Arbitrum's (ARB) price is showing signs of recovery after a downturn. The main reason is the anticipation of a key announcement from Robinhood that may involve ARB.
Reasons for Arbitrum's Price Surge
The surge in Arbitrum's price is attributed to growing speculation about a partnership with Robinhood and Offchain Labs. Over the weekend, Robinhood announced a discussion featuring Vitalik Buterin and other key figures, which sparked optimism among investors. This partnership could lead to the integration of Arbitrum into Robinhood's products and significantly increase its popularity.
Daily Chart Analysis of ARB
According to the daily chart, ARB is currently priced at approximately $0.3643, up 6% from previous days. The chart shows a series of positive candles indicating a potential trend reversal. The price has reached the 0.236 Fibonacci retracement level and is testing the key resistance around $0.38.
Short-Term ARB Price Prediction
If ARB can surpass the $0.38–$0.40 range with strong volume, the next target price is likely $0.50. However, if it fails to hold above $0.36–$0.38, it could drop to $0.30.
Given the current situation, Arbitrum's price has potential upsides if key support levels are maintained. Investors should carefully monitor developments and technical indicators.
