Is Arbitrum (ARB) Getting Ready to Make an Exit?
Arbitrum (ARB), which has been displaying stability around $1 for a long time, has witnessed a 7% surge in the last two days, approaching a potential breakout.
The crypto market continues its bullish momentum. The rise of BTC to the $39,000 range has reignited the rally for altcoins. BTC experienced a volatile chart last week, leading to pullbacks in altcoins. Major coins, influenced by BTC, followed a relatively stable price graph. ARB, one of these majors, has displayed stability around $1 for an extended period.”
ARB, drawing attention with its tranquility in the $1 range, has surged by 7% in two days, approaching a significant breakthrough. If market conditions remain positive, ARB could rise to $1.20
Can Arbitrum (ARB) Experience an Upsurge?
The popular layer-2 project Arbitrum (ARB) is preparing to make a move after staying calm in the $1 range for an extended period. ARB has surged by 7% in the last two days.
ARB couldn’t keep pace with the positive trend in the crypto market in November. The popular cryptocurrency concluded its decline, which began at $1.22 on November 8th, in the $0.95 range by November 22nd. Towards the end of November, ARB reclaimed the $1 mark, displaying calm price movements in that region. Despite all expectations, ARB struggled to make a breakthrough but started December on a strong note.
ARB experienced a 7% surge throughout the month of December, rising from $1 to $1.0790. The popular cryptocurrency, a layer-2 project, witnessed a 12% increase in volume in the last 24 hours. ARB’s volume reached $219 million in the past 24 hours.
With a 7% surge, the popular cryptocurrency is on the rise. If ARB can maintain its position above $1.05, the upward momentum may continue. The critical resistance level for ARB is at $1.0871. Upon surpassing this point, the range between $1.146 and $1.166, which is also considered a selling zone, could come into focus. If this zone can be overcome, it may trigger a potential breakout, propelling the ARB price back to $1.20.”