- Arbitrum reaches $5B TVL, reflecting strong investor confidence and market interest.
- ARB aims to break $1.2 resistance; a successful move could push it to $2.2.
- Golden cross signals bullish momentum despite recent pullbacks and short-term fluctuations.
Arbitrum (ARB) has reached a major milestone with a record-high $5 billion in total value locked (TVL). This shows growing investor trust and market interest. Technical charts point to a bullish breakout after a prolonged period of sideways trading. A golden cross formation adds to the optimism. ARB could potentially climb toward $2.2, but resistance at $1.2 will likely test this momentum soon.
Analyzing ARB’s Breakout and the $1.2 Resistance
Arbitrum has broken free from a two-year-long period of consolidation. This movement suggests a possible climb past $1.2. If successful, ARB could push toward $2.2. The golden cross is a strong technical indicator supporting this upward trend. Currently, ARB trades at $1.07, showing a 7.15% drop in the past day. Despite this, the RSI is at 62.3, signaling strong bullish energy. This suggests that investor confidence remains intact despite recent price dips.
Around 22,500 active addresses engage with ARB daily. This shows steady interest from users. Higher activity could lead to increased trading volume, which would strengthen ARB’s market momentum. The Open Interest Weighted Funding Rate stands at 0.0355, reflecting positive market sentiment. This means many traders are taking long positions, adding more weight to ARB’s bullish trend.
Can ARB Climb to $2.2?
ARB shows strong bullish momentum, driven by its record-high TVL and recent breakout. Resistance at $1.2 will likely remain a key obstacle. However, technical indicators point to continued upward momentum.
Short-term price dips could occur, but the overall trend looks positive. If ARB moves past $1.2, a push toward $2.2 seems likely. Positive investor sentiment, technical trends, and engagement levels could keep this momentum going.
Arbitrum hit $5B TVL, showing strong investor confidence and market growth.Resistance at $1.2 is the next major hurdle for ARB’s upward movement.A successful breakout could push ARB toward $2.2 in the coming weeks.
The post Arbitrum Soars to $5B TVL: Will ARB Reach $2.2 Next? appeared first on Crypto News Land.
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