Arbitrum Retests Support After Rally; Analyst Suggests ARB To Likely Hit This Price Level

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.

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.

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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.

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Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.