According to crypto trader teshkid, Arbitrum (ARB) broke down after its massive rally up to $2.38 but is currently holding support at $2.09. The $2.09 level marks an important pivot point for ARB’s next directional move.
What you'll learn 👉
Key Support/Resistance Levels
- Resistance – $2.38: Stands as the recent higher high, a break above flips to support
- Support – $2.09: Holding for now but break below brings $1.82 target into play
- Secondary Support – $1.82: Critical downside level if $2.09 fails
With ARB currently consolidating following its parabolic surge up almost 100% over the past month, traders will closely watch price action at the defined support areas.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Potential Reversal Setup
If ARB can reclaim $2.18 and flip the former breakout point to new support, it would signal a bullish trend resumption targeting a retest of $2.38 resistance.
The construct remains a buy-the-dip scenario within a longer-term uptrend as long as $2.09 and especially $1.82 hold. Losing those could signal a more prolonged correction.
With strong developer activity on Arbitrum based on TVL and usage metrics, the protocol stands well-positioned to continue gaining market share as a premier Ethereum layer 2 scaling solution.
You may also be interested in:
- Here Are Updated Ethereum ETFs Deadlines
- Why Is Celestia’s TIA Up Today? Technicals Suggest a Retracement to These Levels Is Imminent
- Cardano (ADA) Going Down, VC Spectra Surges Ahead, Drawing Closer to the $0.025 Target with a Surge in Trading Volume
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
