Ticker: ARB
Category: Layer 2
Market Cap: $1,724,687,469
Circulating Supply: 1,275,000,000
Total Supply: 10,000,000,000
Price Update: Arbitrum is an Ethereum layer-two (L2) scaling solution. It uses optimistic rollups to achieve its goal of improving speed, scalability and cost-efficiency on Ethereum. Its price at the time of writing (4th May, 16:30) is $1.352 with 24-hour trading volume of $366,159,389. ARB price is up by 1.58% in the last 24 hours.
Source: Tradingview
With Reference to above Chart:
- After the launch in April’23, ARB experienced local top at $1.82. It is the project that is ranked #1 in Layer 2 category and have been upgrading constantly.
- Though there were some issues with the tokennomics distribution to the teams, for which the prices dipped, but later the proposals were passed to hold the sell-offs.
- Currently, in the 4-Hour chart frame, ARB prices dipped below 200 EMA (Blue Line), and prices took support form $1.29.
- The price action is trying to break 200 EMA on H4 for the 2nd time this time.
- A breakout from here, will lead to two liquidity capture for the upside, these liquidities are lying at $1.4 and $1.45.
- A Long Trading strategy can be assessed between $1.35-$1.29, with invalidation below $1.29.
- On the upside, one can see 5-6% gains towards $1.43 with 1st level of at $1.39 before moving further up.
- It is advisable to maintain a good risk to reward ratio and limit the use of leverage and position size.
Note: ARB is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade ARB Futures in CoinDCX Pro
Disclaimer:
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
