Trading King

08/19 16:17

Arbitrum Price Prediction:

Arbitrum Price Prediction: Can $ARB Rebound Above $0.60 This Week?

Ethereum's push above $4,100 and a partnership with Robinhood favor a bullish Arbitrum price prediction. Can $ARB rise to $0.60?

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A partnership with the U.S.-based zero-commission trading platform Robinhood and Ethereum’s push above $4,000 favors a bullish Arbitrum price prediction despite the latest pullback that the token has experienced.

In the past 7 days, ARB has delivered gains of more than 15% as the native asset of this Ethereum layer-2 protocol has capitalized on what many deem as the beginning of altcoin season.

Ethereum (ETH) hit a local peak at around $4,850 while ARB rose to $0.58 for the first time in six months. Meanwhile, trading volumes in the past few days have been quite high and reached as much as $1.3 billion on August 13.

This figure accounted for nearly 50% of ARB’s circulating market cap and emphasizes the significant buying pressure that the token experienced as it reached these high levels.

Crypto Trader CryptoGem, who accurately anticipated ARB’s move to $0.60 recently, sees the token rising to $1 shortly following a bullish breakout and retest of a trend line resistance.

The first target for this trader, whose account is followed by more than 10,000 users, is the $0.66 level. He did not provide a timeline for this bullish Arbitrum price prediction but the odds favor a move to this area after this brief pullback.

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