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Arbitrum was among the altcoins that outperformed the cryptocurrency market in December, soaring over 58% on its 30-day price chart. Meanwhile, renowned crypto expert Michael van de Poppe trusts the altcoin could extend its surges past $1.45 before climbing to explore the $2 territory.
I've posted some updates on $ARB.
— Michaël van de Poppe (@CryptoMichNL) December 28, 2023
Retest at $0.98 did work, continuation towards $1.35 as well and even further.
Some beautiful S/R flips, I think $1.40-1.45 should hold and we can continue to $2. pic.twitter.com/wIFEg26zq8
The analysts pointed at $ARB’s bullish trajectory, with a successive retest of the $0.98 value area. Also, he mentioned some significant support and resistance flips before the bulls dominate the $1.40 – $1.45 range to support swift upswings to $2.
Arbitrum is a layer2 scaling solution that uses top-notch rollup to boost Ethereum’s cost-efficiency, scalability, and speed. Meanwhile, Arbitrum leverages Ether’s compatibility and security to attain lower transaction charges and heightened throughput.
Meanwhile, the latest $ARB price increase reflects the increasing confidence and interest in L2 solutions to alleviate Ethereum challenges such as high fees and network congestion. Arbitrum addresses Ether’s concerns through a cost-effective and more efficient blockchain.
Crypto enthusiasts will likely keep Arbitrum on their radar, considering the impressive price performance and van de Poppe’s bullish forecasts.
$ARB price outlook
Arbitrum changed hands at $1.55 during this writing, up nearly 13% over the past 24 hours. It gained more than 35% in the previous week. Meanwhile, $ARB showcased remarkable momentum within the past 30 days, soaring 58.73 on the monthly price chart.
Further, the trading volume increased by 162% in the past day.
Surged trading volume amid positive price trends highlights positivity within the Arbitrum network. Continued optimism by market participants could push the altcoin towards the forecasted $2 region. Optimistic ecosystem developments could be crucial in keeping the altcoin afloat.
The post Arbitrum ($ARB) price outlook: popular analysts forecast bullish continuation after 58% surge appeared first on Invezz
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