A new analysis came from cryptocurrency analyst Michael van de Poppe, who is closely followed by investors with his analyzes for Bitcoin and altcoins.
Poppe, who made his last analysis for Arbitrum, said that a correction for ARB would be healthier at this stage.
Stating that the previous resistance needs to be retested for ARB to find solid support, Poppe thinks that ARB can rise up to $ 1.35.
However, according to the analyst, if BTC does not fall to $ 33,000 – 35,000, ARB may rise to $ 1.35.
“It's too early for ARB. So the correction for ARB looks relatively healthy.
For Arbitrum to find support, it must take a step back to retest previous resistance.
“If Bitcoin does not fall to $33-35 thousand, I think ARB will continue up to $1.35.”
Arbitrum, which is listed on Binance, dropped to $0.74 with its decline. ARB, which later rose to $1.22, is at $1.01 at the time of writing.
*This is not investment advice.