Arbitrum Price Prediction: Network Activity, DeFi TVL Expand

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Arbitrum Price Prediction: Network Activity, DeFi TVL Expands, Can ARB Climb To $1.7 ? #EarnFreeCrypto2024 #Megadrop #BinanceLaunchpool #BlackRock #MicroStrategy Arbitrum Price Prediction: The Bitcoin price hovering above $67000 since last week has sparked a broader market consolidation. Along with most of the major altcoins, the Arbitrum shows this uncertainty in price behaviors. The coin price is developing alternative green and red candles in the daily chart between the horizontal levels of $1.26 and $1.12. Will this lack of initiation from buyers or sellers lead to a prolonged sideways trend in the ARB price? Amid the broader market recovery, the Arbitrum developed a local bottom at $0.923 level. A potential turnaround from this support has uplifted the altcoin value by 38% to challenge the overhead resistance at $1.275. Additionally, data from the on-chain analytics aggregator DeFiLlama reveals that the Total Value Locked (TVL) in Arbitrum has surged from $2.34 billion at the onset of May to $3.093 billion, marking a substantial growth of approximately 32.2%. This increase in TVL signifies growing confidence and investment in the Arbitrum network, indicating a robust and expanding ecosystem that continues to attract more users and capital. An analysis of the daily chart shows the ARB price developing a bullish reversal pattern called inverted head and shoulder pattern. If the chart setup holds true, the Arbitrum currently trading at $1.18 could breach the overhead resistance of $1.275.This potential breakout will accelerate the buying momentum and set the asset for higher targets at $1.6, followed by $1.74.

Arbitrum Price Prediction: Network Activity, DeFi TVL Expands, Can ARB Climb To $1.7 ?
#EarnFreeCrypto2024 #Megadrop #BinanceLaunchpool #BlackRock #MicroStrategy 
Arbitrum Price Prediction: The Bitcoin price hovering above $67000 since last week has sparked a broader market consolidation. Along with most of the major altcoins, the Arbitrum shows this uncertainty in price behaviors. The coin price is developing alternative green and red candles in the daily chart between the horizontal levels of $1.26 and $1.12. Will this lack of initiation from buyers or sellers lead to a prolonged sideways trend in the ARB price?
Amid the broader market recovery, the Arbitrum developed a local bottom at $0.923 level. A potential turnaround from this support has uplifted the altcoin value by 38% to challenge the overhead resistance at $1.275. Additionally, data from the on-chain analytics aggregator DeFiLlama reveals that the Total Value Locked (TVL) in Arbitrum has surged from $2.34 billion at the onset of May to $3.093 billion, marking a substantial growth of approximately 32.2%. This increase in TVL signifies growing confidence and investment in the Arbitrum network, indicating a robust and expanding ecosystem that continues to attract more users and capital. An analysis of the daily chart shows the ARB price developing a bullish reversal pattern called inverted head and shoulder pattern. If the chart setup holds true, the Arbitrum currently trading at $1.18 could breach the overhead resistance of $1.275.This potential breakout will accelerate the buying momentum and set the asset for higher targets at $1.6, followed by $1.74.