Arbitrum’s native token ARB has decisively broken above a significant descending trendline, completing a notable technical reversal and converting the $0.41 price level into support.
The breakthrough signals a positive shift in market structure, with ARB now facing major resistance barriers at $0.50 and $0.67. These thresholds align with key Fibonacci retracement levels from previous market cycles.
Market participants show caution despite the structural shift, evidenced by a 37% decline in 24-hour trading volume to approximately $347.64 million. The drop in activity follows ARB’s pattern breakout and coincides with a 2.68% contraction in market capitalization.
Analysts attribute the pullback to profit-taking behaviors near resistance levels. The $0.39-$0.41 price zone is now under scrutiny as a critical support confirmation area that will determine ARB’s near-term trajectory.
Observers highlight that sustained positioning above this converted support level is essential for validating bullish momentum and enabling upward movement toward the identified resistance markers.