Market Analysis

ARBITRUM PRICE ANALYSIS & PREDICTION (March 15) – ARB Loses $2 Following A Huge Drop, Sets For A Correction Again? 

While most altcoins print new highs in the recent bullish cycle, Arbitrum remained quiet and struggled to advance higher. It lost ground following an 18% weekly cut amidst the latest crackdown in the market.

Following a steady climb from $1.55 in late January, ARB registered an impressive gain and almost recovered fully before facing rejections near $2.8 since last week. 

It consolidated briefly and failed to break above the mentioned price level during the last leg-up. Trading volume decreased significantly in the past week and the asset lost ground today. 

Rolling under the psychological $1.9 level due to the latest dip, the price tested a daily low of $1.8 and quickly bounced. Things are still looking dicey from the bulls’ side as the Layer 2 token poises for more drops on the daily chart. 

Now that the bears are showing interest owing to the latest drop in the global market cap, ARB may lose grip above the holding $1.8 level in the next few hours. A breakdown there could confirm a retracement move before resuming bullish impulsive. 

Should the crypto resume bullish, it must conquer the weekly rejected level along with January’s resistance before breaking up. Aside from lagging bullishly in the last rally, it remains an undervalued token to watch for a long-term gain.

ARB Key Level To Watch

Source: Tradingview

If the price cracks below the $1.8 level in the next dip, the potential support level to watch would be $1.6, followed by the $1.4 level in succession. 

Going above the psychological $2 mark, ARB would have to retake the weekly rejected $2.278 level and the $2.42 high, marked as January’s resistance. A successful crossover should set the crypto for a huge rally in the long term.

Key Resistance Levels: $2, $2.278, $, $2.42

Key Support Levels: $1.8, $1.6, $1.4

  • Spot Price: $1.86
  • Trend: Bullish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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