[ccpw id="5"]

HomeInvestmentsArbitrum Price Analysis & Prediction (June 5th) – ARB Remains Above $1...

Arbitrum Price Analysis & Prediction (June 5th) – ARB Remains Above $1 as Volatility Shrinks, Will it Hold?


Arbitrum has shown a sign of strength in the last 24 hours, but the price still looks bearish from a short-term perspective. Though, it is currently consolidating above a key support level.

Since the price dropped to a key psychological level of $1 in May, ARB took a breath and subjected price actions to a sideway trend. The drop in volatility affected the sellers so much that they fail to resume pressure. The buyers also fail to push above the $1.28 resistance level.

Despite that, it has managed to hold the mentioned psychological level as support for close to a month now. Last week saw the price through a small gain before it later retraced back. 

Yesterday, the price picked up again at $1.14 following a daily 2% gain. The buyers reiterated actions today but they failed to sustain momentum above the mentioned resistance level. 

While the $1 and $1.281 price levels continue to serve as a tight trading zone for the past weeks, a successful break from the zone would dictate the next direction of the market. 

Regardless of the current setup, ARB remains in a bearish zone on the daily chart. Selling might resume any time soon if the buyers fail to show a strong commitment to price.

ARB’s Key Level To Watch

Source: Tradingview

Considering a price break from the tight trading zone, the potential support and resistance levels to keep in mind are as follows: 

For a breakdown, the immediate support level to consider below $1.14 is $1.06. The major support to watch is $1 before slipping to $0.9. 

If a breakup occurs above $1.281, the key buying target would be the $1.37 resistance level. After that, the $1.425 and $1.5 levels are the next resistance to keep in mind.

Key Resistance Levels: $1.281, $1.37, $1.425

Key Support Levels: $1.14, $1.06, $1

  • Spot Price: $1.21
  • Trend: Neutral-Bearish
  • Volatility: Moderate

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.


Web3 Neobank Platform, Zeebu Unveils Major Token Burn Through Phoenix Protocol

Zeebu, the Web3 Neobank platform, has recently announced a strategic move to introduce the ZBU Phoenix Protocol. This initiative, aimed at optimizing token supply, underscores...

una Messenger: The Omnichain Communication Platform For a Truly Unbound Universal Blockchain Ecosystem

New, evolved iteration of “PAPYRUS” token-gated messenger creates and links vast communities connected through tokens within the blockchain ecosystem Upcoming “una Swap'' feature facilitates asset swaps...

DA GAMES SRL’s “Legends of Elysium” Brings Unique Mix of Trading Card, Board and Strategy Game Elements to WEMIX PLAY

Combines strategic depth of trading card games with the interactive dynamics of board games for a unique, multifaceted gaming experience Players need to build customized decks...

WEMIX3.0 welcomes Sygnum as Node Council Partner “WONDER 18”

Sygnum will contribute its digital asset expertise and operational experience as a regulated bank to further enhance the reliability of the WEMIX3.0 Mainnet The banking group...

Follow us


Most Popular