Arbitrum Price Prediction 2024: ARB Price Analysis

Key Takeaways

• The Arbitrum (ARB) layer-2 scaling solution is designed to make working with Ethereum easier.
• ARB dropped 35% after a token unlock doubled the circulating supply in March 2024.
• Our price predictions suggest that ARB is due for a considerable bounce soon.

One of the most highly-anticipated crypto projects of recent years was Arbitrum. This platform is designed to make working with Ethereum (ETH) quicker and cheaper and its native token, ARB, launched to some fanfare in 2023. 

Since then, things may not have gone as smoothly as some hoped for ARB. 

In June 2023, the confirmation  that The Graph, an information protocol, was starting its transition to Arbitrum gave it something of a second wind. The price reached a new all-time high of $.42 in January 2024.

In March, Arbitrum unlocked $2.2 billion worth of ARB, causing a drop of around 35%. The decline continued until a new all-time low of $0.43 on Aug. 5.

On Aug. 13, 2024, ARB exchanged hands for $0.58.

Let’s examine our price predictions for Arbitrum, made on Aug. 13, 2024. We will also examine the ARB price history and discuss what Arbitrum is and does.

Arbitrum Price Prediction 

Here are the Arbitrum price predictions from CCN on Aug. 13, 2024. Price forecasts, especially for something as potentially volatile as crypto, should be taken cautiously. Our ARB crypto price predictions will use the wave count method to predict its future movement.

We will add and remove 20% from the target price to provide a range of possible outcomes, resulting in minimum and maximum ARB price predictions.

The most likely wave count suggests a five-wave ARB decline since the all-time low at the beginning of the year. The sub-wave count is in black, forming a descending wedge, part of an ending diagonal pattern. The price of ARB may create another final lower low before reversing.

Following this, ARB will likely begin an A-B-C corrective structure. If this structure has the same length as the prior downward movement and reaches the 0.618 Fibonacci retracement resistance level, the price of Arbitrum will reach a high of $1.60 in April 2025.

Then, we can project a decline similar to that after the all-time high in January.

Throughout these upward and downward movements, we project an ARB price of $0.85 and $0.35 for the end of 2024 and 2025, respectively.

Finally, we use the daily rate of decrease for the past year to make an Arbitrum price prediction for the end of 2030. Since August 2023, ARB has fallen by 43%. Projecting this decline until the end of 2030 gives an Arbitrum price prediction of $0.15.

Arbitrum Price Prediction for 2024

Our wave count price prediction gives an Arbitrum target between $0.68 and $1.02 for the end of 2024. The high is implied to be reached in the middle of an upward movement.

Arbitrum Price Prediction for 2025

Our wave count price prediction gives an Arbitrum target between $0.28 and $0.42 for the end of 2025. The high is implied to be reached near the end of a long-term correction.

Arbitrum Price Prediction for 2030

Using the daily rate of decrease for the past year leads to an ARB price prediction of $0.15 for the end of 2030.

ARB Price Analysis

The daily Arbitrum price chart shows a decline inside a descending wedge pattern since June. The wave count predicts another slightly lower low inside the wedge before the ARB price eventually breaks out.

The daily RSI and MACD show signs of an emerging bullish trend reversal. Both have generated bullish divergences (green), so an upward movement may follow shortly.

If a breakout happens, the first intermediate resistance will be at $0.80.

Short-Term ARB Price Prediction

The Arbitrum price prediction for the next 24 hours hinges on the possibility of another downward movement toward the wedge’s support trend line. If this is the case, the ARB price will be trading slightly higher tomorrow, potentially reaching the wedge’s resistance trend line at $0.60.

Then, the ARB price could gradually fall toward the support trend line at $0.35, possibly reaching it by the end of the month.

Arbitrum Average True Range (ATR): ARB Volatility:

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.

On Aug. 13, 2024, the weekly ATR for ARB was 0.21, a sign of low volatility. The ATR has fallen since April and is close to an all-time low.

ARB Relative Strength Index (RSI): Is ARB Oversold or Undersold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.

On Aug. 9, 2024, Arbitrum’s weekly RSI was 33, a sign of a bearish trend. The RSI fell below 50 in March. It is worth mentioning that the RSI has generated a small bullish divergence (green), a sign of a potential bullish reversal.

Best Days and Months to Buy ARB

We examined the ARB price history and found the lowest prices on certain days, months, quarters, and even weeks in the year, indicating the best times to buy ARB.

Time to Buy ARB	Best Days, Weeks, Months and Quarters
Best Day	Friday
Best Week	2
Best Month	December
Best Quarter	Q4

Arbitrum Price Performance Comparison

	Current Price	One Year Ago	Price Change
Arbitrum	$0.57	$1.13	-50.3%
Polygon	$0.42	$0.67	-38.1%
Optimism	$1.35	$1.53	-12.8%
Aptos	$6.29	$7.07	-12.3%

ARB Price History

Let’s now examine the Arbitrum price history. While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us useful context when making or interpreting an Arbitrum (ARB) price prediction.

2023:ARB entered the market on March 23, 2023, at $1.32. After briefly reaching a high of $1.73 in mid-April, the price fell below $1.10 by early May. The SEC lawsuits in June further pushed ARB down to $0.91. A brief recovery in July saw ARB hit $1.34, but by Sept. 11, it had dropped to a low of $0.75.

2024:ARB started 2024 strong, peaking at $2.39 on Jan. 13. However, a slump in March brought it down to $1.65. After a weak performance in April and May, ARB reached a new all-time low of $0.42 on Aug. 5 and was trading at $0.57 on August 13.

ARB Market Cap

The market capitalization, or market cap, is the sum of the total number of ARB in circulation multiplied by its price. On Aug. 13, 2024, the ARB market cap was $1.92 billion, making it the 43rd largest crypto by that metric.

Who Owns the Most Arbitrum (ARB) Tokens?

On Aug. 13, 2024, one wallet owned 5.24% of Arbitrum’s supply.

Richest ARB Wallet Addresses

As of Aug. 13, 2024, the five wallets with the most ARB tokens  were:

• 0x6cc5f688a315f3dc28a7781717a9a798a59fda7b. This wallet held 3,110,097 ARB, or 5.24% of the supply.
• 0xf7a5159085722718dc1276de5979df468975ec11. This wallet held 1,956,359 ARB, or 3.30% of the supply.
• 0x3c02290922a3618a4646e3bbca65853ea45fe7c6. This wallet held 1,351,359 ARB, or 2.28% of the supply.
• 0xce27283c276f4aa7a7e302b24bfea7668e264877. This wallet held 1,343,426 ARB, or 2.26% of the supply.
• 0x59354356ec5d56306791873f567d61ebf11dfbd5. This wallet held 1,331,627 ARB, or 2.24% of the supply.

Arbitrum Supply and Distribution

From the Arbitrum Whitepaper

In its technical documentation, or whitepaper , Arbitrum says it aims to make Ethereum work better for developers.

It says: “Arbitrum is a protocol that makes Ethereum transactions faster and cheaper. Developers use Arbitrum to build user-friendly decentralized apps (dApps) that can take advantage of the scalability benefits of the Arbitrum Rollup and AnyTrust protocols.”

Arbitrum (ARB) Explained

Although Ethereum is one of crypto’s biggest success stories, it has not been without its problems. One of the major issues which has caused people problems is how slow the system has been.

The September 2022 transition to a Proof-of-Stake consensus mechanism was designed to deal with that. However, there are still concerns about the system still being slower than other networks.

As a result, the market for layer 2 scaling solutions, programs that take a transaction off a blockchain, carry it out, and put it back, has not gone away.

Arbitrum , which launched last year, is just one of the many layer 2 scaling solutions out there. Its native token is ARB, which launched in March 2023.

New York-based software development company Offchain Labs created Arbitrum. Offchain is the brainchild of computer experts Steven Goldfelder, Ed Felten – former President Barack Obama’s deputy CTO – and Harry Kalodner. 

How Arbitrum Works

Arbitrum uses something called optimistic rollups to take things off Ethereum and carry them out on the network. These programs work with smart contracts, computer programs that automatically execute when certain conditions are met, to help validate transactions.

The idea is that doing so helps the platform work quicker which, in turn, saves its users money. They assume that every transaction is valid and only verify them if a fraud-proof is submitted.

People who hold ARB are able to vote on proposals regarding the future of the Arbitrum network. Meanwhile, the crypto can be bought, sold, and traded on exchanges. 

Because ARB is based on Ethereum, it is a token, rather than a coin. You might see references to such things as an Arbitrum coin price prediction, but these are, very often, wrong. 

Is Arbitrum a Good Investment?

It is perhaps a little too soon to tell. Arbitrum has dropped last year only, but it is always possible that things could recover. A lot will depend on any updates to the system’s mainnet proposals.

The new about integrating a famous NFT character of a Square Enix’s videogame may be a boost for the coin.

As always with crypto, you will have to do your own research before deciding whether or not to invest in ARB.

Will Arbitrum go up or down?

No one can really tell right now. While the forecasts are, on the whole, positive, remember that crypto price predictions have a well-earned reputation for being wrong. You should also understand that prices can, and do, go down as well as up. 

Should I invest in Arbitrum?

Before you decide whether or not to invest in Arbitrum, you will have to do your own research, not only on ARB but on other, similar, tokens, such as Polygon (MATIC). Ultimately, though, this is a decision you will have to make for yourself. Just remember to never invest more money than you can afford to lose. 

FAQs 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

About the Author

Valdrin Tahiri

Valdrin discovered cryptocurrencies while getting his MSc in Financial Markets from the Barcelona School of Economics in 2017. He has been an avid investor and trader since. Valdrin has written for several cryptocurrency media companies such as BeInCrypto and CoinGape.

See more

[email protected]