Arbitrum (ARB) Latest Updates and Stacks (STX) Price Trajectory: Key Indicators To Watch

The Arbitrum Foundation announced that its Grants Program is transitioning to Phase 3. According to the Arbitrum’s official X account, this phase will introduce significant changes. Notably, the application form for Phase 2 will close on April 3, 2024.

Phase 3 will commence on April 15, 2024, and continue until the end of June 2024. The focus will remain on decentralized applications (dApps) across various categories, including gaming, non-fungible tokens (NFTs), social platforms, decentralized autonomous organizations (DAOs), and decentralized finance (DeFi).

Arbitrum’s Phase 3 will introduce a more structured approach through “grant tracks.” Projects will be categorized into dedicated tracks based on their stage, growth projection, and type. Consequently, each grant track will have specific goals and allocated funds, increasing transparency and fairness.

Key Dates

  • Phase 2 application deadline: Wednesday, April 3, 2024
  • Phase 3 commences: Monday, April 15, 2024
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Arbitrum (ARB) Daily Price Chart

According to technical analysis on TradingView, Arbitrum (ARB) is exhibiting an uptrend after a dip, as highlighted by the last two candlesticks on its daily price chart. The latest green candlestick indicates a potential continuation of the upward movement.

At the time of analysis, ARB’s price stood at $1.6486, forming a bullish trend. The Relative Strength Index (RSI) at 40.19 trends sideways, suggesting potential consolidation before another potential upward move. Moreover, the 200-day Exponential Moving Average (EMA) below the current price level indicates strong support and bullish momentum.

However, traders should remain cautious as the 100-day EMA at $1.7415 poses a potential area of resistance if the price continues to rise. Overall, Arbitrum’s technical indicators currently point toward a bullish outlook, but key levels should be monitored for potential reversals.

Stacks (STX) Price Analysis

Crypto analyst Daan Crypto Trades (@DaanCrypto) shared insights on the Stacks (STX) price action. According to the analyst, STX is holding above its previous all-time high, but no strong continuation has occurred yet. For a significant upward momentum, STX needs to break through the local highs.

Additionally, Crypto Tony (@CryptoTony__) provided an update on STX, stating that as long as the price holds above $2.85, their position remains intact. The analyst considers STX a high timeframe and long-term play.

While the technical analysis suggests a bullish outlook for Arbitrum and Stacks holding key support levels, traders should exercise caution and monitor for potential reversals or consolidation periods.

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Samuel Munene
Samuel Munene

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