Arbitrum Gained 8.15% in Last Month and is Predicted to Reach $0.713512 By Oct 13, 2024

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Arbitrum is down -3.08% today against the US Dollar
• Arbitrum is currently trading 23.03% below our prediction on Oct 13, 2024
• Arbitrum gained 8.15% in the last month and is down -35.44% since 1 year ago

ARB price is expected to rise by 30.06% in the next 5 days according to our Arbitrum price prediction

Arbitrum price today is trading at $ 0.549197 after losing -3.08% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -2.52% in the same time period. ARB performed poorly against BTC today and recorded a -1.03% loss against the world’s largest cryptocurrency.

According to our Arbitrum price prediction, ARB is expected to reach a price of $ 0.713512 by Oct 13, 2024. This would represent a 30.06% price increase for ARB in the next 5 days.

ARB Price Prediction Chart

Buy/Sell Arbitrum

What has been going on with Arbitrum in the last 30 days

Arbitrum has been displaying a positive trend recently, as the coin gained 8.15% in the last 30-days. The medium-term trend for Arbitrum has been bearish, with ARB dropping by -22.98% in the last 3 months. The long-term picture for Arbitrum has been negative, as ARB is currently displaying a -35.44% 1-year price change. On this day last year, ARB was trading at $ 0.850711.

Arbitrum reached its all-time high price on Mar 23, 2023, when the price of ARB peaked at $ 8.67. The current ARB cycle high is $ 0.678523, while the cycle low is at $ 0.432172. ARB has been displaying low volatility recently – the 1-month volatility of the coin is at 7.97. Arbitrum recorded 17 green days in the last 30 days.

Arbitrum technical analysis for today – Oct 08, 2024

The sentiment in the Arbitrum markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 0.542101, $ 0.533940 and $ 0.517789, while $ 0.566413, $ 0.582564 and $ 0.590725 are the key resistance levels.

Bearish sentiment for Arbitrum

4 indicators are currently signaling a bullish prediction for Arbitrum, while 22 indicators are showing a bearish forecast. With 85% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Arbitrum.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 49 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Arbitrum moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Arbitrum is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Arbitrum is at 45.77, suggesting that ARB is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Arbitrum over the last 50 days. Currently, Arbitrum is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the ARB closing price for the last 200 days. ARB is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Arbitrum prediction

After considering the above factors, we can conclude that the current forecast for Arbitrum price prediction is Bearish. ARB would have to increase by 30.06% to hit our $ 0.713512 target within the next five days. Moving forward, it will be important to monitor the ARB market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Arbitrum price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.