I heard of Arbitrum (ARB) but had not paid that much attention to it. What got me to look at ARB more seriously was Mirror. XYZ. Arbitrum is a layer-2 scaling solution for the Ethereum blockchain. It aims to improve the performance of Ethereum smart-contracts by increasing their speed, scalability, and privacy. We all know that using the Ethereum blockchain for payments has been a nightmare in terms of costs to the user. Sometimes, the Ethereum blockchain is unusable due to a lack of scalability to deal with a backlog of payments. ARB is a much cheaper alternative and scales effectively. I think we best stop here; this blog is not about discussing the virtues of ARB.
The ARB chart shows that the current price of $0.90 is close to the all-time low of $0.87. One might say that this is a buying opportunity. It probably is. We can also see a series of lower highs and lower lows, which means there is a possibility that the price may have further to fall. We must pay attention to the price action as the choppiness index has enough energy to affect the fall. In addition, the Laguerre RSI indicates weakness in the price action overall, with no movement to the upside. The discount area on the chart acts as support, as seen over the last few days.
No one knows what will happen; we can only make educated guesses. Since that's all we have, your guess is as good as mine.
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