The Arbitrum price jumped more than 30% in the last two days, showing signs of a bullish alt season as crypto king Bitcoin Price is sustaining above its vital resistance level of $30,000.
At the time of writing, the arbitrum price against the USDT pair is trading at $1.55 on Binance. In the intraday trading session, buyers have seen gains of 13.3% so far.
So far, Bitcoin price remained above the $30K resistance while the total crypto market cap increased by 2.14% to $1.28 trillion. Thus, the market capitalization of ARB token according to CoinMarketCap data stands at $1.98 billion. Buyers have yet to accumulate another $15 million to see a $2 billion market cap.
This huge rally in ARB token happened after buyers avoided the resistance trendline and on April 13, this breakout turned into a bullish rally. Meanwhile, massive buying and selling has been completed, leading a 176% increase in volume to $2.06 billion in the last 24-hours.
Recently, Uniswap got the green light from Apple for its wallet. Now the Uniswap wallet is available on the iOS App Store and as Uniswap claims the wallet allows users to swap cryptocurrencies on Arbitrum’s network as well.
On the 4-hour time frame, ARB token price is trading above the 20 and 50 simple moving averages. However, the RSI is showing a slight retracement as it has peaked in the highly oversold zone.
It now remains to be seen whether ARB bulls will reach the $2.0 mark if bitcoin price sustains above $30,000.
- Support levels – $1.5
- Resistance levels – $1.6
