Arbitrum (ARB) Breaks Downtrend, Retests $0.41 Support Amid Volume Decline and Price Pullback
2025-07-16 02:55:27
Main Idea
Arbitrum (ARB) has broken a descending trendline, retesting the $0.41 support level amid declining trading volume, with potential resistance levels at $0.50 and $0.67.
Key Points
1. Arbitrum (ARB) broke above a key descending trendline, shifting market structure and flipping $0.41 to support.
2. The next significant resistance levels are $0.50 and $0.67, aligned with Fibonacci retracement points.
3. A 37% decline in 24-hour trading volume to approximately $347.64 million signals cautious market sentiment post-breakout.
4. ARB's market capitalization saw a 2.68% pullback, possibly due to profit-taking near resistance levels.
5. The $0.39–$0.41 zone is critical for confirming support and determining ARB's near-term trajectory.
Description
Arbitrum (ARB) breaks a multi-month downtrend, retesting the $0.41 support level after reaching a short-term high of $0.43, signaling a pivotal shift in market dynamics. Despite a 2.67% price decline
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