ARB PRICE PREDICTION TODAY!🔥 | ARBITRUM (ARB) PRICE PREDICTION & NEWS 2023!
Arbitrum Daily Update
In this video, the speaker provides an update on the fundamentals and technicals of Arbitrum. They discuss the current state of consolidation and predict a potential drop in price before a rally.
Fundamentals
- Daily active addresses are high and increasing.
- Transactions are still high but trending down.
- Total value locked is stable but not at its highest level.
Technical Analysis
- The ADX indicator shows that we are still trending, but nearing levels where we would consolidate.
- Short-term lower highs suggest that the price will drop to stronger support levels around 1.18 and 1.17.
- The speaker is debating whether support will be found at 1.17 or 1.1, but believes that Bitcoin's bearish momentum will affect Arbitrum's price as well.
- If support is found at 1.18/1.17 while Bitcoin drops to 27,500, there is a high chance of rallying from there.
Overall, the speaker predicts a potential drop in price before a rally and advises viewers to stay updated on future developments.
Timestamps may vary slightly depending on the version of the video being watched.