Crypto analyst Crypto Patel has predicted that the Ethereum layer-2 Arbitrum could record a 7,400%, providing a bullish outlook for the altcoin. He also revealed key levels for investors to keep an eye out for as the position for this potential rally.
Arbitrum Eyes 7,400% Run With Price Down 96% From ATH
In an X post, Crypto Patel predicted that Arbitrum could rally 7,400, with the price currently down 96% from its all-time high (ATH) of $2.40. He noted that ARB got trapped inside a brutal descending channel after its 2024 top, which led to the 96% crash from its ATH. The analyst added that retail investors have gotten trapped in bull traps in every minor bounce before the next leg down.
Commenting on the current Arbitrum price action, Crypto Patel revealed that the price is sitting above a high-risk, higher-timeframe accumulation zone following the liquidation phase. He added that
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