Ethereum

Pendle

2024

Arbitrum

<p>The post <a href="https://coinpedia.org/price-analysis/arbitrum-poised-for-rebound-arb-price-will-soon-breakout-after-3-months-of-correction/" rel="noopener noreferrer nofollow">Arbitrum Poised for Rebound: ARB Price Will Soon Breakout After 3-Months of Correction</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>After being trapped in a correction mode in the past three months, Arbitrum (ARB), a leading Ethereum-based layer two (L2) scaling solution that has facilitated more than $12.5 billion in bridged TVL, has signaled an inevitable rebound in the coming month. With a fully diluted valuation of about $10 billion, the mid-cap altcoin has established a solid support level of around $1 after dropping 33 percent in the past month.</p>
<p>Backed by reputable crypto venture capital firms and web3 developers, Arbitrum has grown to a top-tier scaling solution. Moreover, the recent Ethereum network upgrade dubbed Dencun dramatically reduced the transaction fees for the layer-two networks.</p>
<h2 class="wp-block-heading" id="h-arbitrum-rising-on-chain-activity">Arbitrum Rising On-chain Activity</h2>
<p>Having attracted dozens of reputable Web3 projects on the Ethereum ecosystem—led by Pendle yield, AAVE V3 lending, GMX derivatives, and Uniswap—the Arbitrum network has resultantly registered heightened on-chain activity.&nbsp;</p>
<p>According to market data provided by IntoTheBlock, the number of daily transactions on the Arbitrum network has recently increased significantly to about 2 million, up from 1 million in early March.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Arbitrum transactions are surging<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Since early March, the number of transactions on Arbitrum has increased strongly, reaching over 2 million daily transactions yesterday—a significant rise from the early March average of ~1 million. <a href="https://t.co/D169IAE18L" rel="noopener noreferrer nofollow">pic.twitter.com/D169IAE18L</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1788465231032717794?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-arb-price-midterm-targets">ARB Price Midterm Targets</h2>
<p>Having established itself as a leader in the Ethereum scaling solution, ARB demand is bound to outshine the supply. Currently, only a quarter of ARB’s max supply is in circulating supply.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The TD Sequential presents a buy signal on the <a href="https://twitter.com/hashtag/Arbitrum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Arbitrum</a> weekly chart. It anticipates a one to four candlesticks rebound for <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ARB</a>! <a href="https://t.co/ITylXqmVF2" rel="noopener noreferrer nofollow">pic.twitter.com/ITylXqmVF2</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1788485954656747933?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>According to a popular crypto analyst Ali Martinez, the TD Sequential indicator has presented a buy signal on the weekly ARB price against the U.S. dollar. As a result, the crypto analyst expects ARB price to register at least four bullish weekly candlesticks.&nbsp;</p>
<p>In the short term, ARB price could reach $1.25, which coincides with the 0.618 daily Fibonacci Extension. A successful breakout on this resistance level will pump the ARB price towards $1.5, which coincides with the 1.618 Fibonacci Extension.</p>

Arbitrum Poised for Rebound: ARB Price Will Soon Breakout After 3-Months of Correction

Table of Contents

CoinPedia News

Other articles published on May 9, 2024

Market Watch: Bitgert Coin Price Projected to Surge This Week

Donald Trump Voices Opinions On 'Jeo Boden' Memecoin, TREMP Rallies 160% In 24 Hours

Mysterious Whale Pulls 6,030 Ethereum (ETH) From Exchange as Price Eyes $3,000

Shiba Inu (SHIB) Burn Rate Skyrockets 200% Amid Price Volatility: Future Predictions for the Cryp...

VanEck Subsidiary Launches Index Exclusively Featuring Memecoins

XRP News Today: Ripple Can Counter SEC’s Attacks on Stablecoin With Binance Ruling

Join our free newsletter for daily crypto updates!