Crypto price prediction: Arbitrum, Solana, Axie Infinity

• Arbitrum (ARB) worth reveals indicators of additional good points as analyst suggests subsequent hurdle is at $2.
• In the meantime, Solana and Axie Infinity are poised at key assist ranges after latest spikes.

Away from Bitcoin and Ethereum, three cryptocurrencies trending as we speak are Arbitrum (ARB), Solana (SOL) and Axie Infinity (AXS). Right here’s how the altcoins are poised because the broader crypto market eyes a optimistic begin to 2024.

Arbitrum (ARB) worth outlook

The value of Arbitrum, a rollup chain for scaling Ethereum, has surged greater than 11% prior to now 24 hours. ARB stands out as one of many prime performing cash prior to now week with 35% upside, with this coming as Arbitrum bounced from a short community outage. It at present trades close to $1.54, having examined the $1.66 excessive on Thursday. In line with information from CoinGecko, Arbitrum’s present worth degree sees it simply 8% off its all-time excessive.

With sentiment optimistic, ARB/USD may goal the $2 mark to strengthen the anticipated bullish transfer in 2024.

In line with crypto analyst Michaël van de Poppe, ARB ought to could depend on strong assist within the $1.40 to $1.45 vary.

I’ve posted some updates on $ARB.

Retest at $0.98 did work, continuation in the direction of $1.35 as nicely and even additional.

Some stunning S/R flips, I believe $1.40-1.45 ought to maintain and we will proceed to $2. pic.twitter.com/wIFEg26zq8

— Michaël van de Poppe (@CryptoMichNL) December 28, 2023

Solana worth dangers dip to or under $100

Solana has dumped greater than 8% prior to now 24 hours to see it commerce in the direction of the essential degree of $100. At the moment, SOL worth is at $102, with weekly good points minimize to simply 17%. Buying and selling quantity is down 12% as of writing, whereas ecosystem tokens akin to Bonk are additionally dumping arduous.

Whereas SOL may nonetheless rebound to latest highs amid the crypto bull market, there’s potential for a bearish flip under the highlighted psychological degree. Nevertheless, the market stays largely bullish on the altcoin. Crypto dealer @ShardiB2 factors to the overbought outlook for SOL however notes the declines present a purchase the dip alternative.

$SOL

Nicely, acquired severely overbought, had a each day reversal candle verify and now cooling off

I am in all spot, let it come down, not like it’ll keep there IMO and we will all scoop up extra and do it once more

nonetheless inexperienced dots, inexperienced line pic.twitter.com/Jqgx2WdbLe

— Shardi B Buying and selling #teamshardi (@ShardiB2) December 28, 2023

Axie Infinity seeks bullish flip

Axie Infinity (AXS) has not had a terrific yr, with its token lagging prime altcoin performers over the previous twelve months. Nevertheless, AXS has pumped greater than 170% since mid-October, together with a big 40% spike prior to now 30 days. 

Information associated to the Axie Infinity gaming ecosystem, particularly the lengthy awaited Axie Part Evolution. It’s an ecosystem bump that would see Axies’ worth rise with a broader influence for the AXS worth.

Whereas the token at present trades close to $9.13, down 4.6% prior to now 24 hours, the upside trajectory may maintain if it stays above $9.00. Revenue taking prior to now two days has injected draw back strain. AXS traded at highs of $11 earlier.