Generally, the crypto market has been experiencing a pullback after Bitcoin and many other coins like Ethereum have recorded a new all-time high of which Arbitrum (ARB) was not left behind. Arbitrum, which has a lot of potential with a market cap of over $3.8 billion and a circulating supply of 2,653,939,384 ARB has been trading below the 100-day Moving Average (MA) for some time now. However, recently the price of ARB has been showing some signs of reversing. As of the time of writing, Arbitrum was trading around $1.45, indicating an increase of 1% in the last 24 hours. There are currently two major resistance levels of $1.799 and $2.278 ahead of the price. Technical Indicators Show Signs Of Upward Movement In Arbitrum Price 4-hour RSI Indicator: Looking at the Relative Strength Index (RSI) indicator from the 4-hour timeframe, we can see that the RSI line is rising above the oversold zone and is heading toward the 50 level. This indicates a rise in the price, and if the RSI line rises above the 50 level, it might trigger the start of a new trend. The image below reveals more: 4-hour MACD: looking at the formation of the MACD indicator from the 4-hour timeframe in the above image, we can also see that both the MACD line and the signal line having trended for a while below the MACD zero line have both crossed and are heading towards the MACD zero line. On the other hand, the MACD histogram is already trending above the MACD zero line. This suggests that a change in direction might soon happen from its downward movement to an upward movement. 1-hour bull power vs bear power histogram indicator: lastly, taking a good look at the chart from the 1-hour time frame with the help of the bull power vs bear power indicator, it shows that the histograms are already trending above the zero level. This suggests that buyers are gradually taking over the market from sellers as seen in the image below. In conclusion, if the price of Arbitrum manages to change its direction from downward to upward direction, it is possible that ARB could retest its previous major resistance levels of $1.799 and $2.278 and even move further to create a new peak. Nonetheless, if Arbitrum fails to move upward, the crypto asset’s price might move further downward to create a new low. Featured image from Shutterstock, chart from Tradingview.com
On-chain activity within Ethereum layer-2 protocols and ETH derivatives data suggests that the altcoin will hold the $3,200 level.
Playnance introduces PlayBlock, a layer 3 ecosystem on Arbitrum Orbit designed for seamless web3 gaming without gas fees.
From March 20, interoperability protocol Celer will allow MOON holders to move coins to Arbitrum One.
Arbitrum unlocked 1.1 billion tokens, worth around $2.32 billion, for its team, advisers and investors on March 16.
The yield farming app was exploited through a possible private key compromise, according to a CertiK report.
The indexing layer is also expanding to Avalanche and Celo.
Transaction fees across various Ethereum layer-2 networks, such as Base, StarkNet, and Optimism, have seen significant reductions following the implementation of the Dencun upgrade. Yesterday, the Dencun upgrade went live after months of anticipation within the crypto community. The upgrade, described as the most “complex fork” since Ethereum transitioned into a proof-of-stake network, introduced a […]
The post Blobs successfully slash layer-2 fees as Ethereum Dencun upgrade aims to increase adoption appeared first on CryptoSlate.
The upgrade allows layer 2 solutions to store data in "blobs" instead of the expensive call data.
While Ethereum's rollup-centric roadmap could help the ecosystem reach new levels of scale, some developers think relying on third parties to improve access to Ethereum could backfire.
Ethereum's Dencun upgrade enabled a new way of storing data that was forecast to dramatically cut costs for interacting with layer-2 networks.
A key element of the upgrade is to enable a new place for storing data on the blockchain – referred to as "proto-danksharding," which gives room for a dedicated space that is separate from regular transactions, and at a lower cost.
Token Unlocks highlighted that Arbitrum will do a “Cliff Unlock,” where tokens are released in a lump sum at the deadline.
Manta’s Kenny Li argues that only blockchains with a “modular” approach stand a chance of survival, but critics say the whole debate is just a marketing stunt.
Users of Robinhood’s self-custody wallet will have access to Arbitrum swaps in the next coming months.
BNB Chain saw an uptick in deposits and activity, but is the fresh momentum sustainable?
The ETH price has turned bullish, and the move is backed by an increase in DApp activity and protocol revenue.
Celo originally planned to build its Ethereum layer-2 network with Optimism's OP Stack. Then Polygon and Matter Labs pitched their stacks. Now, Arbitrum, the biggest layer-2, wants in on the bake-off.