Arbitrum (ARB) price sets a new record low. Which scenario is next?

The price of Arbitrum (ARB) has plummeted, making ARB the first major Token this season to record an All-Time-Low.

While meme coins and Token with small market Capital have seen All-Time-Low (ATLs) before, Arbitrum $2.47 billion market Capital came as quite a surprise.

Also Read: Arbitrum (ARB) price is about to hit a new Dip

Arbitrum investors have not given up yet

Arbitrum 's price may have hit an All-Time-Low, but this is not discouraging investors. Despite the price drop, network participation remains high. As a result, the DAA (Daily Active Address) indicator is currently giving a buy signal. This indicator shows that there is not much room left for ARB prices to fall further, thereby creating an opportunity for potential investors to consider participating in the market. Furthermore, since this Altcoin is at an All-Time-Low , it can only go up.

Second, Arbitrum adoption rate remains impressively high, consistently surpassing 20%. This stability highlights the strong demand and growing interest in the Arbitrum network. A strong adoption rate is crucial for the long-term success and sustainability of any blockchain project. Arbitrum 's performance in this regard is a positive sign for its future prospects despite the price decline.

Furthermore, the consistently high adoption rate shows that Arbitrum has not lost its appeal in the market. Despite the fluctuations in the broader crypto landscape, Arbitrum has maintained its appeal among users. This could help prices rise again.

Also Read: Arbitrum (ARB), Optimism (OP) prices have all approached the final support of price history

ARB price prediction : Go high and fly far

Arbitrum 's price has formed a new all-time low over the past 24 hours, trading at $0.72 USD. This altcoin tested this level twice in June but failed. However, this time, it wasn't so lucky.

However, since this Altcoin may have Dip, it can only go up. ARB receiving investor accumulation may XEM the $1 level as support. This will require significant support from the market or investors.

Without support from the above two factors, it is likely that Arbitrum 's price would fluctuate between 0.73 USD and 0.92 USD. Since this happened in October 2023, it could happen again and invalidate the bullish thesis.

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