2024

Arbitrum

Daily

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/arbitrum-arb-price-hits-all-time-high-of-2-42/" data-wpel-link="internal">Arbitrum (ARB) Price Hits All-Time High of $2.42</a><br></p>
<p style="text-align: justify"><strong>Arbitrum (ARB)</strong> price rapidly increased in 2024, reaching an all-time high of $2.42 today. The ARB price has been on the rise since September 2023, following a parabolic ascending support trend line. This trend line has been confirmed several times, most recently in December.</p> 
<h2 id="arb-s-growth-accelerates">ARB’s Growth Accelerates</h2> 
<p style="text-align: justify">Later, ARB’s growth rate accelerated even further. It broke out from its previous all-time high of $1.70 at the beginning of 2024 and confirmed it as support. Since that period, the ARB price has increased by 60%, reaching today’s all-time high of $2.42. Moreover, cryptocurrency analysts on <strong>Twitter</strong> are extremely optimistic about the future trend of ARB. Javon Marks believes the price will reach at least $2.60. Daily timeframe technical analysis indicates that the ARB price trend is still bullish but points to a potential local peak.</p> 
<p style="text-align: justify">Technical analysts use Elliott Wave theory to determine the direction of the trend by examining recurring long-term price patterns and investor psychology. Wave counting indicates that <strong>ARB</strong> is in the third wave of a five-wave upward movement. The third wave has extended and is almost 2.61 times the length of the first wave. The rapid rise of the third wave has created a parabolic upward movement.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-301130 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/arb.webp" alt="" width="1807" height="809"></p> 
<h2 id="current-data-on-arb">Current Data on ARB</h2> 
<p style="text-align: justify">The daily Relative Strength Index (RSI) shows a sign of a local peak as it has formed a downtrend, which supports the likelihood of an impending peak. Therefore, the first level for the local peak is 15% above the current price, at $2.65. If the third wave expands further and reaches 3.61 times the length of the first wave, ARB could rise by 45%, reaching the next resistance level of $3.28.</p> 
<p style="text-align: justify">Daily timeframe technical analysis may show that the ARB price trend is still bullish but indicates a potential local peak. Therefore, the first level for the local peak is 15% above the current price, at $2.65. If the third wave expands further and reaches 3.61 times the length of the first wave, ARB could rise by 45%, reaching the next resistance level of $3.28.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/arbitrum-arb-price-hits-all-time-high-of-2-42/" data-wpel-link="internal">Arbitrum (ARB) Price Hits All-Time High of $2.42</a></h5>

Arbitrum (ARB) Price Hits All-Time High of $2.42

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