Ethereum 
$2,374 network’s major layer2 solution, Arbitrum, shows strong network activity, but what about its price? Due to the negative sentiment in the general market, the chart doesn’t look promising. A popular cryptocurrency analyst discussed the current situation and shared potential targets in case of a rise. How much will ARB Coin be worth?
How Much Will ARB Coin Be Worth?
Bitcoin (BTC) 
$78,815 fell below $55,000 again at the time of writing. Investors have become accustomed to the declines that come with the opening of the US markets. The BTC price, which was hovering above $55,600 before the stock markets opened, is now at $54,900. Cryptocurrency analyst Crypto Bullet pointed out his targets for ARB Coin under current conditions in the graph below.
“Is this the bottom for Arbitrum (ARB)? Or will there be more blood before Q4? I’m closely watching for a potential breakout.”
In the analyst’s shared graph, closures below $0.514 appear risky. It’s time for the downtrend to break here. However, if the ARB Coin price continues to make deeper lows, this means that the downtrend line will remain as resistance and continue to pressure the price.
If we see a rise in cryptocurrencies in general for the last quarter, the analyst’s targets for ARB Coin are $0.749 and $1.233, followed by $1.82. In an environment where the last key level has also turned into support, we could see the ARB Coin price return to $2.418.
ARB Coin Commentary
For now, although TVL and other network-related details are positive, ARB Coin is performing poorly independently of network strength. Sales accelerated with key unlocks as of May 2024. So much so that we see the price returning to the point where it started in April 2023.
In the four-hour chart, $0.472 has been tested multiple times but remains intact. The price, which fell to $0.433 in August, recovered quickly with buyers’ swift action. If BTC experiences a similar decline to last year, we could see spikes to $0.433 following the $0.472 support.
Due to the ongoing weakness in Bitcoin’s price, the lack of risk appetite in altcoins, and low expectations from investors since September, consolidation between $0.528 and support may continue in the short term.
