Arbitrum (ARB) has shown over a 20% increase in the past week, supported by positive technical signals and increased trading activity.
Confirmation of Bullish Pattern
Arbitrum (ARB) has confirmed a bullish breakout from a classic double bottom. This pattern is often seen as a reversal signal. The breakout occurred at $0.52, which is now acting as support after a successful retest. The projected target from the breakout is $0.7747.
Channel Structure Supports Trend
ARB is also trading within a rising channel, and if levels above the mid-range and EMA support are maintained, another test of $0.60 could be aimed for. A breakout from the upper boundary would open the path toward $0.65 or higher. However, if support is lost, a move toward the lower channel boundary near $0.42 remains possible.
Price Levels to Watch
Traders are watching for moves toward $0.60, $0.65, and eventually $0.7747 if bullish momentum continues. On the downside, $0.485 and $0.42 remain key levels to monitor. Volume spikes suggest active participation, which may continue to drive volatility.
Arbitrum displays significant signs of bullish activity, but traders should remain cautious of potential reversal signals.
