Why ARB and OP’s Correction May Not Last Long: Analyst

• An analyst said OP and ARB may price higher in the short term.
• If buying pressure increases, ARB may close above $1.72.
• OP’s recovery could be a sign that the token may breach the $3.44 resistance.

In two separate posts on X, dated January 7, the influencer Crypto Tony urged his followers participants not to miss out on Optimism’s (OP) and Arbitrum’s (ARB) next rallies.

For ARB, the trader shared a weekly chart showing a bullish structure for the cryptocurrency. However, Tony opined that the price has to close above $1.86 to confirm a sustained uptrend. 

However, ARB’s performance in the last 24 hours may be a stumbling block to Tony’s prediction. According to CoinMarketCap, ARB’s price at press time was $1.64, indicating a 9.15% value decrease within the said period. 

ARB Eyes $1.72 for a Start

ARB’s sharp correction happened on January 7 as the price plunged from $1.86. However, it seems that bulls are trying to halt the correction, defending ARB at $1.65.

Indications from the RSI showed a weakening upward momentum since the reading was 40.29. But signs from the RSI revealed that ARB might rebound. However, this migh…

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