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Arbitrum

Arbitrum price forecast: ARB, a leading <a href="https://coingape.com/education/whats-layer-1-layer-2-and-layer-3-in-blockchain-key-differences-with-examples/" rel="noopener noreferrer nofollow">layer-2</a> Ethereum scaling solution, has encountered a notable dip in its market value, with a bearish trend exerting significant pressure. In the last 24 hours, the cryptocurrency has experienced a sharp decline of over 7.90%, signaling intense selling activity. Currently, ARB stands at $1.57, having fallen beneath the previously held $2.00 support level.
<h2 id="strong-arbitrum-price-forecast-bearish-trends-signal-caution-strong">Arbitrum Price Forecast: Bearish Trends Signal Caution</h2>
Despite the recent downturn, <a href="https://coingape.com/arbitrum-arb-price-corrects-25-market-cap/" rel="noopener noreferrer nofollow">Arbitrum</a> remains a formidable player in the cryptocurrency space, securing the 29th spot on <a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/arbitrum/">CoinMarketCap</a>. Its market capitalization has impressively surged by more than 90%, reaching $4.17 billion and underscoring its growing influence in the market.&nbsp;
Moreover, there’s been a notable 74% increase in the 24-hour trading volume, now at $1.26 billion, indicating heightened investor engagement and interest.
<figure id="attachment_186821" aria-describedby="caption-attachment-186821" style="width: 100%" class="wp-caption aligncenter"><a href="https://coingape.com/wp-content/uploads/2024/03/Arbitrum-price-forecast-e1710860688364.png" rel="noopener noreferrer nofollow"><img decoding="async" class="size-full wp-image-186821" src="https://coingape.com/wp-content/uploads/2024/03/Arbitrum-price-forecast-e1710860688364.png" alt="Arbitrum Price Forecast: Are Whales Waiting To Buy ARB At $1 After Token Unlocks?" width="1200" height="553"></a>
 <figcaption id="caption-attachment-186821" class="wp-caption-text">
 Arbitrum Price Forecast
 </figcaption>
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Over the past week, ARB has exhibited a slight downward trajectory, fluctuating between $2.25 and $1.45. This trend has contributed to a weekly decline exceeding 21%. Over the month, the altcoin has depreciated by 25%, illustrating its inherent volatility.
<h2 id="strong-why-is-arbitrum-price-going-downwards-strong">Why Is Arbitrum Price Going Downwards?</h2>
The recent fluctuations in <a href="https://coingape.com/blog/arbitrum-price-why-is-arb-price-falling/" rel="noopener noreferrer nofollow">Arbitrum price</a> can be attributed to the significant exchange of assets among investors triggered by the latest <a rel="noopener noreferrer nofollow" href="https://token.unlocks.app/arbitrum">ARB</a> token unlock event. On March 16, the Layer-2 network released over 1 billion ARB tokens, valued at upwards of $2 billion, in a highly anticipated “Cliff Unlock” event. This massive release led to varied predictions about its market impact, with many expecting a surge in short-selling activities.
If the bearish pressure persists, ARB’s price may well approach the next support level at $1.30. A further decline could potentially push the price down to the $1.00 threshold, exerting additional downward pressure on the token’s short-term market outlook.
Conversely, a bullish resurgence could propel the<a href="https://coingape.com/markets/arbitrum-price-prediction-as-pattern-hints-a-rally-to-3/" rel="noopener noreferrer nofollow"> ARB price</a> above the $1.70 mark, with the next significant resistance level at $1.90. Sustained positive momentum could challenge the $3.00 resistance, potentially leading to a notable bullish breakout.
<h2 id="strong-technical-analysis-indicators-suggest-bearish-momentum-strong">Technical Analysis: Indicators Suggest Bearish Momentum</h2>
The daily Technical Indicators for Arbitrum reveal a market that is currently experiencing fluctuations. The Relative Strength Index (RSI) has dipped below the midpoint, now hovering below 30, which suggests a bearish momentum as the price is in the oversold territory.&nbsp;
<figure id="attachment_186822" aria-describedby="caption-attachment-186822" style="width: 100%" class="wp-caption aligncenter"><a href="https://coingape.com/wp-content/uploads/2024/03/ARBUSDT_2024-03-19_16-55-04.png" rel="noopener noreferrer nofollow"><img decoding="async" class="size-full wp-image-186822" src="https://coingape.com/wp-content/uploads/2024/03/ARBUSDT_2024-03-19_16-55-04.png" alt="Arbitrum Price Forecast: Are Whales Waiting To Buy ARB At $1 After Token Unlocks?" width="1154" height="622" srcset="https://coingape.com/wp-content/uploads/2024/03/ARBUSDT_2024-03-19_16-55-04.png 1154w, https://coingape.com/wp-content/uploads/2024/03/ARBUSDT_2024-03-19_16-55-04-300x162.png 300w, https://coingape.com/wp-content/uploads/2024/03/ARBUSDT_2024-03-19_16-55-04-768x414.png 768w, https://coingape.com/wp-content/uploads/2024/03/ARBUSDT_2024-03-19_16-55-04-150x81.png 150w" sizes="(max-width: 1154px) 100vw, 1154px"></a>
 <figcaption id="caption-attachment-186822" class="wp-caption-text">
 Arbitrum Price Forecast| Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/wfhc6MNR/">Tradingview</a>
 </figcaption>
</figure>
Meanwhile, the Moving Average Convergence Divergence (MACD) has a bearish crossover, as reflected by the blue line crossing below the signal line. This often signals potential downward momentum. The histogram also shows a series of red bars, reinforcing the bearish sentiment. 
The post <a href="https://coingape.com/markets/arbitrum-price-forecast-are-whales-waiting-to-buy-arb-at-1-after-token-unlocks/" rel="noopener noreferrer nofollow">Arbitrum Price Prediction: Are Whales Waiting To Buy ARB At $1 After Token Unlocks?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Arbitrum Price Prediction: Are Whales Waiting To Buy ARB At $1 After Token Unlocks?

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