- Arbitrum (ARB), a Layer-2 project familiar to the Turkish crypto ecosystem, has been gaining attention due to its increasing network activity.
- Despite its impressive performance in terms of active users, surpassing the Solana ecosystem, the popular coin has yet to reflect this in its price, causing confusion among investors.
- As one of the potential stars of the 2024 bull market, it’s important to monitor certain levels for Arbitrum.
Arbitrum (ARB) is gaining attention due to its increasing network activity. Despite its impressive performance, the popular coin has yet to reflect this in its price, causing confusion among investors.
Arbitrum (ARB): The Final Turn!
ARB, a favorite among crypto investors, has been on a downtrend for a while. Currently, it is trying to maintain a critical support level, trading at the 0.96 band. The start of the Layer-2 trend, Bitcoin’s rise above $65,000, or a decrease in Bitcoin dominance could trigger an upward movement for the popular coin.
Potential Resistance Levels for ARB
In such a scenario, the resistance levels would be $1.2338, $1.4588, $1.6414, $1.70, $1.80, $2.1069, $2.2767, and $2.4240 respectively. Breaking the ATH would be a harbinger of a bull season for the pair. However, factors such as Layer-2’s silence compared to other trends, large unlockings, Bitcoin’s fall, or an increase in Bitcoin dominance could naturally create selling pressure on ARB. In such a scenario, a drop to the $0.8029 – $0.7319 range could occur. Losing these critical levels could trigger new selling waves.
Conclusion
ARB investors should pay attention to developments and news flow in the ecosystem during this period. Arbitrum, which has shown good performance in terms of active users, could gain momentum if it maintains the same pace. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making decisions.
