Ethereum $2,325.70 Arbitrum, one of the largest layer 2 solutions on its network, is strong in terms of network activity, but what about the price? The chart is not very encouraging due to the negativity in the general market sentiment. One of the popular cryptocurrency analysts discussed the current situation and shared his targets for a possible rise. How many dollars will ARB Coin be?
How Many Dollars is ARB Coin?
Bitcoin (BTC) 
$55,278.30 At the time of writing, it fell below $55,000 again. Investors have become accustomed to the declines that come with the opening of the US markets. Before the stock markets opened, it lingered above $55,600 BTC price It is now at $54,900. Cryptocurrency analyst Crypto Bullet has marked his targets for ARB Coin in the current conditions on the chart below. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“This Arbitrum “Bottom for (ARB)? Or more bloodshed before Q4? Watching closely for a potential breakout.”
In the graph shared by the analyst, closing below $0.514 seems risky. It is time for the downtrend to break here. However, if the ARB Coin price continues to make deeper lows, this will mean that the downtrend line will remain as resistance and continue to pressure the price.
If we see an increase in cryptocurrencies in general for the last quarter, the analyst’s targets for ARB Coin are $ 0.749 and $ 1.233, followed by $ 1.82. In an environment where the last key level turns into support, we can see the ARB Coin price return to $ 2.418.
ARB Coin Comment
For now, TVL and other details about the network are positive, though ARB Coin It performs poorly regardless of network strength. As of May 2024, the sales accelerated and intensified with the lock openings. So much so that we see that the price has returned to the point where it started in April 2023.
On the four-hour chart, $0.472 has been protected despite seeing needles many times. The price, which fell to $0.433 in August, recovered as buyers took quick action. If BTC experiences a similar decline as last year, needles to $0.433 could be seen following the $0.472 support.
Consolidation between the support at $0.528 may continue in the short term due to the ongoing weakness in Bitcoin prices, lack of risk appetite in altcoins, and the lack of expectations from investors in September.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
