In recent months, the price of Arbitrum (ARB) has shown sluggish growth despite Ethereum's (ETH) resilience in market trends. However, a new analysis suggests a possible turnaround in the near future.
Current Market Analysis of ARB
Crypto analyst Sjuul from AltCryptoGems noted that ARB's price has been stagnant. He believes that reclaiming previous support could change the current dynamics. He emphasized that with ETH's potential strengthening, tokens like ARB could benefit from increasing interest in Layer-2 projects.
Signals for Possible Reversal
A review of the daily ARB chart reveals the formation of a rounded bottom, indicating a potential reversal setup. The key price level to watch is $0.466. This level previously acted as support before turning into resistance during ARB's decline in early 2025.
Outlook and Resistance Levels
If ARB's price breaks above $0.466 with volume support, the next resistance is around $0.954. The chart shows a sequence of higher lows, indicating growing buyer pressure. The nearest support zone is identified between $0.37 and $0.41, which could help maintain the bullish setup.
Current technical signals for Arbitrum suggest a likelihood of reversal that may be supported by Ethereum's overall strengthening and renewed interest in Layer-2 projects. Investors and traders are closely monitoring market conditions.
