Arbitrum's (ARB) Cost Forecast: Bulls Maintain Defense at $0.48 as Peak Range High of $0.63 Emerges
In the realm of cryptocurrency, Arbitrum has been generating buzz as it rebounds from the $0.48 support level, currently trading at $0.52. This price increase follows a period of recovery, forming a higher-low pattern on the chart.
The setup suggests momentum is subtly building for Arbitrum. Analyst Munky recently remarked that ARB appears 'launchy,' hinting at a potential surge in the near future. If momentum persists, the range high at $0.63 could come back into play as a realistic upside target.
However, the $0.55 to $0.57 zone is pinpointed as the next resistance area to test. If Arbitrum can reclaim this region with conviction, it opens the door for another run towards $0.63. If price manages to test the upper Bollinger Band, it would align with the $0.60 to $0.63 range.
It's worth noting that while the search results don't mention any analyst predicting Arbitrum's price rising to the $0.63 level, a sustained move higher would bolster ARB's bullish case.
The mid-range level around $0.55 is the first key checkpoint for buyers before any larger move can materialize. Maintaining above $0.50 is crucial for preserving momentum. Arbitrum is holding steady around the $0.52 mark, with the chart showing price pressing against the mid-level of its Bollinger Bands.
Meanwhile, Arbitrum's DeFi TVL has surpassed $4B for the first time, indicating strong on-chain growth and rising liquidity inflows. This expansion fortifies the broader fundamentals supporting the ARB token.
If volume expands further on the upside, ARB could attempt another breakout. Whether ARB can surpass the $0.63 range now depends on how volume reacts at these mid-level checkpoints. If Arbitrum can break through this resistance, it could pave the way for a significant price increase.
In conclusion, Arbitrum's price movement and TVL growth suggest a positive outlook for the cryptocurrency. However, it's essential to keep an eye on the resistance levels and volume trends to accurately predict future price movements.
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