ARB Price Jumps: Fireside Chat Hints at Major Collaboration
Over the last 24 hours, the top-performing cryptocurrency within the top 100 has been Arbitrum’s native token, ARB. Its price has increased to $0.38, a remarkable 20% increase over that period.
The speculation that Robinhood and Arbitrum may collaborate to develop a blockchain platform that would allow European investors to trade US stocks is most likely the cause of the upward trend. The fintech startup announced just hours ago that it will have a fireside chat with Vitalik Buterin, the founder of Ethereum, and A.J. Warner, the CSO of Onchain Labs.
ARB Price Outlook: Binance Support and Bullish Charts Fuel Hype
The additional backing from Binance could have also had a favorable effect on ARB’s valuation. The top cryptocurrency exchange in the world has declared that the ARB/USDC trading pair would be included in its Trading Bots section. It is unlikely that this will result in any notable price adjustments, though, as it is more of a speculative move.
On the other hand, the cryptocurrency industry has taken notice of ARB‘s climb, and some analysts believe it could be the beginning of a major positive trend. A possible breakout of a particular trendline, according to one X user, might push the price to $0.50 or higher. According to Crypto TA King, ARB looks fantastic at its present price. Furthermore, he stated that he would buy if the value fell between 0.32 and 0.34 dollars.
Arbitrum Momentum Peaks, But RSI Warns of Risky Territory
The token’s Relative Strength Index (RSI) has risen above 80; therefore, investors should proceed with care despite the general excitement. Since it suggests that the price has risen too quickly in a brief amount of time and may be about to undergo a short-term correction, this is typically seen as bearish terrain. Therefore, you must conduct your own research before taking any action related to this token.
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