Despite negative trends in the US stock market, cryptocurrency investors are smiling as Bitcoin (BTC) reaches a 21-month high. The excitement around the upcoming ETF launch is palpable, and two cryptocurrencies recently hit their all-time highs. The question remains whether they can sustain this growth.
Arbitrum (ARB), a popular layer-2 solution, has seen its token surge to an all-time high since its recent launch. Following a parabolic support trend line since September 2023, the price has significantly increased. Recently, ARB surpassed its highest value of $1.82, reaching $1.84, and is currently up by approximately 9% at $1.7205.
Analysts, including one known as JJCycles, suggest that if ARB closes above $1.75, the price could climb even higher, potentially reaching $2.4, a roughly 40% increase from its current price. The RSI supports the bullish trend. However, a close below $1.75 could lead to a drop to $1.2.
The ORDI Token has been one of the best-performing altcoins in the past two months, with a 1400% increase in price since November 7. This performance is reminiscent of the exciting days of a bull market. Today, ORDI set a record high at $92.
While the price movement within the rising parallel could pause at $87, an analyst known as NobleCoins predicts that ORDI could reach $100 or even higher, with potential resistance at $116. Conversely, if the peak has been set, the price could fall as rapidly as it rose, potentially down to $56.
Both ARB and ORDI have shown impressive growth, but their future in the volatile crypto market remains uncertain. Investors and analysts are closely watching these tokens to see if they can maintain their upward trajectories or if they will succumb to corrections.