- The price displayed a significant move from the high volume level.
- The ARB price is trading at $1.80 with an intraday surge of 1.94%, with an intraday volume in the last 24 hours of 2.204 Billion.
Arbitrum is known as a secondary protocol that enhances speed, reduces cost, and stability of Ethereum transactions. It uses a method called optimistic rollups to do this. ARB coin is the network’s token, which is utilized to pay fees and regulate the network.
ARB coin holders can decide and give opinions on matters that impact the network, such as protocol upgrades, fund allocation, and security council.
Moreover, the Arbitrum’s functioning is majorly controlled by two main groups: the Security Council and the Arbitrum DAO.
The Security Council consists of a 12-member group directly selected by the Arbitrum DAO members. Moreover, this group rotates basically around the task of maintaining the security and performance of the Arbitrum crypto’s ecosystem by bringing emergency actionable measures when needed.
On top of that, the Arbitrum DAO is the worldwide global community of ARB token holders and their elected spokesperson. This DAO is basically in charge of regulating the Arbitrum and its Security Council. Majorly, the DAO can change the Security Council’s powers or can even shake off completely through constitutional proposals.
The ARB token bearers can even join the governance process by voting on the proposals directly or by sharing their voting power to representatives who speak for their interests.
In addition, this decentralized governance system ensures that decisions taken within the Arbitrum ecosystem are equivalent to the community’s best interests, instead of depending only on a centralized group of decision-makers.
Technical Overview on Daily Chart of Arbitrum Crypto
The ARB crypto price displayed a significant move from the high volume level and the momentum was insane from the $1.10 level. The price reached $2 in a mere two weeks but faced a weak high and a massive candle wick was observed in reaction to the weak high.
ARB price is trading at $1.80 market price with an intraday surge of 1.94%, with an intraday volume in the last 24 hours of 2.204 Billion. The MACD also highlights a bullish crossover.
Therefore, if the demand for the remains high, the ARB asset price could bounce back from the current level. The next goal for the price is to reach $2.400.
However, if the ARB crypto price fails to stay above the $1.500 level, it could decline further.
Summary
The MACD technical indicators show bullish crossovers with a broadening width of the histogram. ARB price chart highlights bullish sentiments and perspectives regarding the crypto asset in the daily time frame. $2.4 is the upcoming upper challenge while $1.5 is the closest support level. The Arbitrum price action highlights a bullish view at the time of publishing.
Technical Levels
Support Levels: $1.500
Resistance Levels: $2.400
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.