Coin

<ul class="news-points"> 
 <li>An analyst said OP and ARB may price higher in the short term.</li> 
 <li>If buying pressure increases, ARB may close above $1.72.</li> 
 <li>OP’s recovery could be a sign that the token may breach the $3.44 resistance.</li> 
</ul> 
In two separate posts on X, dated January 7, the influencer Crypto Tony urged his followers participants not to miss out on <a href="https://coinedition.com/ethereum-l2-activity-rises-whats-in-it-for-arb-and-op/">Optimism’s (OP)</a> and <a href="https://coinedition.com/5-altcoins-on-fire-can-sei-arb-hbar-rune-and-gmx-sustain-the-rally/">Arbitrum’s (ARB</a>) next rallies. 
For ARB, the trader shared a weekly chart showing a bullish structure for the cryptocurrency. However, Tony opined that the price has to close above $1.86 to confirm a sustained uptrend.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
 <img decoding="async" width="604" height="569" src="https://coinedition.com/wp-content/uploads/2024/01/ARB-USD.png" alt="" class="wp-image-360603" style="width: 100%;height:auto" srcset="https://coinedition.com/wp-content/uploads/2024/01/ARB-USD.png 604w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-300x283.png 300w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-380x358.png 380w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-94x89.png 94w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-472x445.png 472w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-262x247.png 262w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-255x240.png 255w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-175x165.png 175w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-224x211.png 224w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-74x70.png 74w, https://coinedition.com/wp-content/uploads/2024/01/ARB-USD-80x75.png 80w" sizes="(max-width: 604px) 100vw, 604px">
 <figcaption class="wp-element-caption">
 <a href="https://twitter.com/CryptoTony__/status/1744072660701589958" target="_blank" rel="nofollow">$ARB / $USD </a>
 </figcaption>
 </figure>
</div> 
However, ARB’s performance in the last 24 hours may be a stumbling block to Tony’s prediction. According to <a href="https://coinmarketcap.com/currencies/arbitrum/" target="_blank" rel="nofollow">CoinMarketCap</a>, ARB’s price at press time was $1.64, indicating a 9.15% value decrease within the said period.&nbsp; 
<h2 class="wp-block-heading" id="h-arb-eyes-1-72-for-a-start">ARB Eyes $1.72 for a Start</h2> 
ARB’s sharp correction happened on January 7 as the price plunged from $1.86. However, it seems that bulls are trying to halt the correction, defending ARB at $1.65. 
Indications from the RSI showed a weakening upward momentum since the reading was 40.29. But signs from the RSI revealed that ARB might rebound. However, this migh…
The post <a href="https://coinedition.com/why-arb-and-ops-correction-may-not-last-long-analyst/">Why ARB and OP’s Correction May Not Last Long: Analyst</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Why ARB and OP’s Correction May Not Last Long: Analyst

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