Arbitrum (ARB) Price Prediction – When will ARB hit $10?

Since its airdrop, the Ethereum Layer 2 scaling solution Arbitrum Network ($ARB) has attracted considerable attention from cryptocurrency traders. It achieves high performance via bullish summaries.
Friday's trading volume for an arbitrum coin, listed on several exchanges, including Binance, OKX, and Bybit, was approximately $1.4 billion, according to the most recent market data. Its current market capitalization of approximately $1.7 billion indicates high volatility in the coming weeks.
According to the aggregated data compiled by Defillama, Arbitrum ranks fourth in terms of total value locked, with an aggregate of $2.24 billion locked in. Several decentralized financial ecosystems, such as Uniswap V3, Sushi, GMX, and AAVE V3, have already launched on the Arbitrum chain. Web3 developers have also introduced DEXs such as Camelot, ZyberSwap, and Vela Exchange.
The business activities of arbitrum token whale addresses have intensified, as reported by the on-chain analysis platform Santiment. For example, a whale named Amber transferred approximately $15.8 million worth of $ARB 11.2 million to OKX and Binance. The Amber whale currently possesses 4.47 million Arbitrum tokens worth approximately $6,300,000.
According to reports, the largest whale in Arbitrum possesses 9,94 million $ARB tokens worth $14 million. As more Arbitrum whales withdraw tokens from centralized exchanges in the coming weeks, the price could gain traction during an anticipated altcoin rally.
Let’s see the upcoming Arbitrum (ARB) Price Prediction from the ARB/USDT technical analysis:
ARB/USDT Intraday Price Offers A Long Opportunity
ARB was launched recently on several exchanges and there is not enough data on the daily chart to provide a long-term perspective.
In the H4 chart, the current price is trading within a bullish pressure. After setting a top on 24 March 2023, sellers joined the market. After a 28.8% loss, the price shows a bullish recovery. The bulging break of structure at the 1.3446 swing high made 1.1109 level a solid bottom. Moreover, the bullish rally from 1.1109 level came with a valid rally-base rally formation.
The demand zone at 1.2429 to 1.1952 would be a valid order block from where a strong upside pressure came with an imbalance formation. As the current price is aiming higher with a trendline support, a bearish pressure is pending to grab the trendline liquidity.
In the indicator window, the current MACD Histogram is positive, while MACD EMA’s are at the overbought area. In that case, the overall outlook is bullish as per the Histogram’s position but a minor correction is pending from the overbought EMA’s.
In the primary chart, the dynamic 20 day EMA is below the current price and working as an immediate support level. In that case, a sell-side pressure below the dynamic support with an immediate recovery could offer an early buying opportunity.
Based on the H4 Arbitrum Price Prediction, the first buying opportunity may come from a bullish rejection from the dynamic 20 EMA support level, which can increase the price towards the 1.5611 swing high. The second buying opportunity is available at the 1.2429 to 1.1952 demand zone with a proper candlestick formation.
However, a bearish break with a daily candle below the 1.1800 level could eliminate the current buying possibility and lower the price toward the 1.1100 key support level.
ARB/USDT Ichimoku Cloud Analysis
In the hourly chart, the broader outlook of ARB/USDT is bullish as the current price is aiming higher above the dynamic Cloud support. In that case, the primary trading idea is to look for long opportunities, targeting the 1.5600 level.
In the future cloud, the Senkou Span A is above B with a stable momentum, while the Lagging Span is above the current price. Moreover, a bullish breakout above the Cloud support came with impulsive pressure, which is still holding the momentum.
The Traders Dynamic Index Indicator is a unique tool to measure traders' sentiment in the market. It shows a sideways pressure as the current TDI level is at the 50.00 neutral zone.
Based on the Ichimoku Cloud ARB Price Prediction, any bullish H1 candle above the dynamic Kijun Sen support could validate the buying opportunity, targeting the 1.5600 level.
On the other hand, bears should wait for the price coming below the 1.3032 level, which would increase the possibility of testing the 1.1900 psychological support level.
ARB/USDT Intraday Price Action Analysis
As per the intraday price outlook, the visible range high volume level is below the current price, which is a primary sign of bullish momentum.
In the main chart, the dynamic 20 EMA and weekly VWAP are working as confluence support to the price, while the recent intraday high volume levels made multiple higher highs.
The indicator window shows that sellers presence is weakening as the MACD Histogram reaches the neutral zone from the bearish territory.
Based on this outlook, a bullish H1 candle above the 1.4325 level would validate the buying opportunity, targeting the 1.6500 level.
On the other hand, a solid downside pressure with an H4 close below the 1.2321 high volume level could eliminate the bullish possibility and lower the price towards the 1.1000 level.
Is ARB/USDT A Buy?
Based on the current price outlook, a minor downside correction is pending in the ARB/USDT pair, where a high probable buying opportunity may come from the H4 order block. However, investors closely monitor how the price trades at this level, as valid bullish rejection is the primary requirement to open a long position.