Arbitrum (ARB) Price Prediction 2023 — Will ARB Hit $2 Soon?

• Bullish ARB price prediction for 2023 is $1.2829 to $1.4017.
• Arbitrum (ARB) price might reach $2 soon.
• Bearish ARB price prediction for 2023 is $1.0514.

In this Arbitrum (ARB) price prediction 2023, we will analyze the price patterns of ARB by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency.

Arbitrum (ARB) Current Market Status

What is Arbitrum (ARB)?

Arbitrum is a new layer-2 scaling solution for the Ethereum blockchain developed by a new york based company known as Off-chain Labs. Layer-2 scaling solutions are networks that sit on top of layer-1 blockchains to provide cheap and fast transactions. They reduce the congestion on the main blockchain by validating transactions separately and integrating them into the main chain.  

After its mainnet launch last year, Arbitrum’s scaling solution has seen a lot of success. As a result of this, several developers have used Arbitrum’s solutions to host their dApps. Also, Arbitrum supports integration with Ethereum Virtual Machine (EVM) making it easy for developers. 

Arbitrum (ARB) Price Prediction 2023

Arbitrum (ARB) ranks 35th on CoinMarketCap in terms of its market capitalization. The overview of the Arbitrum price prediction for 2023 is explained below with a daily time frame.

ARB/USDT Descending Channel Pattern (Source: TradingView)

In the above chart, Arbitrum (ARB) laid out a descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is characteristic of a bearish market.

At the time of analysis, the price of Arbitrum (ARB) was recorded at $1.1702. If the pattern trend continues, then the price of ARB might reach the resistance levels of $1.3647 and $1.5090. If the trend reverses, then the price of ARB may fall to the support of $1.2002.

Arbitrum (ARB) Support and Resistance Levels

The chart given below elucidates the possible resistance and support levels of Arbitrum (ARB) in 2023.

ARB/USDT Support and Resistance Levels (Source: TradingView)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Arbitrum (ARB). 

As per the above analysis, if Arbitrum’s (ARB) bulls take the lead, then it might hit and break through its resistance level of $1.4017.

Conversely, if Arbitrum’s (ARB) bears dominate the trend, the price of ARB might plunge to  $1.0514.

Arbitrum (ARB) Price Prediction 2023 — RVOL, MA, and RSI

The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Arbitrum (ARB) are shown in the chart below.

ARB/USDT RVOL, MA, RSI (Source: TradingView)

The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes.  It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment. 

At the time of analysis, the RVOL of Arbitrum (ARB) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.

The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days.  When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).

Notably, in the above chart, the ARB price lies below 50 MA (short-term), indicating its downward. Hence, ARB is in a bearish state. Although this is the current state, a trend reversal might occur.

Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state. 

Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.

At the time of analysis, the RSI of ARB is at 33.25. Therefore, this indicates ARB is nearly oversold.

Arbitrum (ARB) Price Prediction 2023 — ADX, RVI

In the below chart, we analyze the strength and volatility of Arbitrum (ARB) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).

ARB/USDT ADX, RVI (Source: TradingView)

To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.

According to the data on the above chart, the ADX of ARB lies in the range of 38.55 pointing out a strong trend. 

The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of ARB lies below 50, indicating low volatility.

Comparison of ARB with BTC, ETH

Let us now compare the price movements of Arbitrum (ARB) with that of Bitcoin (BTC), and Ethereum (ETH).

BTC Vs ETH Vs ARB Price Comparison (Source: TradingView)

From the above chart, we can interpret that the price action of ARB is similar to that of BTC and ETH. That is, when the price of  BTC and ETH increases or decreases, the price of ARB also increases or decreases respectively.

Arbitrum (ARB) Price Prediction 2024-2030

With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Arbitrum (ARB) between 2024 and 2030.

Arbitrum (ARB) Price Prediction 2024

If bulls dominate the price momentum and trend patterns, then Arbitrum (ARB) might successfully test and surpass its resistance levels to hit $4 by 2024.

Arbitrum (ARB) Price Prediction 2025

The significant upgrades in the Arbitrum ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Arbitrum (ARB) price to reach $6 by 2025.

Arbitrum (ARB) Price Prediction 2026

If Arbitrum (ARB) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $8

Arbitrum (ARB) Price Prediction 2027

If Arbitrum (ARB) sustains major resistance levels and stands as a better investment option in the market, then ARB would rally to hit $10 

Arbitrum (ARB) Price Prediction 2028

If Arbitrum (ARB) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then ARB would hit $12 by 2028.

Arbitrum (ARB) Price Prediction 2029

If investors flock in and continue to place their bets on Arbitrum (ARB), then the crypto would witness major spikes. Hence, ARB might hit $14 by 2029.

Arbitrum (ARB) Price Prediction 2030

By 2030, the ARB price might rally to $16 if the trend momentum aligns in favor of Arbitrum. Furthermore, ARB would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.

Conclusion

If Arbitrum (ARB) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Arbitrum (ARB) price prediction for 2023 is $1.6048. Comparatively, the bearish Arbitrum (ARB) price prediction for 2023 is $1.1545.  

If there is a positive elevation in the market momentum and investors’ sentiment, then Arbitrum (ARB) might hit $2. Furthermore, with future upgrades and advancements in the Arbitrum ecosystem, ARB might surpass its current all-time high (ATH) of $11.80 and mark its new ATH. 

FAQ

1. What is Arbitrum (ARB)?

Arbitrum is a new layer-2 scaling solution for the Ethereum blockchain developed by a new york based company known as Off-chain labs.

2. Where can you buy Arbitrum (ARB)?

Traders can trade Arbitrum (ARB) on the following cryptocurrency exchanges such as Binance, OKX, CoinW, Bitrue, and Bybit.

3. Will Arbitrum (ARB) record a new ATH soon?

With the ongoing developments and upgrades within the Arbitrum platform, Arbitrum (ARB) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Arbitrum (ARB)?

Arbitrum (ARB) hit its current all-time high (ATH) of $11.80 on March 23, 2023.

5. What is the lowest price of Arbitrum (ARB)?

According to CoinMarketCap, ARB hit its all-time low (ATL) of $1.1045 On March 2023.

6. Will Arbitrum (ARB) hit $2?

If Arbitrum (ARB) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $2 soon.

7. What will be the Arbitrum (ARB) price by 2024?

Arbitrum (ARB) price might reach $4 by 2024.

8. What will be the Arbitrum (ARB) price by 2025?

Arbitrum (ARB) price might reach $6 by 2025.

9. What will be the Arbitrum (ARB) price by 2026?

Arbitrum (ARB) price might reach $8 by 2026.

10. What will be the Arbitrum (ARB) price by 2027?

Arbitrum (ARB) price might reach $10 by 2027.

  Top Crypto Predictions

• Ripple (XRP) Price Prediction 2023
• Shiba Inu (SHIB) Price Prediction 2023
• Dogecoin (DOGE) Price Prediction 2023

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.