https://www.tradingview.com/chart/OrUePTa1/?symbol=COINBASE%3AARBUSD" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
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Maintaining above the support level of $1.567 could propel ARB to challenge the $1.6743 resistance. Sustaining this momentum might lead to testing a higher resistance at $1.75. Conversely, a bearish takeover could see the price revisiting the $1.4594 support, potentially sliding further to $1.3753.
With Michaël van de Poppe’s bullish perspective and Arbitrum’s current trajectory, the crypto community keenly observes the token’s progress. The anticipation revolves around whether Arbitrum can sustain its growth and achieve the projected $2 milestone. Arbitrum’s<a href="https://coingape.com/markets/crypto-price-prediction-today-december-22-op-rose-arb/" rel="noopener noreferrer nofollow"> recent</a> surge and the projections by Michaël van de Poppe highlight a moment in the cryptocurrency market.
<h3 id="span-style-font-weight-400-related-articles-span-span-style-font-weight-400-br-span">Related Articles </h3>
<ul>
 <li>&nbsp;<a href="https://coingape.com/markets/arbitrum-price-prediction-is-it-too-late-to-buy-arb-coin-after-a-50-price-rally/" rel="noopener noreferrer nofollow">Arbitrum Price Prediction: Is it Too Late to Buy ARB Coin after a 50% Price Rally?</a></li>
 <li><a href="https://coingape.com/markets/arbitrum-price-prediction-demand-pressure-at-1-18-encourage-arb-price-surge-of-25/" rel="noopener noreferrer nofollow">Arbitrum Price Prediction: Demand Pressure at $1.18 Encourage ARB Price Surge of 25%</a></li>
 <li><a href="https://coingape.com/markets/arbitrum-price-prediction-arb-price-on-recovery-track-sees-a-15-growth-potential-enter-now/" rel="noopener noreferrer nofollow">Arbitrum Price Prediction: ARB Price on Recovery Track Sees a 15% Growth Potential; Enter Now?&nbsp;</a></li>
</ul>
The post <a href="https://coingape.com/markets/arbitrum-price-prediction-analyst-predicts-2-milestone-amidst-58-surge/" rel="noopener noreferrer nofollow">Arbitrum Price Prediction: Analyst Predicts $2 Milestone Amidst 58% Surge</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Arbitrum Price Prediction: Analyst Predicts $2 Milestone Amidst 58% Surge

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