Arbitrum (ARB) grew by 60% in January and targeted $3

The Arbitrum project token, a second-level (L2) blockchain, has recently achieved a new all-time high after breaking through its previous record. Since September 2023, the token has been following a parabolic ascending support line, which has been tested multiple times. After successfully breaking through the previous all-time high of $1.70 at the beginning of 2024, the price has risen by 60%, reaching a new high of $2.42. Cryptocurrency analysts and traders are optimistic about the future prospects of ARB. Javon Marks predicts that the price could rise to at least $2.60, while Jolly Green believes that ARB will be a leader in the Ethereum ecosystem. However, there are indications that a potential local top is forming, with the daily RSI showing a bearish divergence. If the third wave continues to expand, the price could reach $3.28, but a bearish breakout could lead to a fall to immediate support at $1.70. It is important to note that all information provided is for informational purposes only, and readers should exercise their own judgment and responsibility when making investment decisions.