- ARB and OP may be ready for an upward run, an analyst opined.
- ARB was overbought but an entry around $1.10 could be perfect before another increase.
- OP may eye $4 as upward momentum continues to rise.
According to Altcoin Sherpa, an analyst on X, the duo of Arbitrum (ARB) and Optimism (OP) are in pole position to experience exponential growth. Sherpa, in his post, opined that there could be a rotation of profit from other coins into Ethereum (ETH) and tokens linked to the blockchain which includes OP and ARB.
As a result, he told his 202,100 followers to look for entries for ARB and OP around $1.38 and $3.30 respectively.
You dont want to fade this price action.Time to do the old rotation to $ETH. Want to buy $ARB or $OP on a dip.
OP entry: $3.30
ARB: $1.38 pic.twitter.com/E1rPHrnW1p
— Altcoin Sherpa (@AltcoinSherpa) December 22, 2023
For a while, both tokens failed to make big moves. During that time, some market players opined that the inability to grow was because of ETH’s restriction to trading between $1,800 and $2,100.
However, the last 24 hours have been incredible for OP and ARB. Acco…
The post Arbitrum (ARB) and Optimism (OP) Are Ready to Run: Analyst appeared first on Coin Edition.