ARB - Bottom is inHere based on our calculations we can conclude that there is a 93.8% chance that Arbitrum has found its low and these prices will not be revisited until the next bear market.
If you take a look at the Coinbase chart, some institution or entity is heavily defending the $0.74 level.
This level was first established as ARB's low on SEP 11 2023 (this was where most altcoins bottomed before the first phase of this bull market).
Then we saw another liquidity grab at that level on June 18, 2024.
And another perfect bounce on June 24, 2024.
This has formed an incredible TRIPLE BOTTOM pattern that could very well establish the bottom is in.
Bulls are accumulating here, are you?
ARBUSD trade ideas
ARBUSDT 1D: IT'S TIME TO FLYARBUSDT 1D in BUY zone
At this time ARB has already touched the support zone at 0.74. From this level, it skyrocketed at the end of 2023.
If it holds this support and crosses the red downtrend line, we will see ARB fly again :)
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ES HORA DE VOLAR
ARBUSDT 1D en zona de COMPRA
En estos momentos ARB ya ha tocado la zona de soporte en 0,74. Desde este nivel, subiรณ como la espuma a finales de 2023.
Si mantiene este soportey cruza la lรญnea roja de tendencia bajista, veremos como ARB vuelve a volar :)
Arbitrum Analysis | Consolidation with a Bearish BiasCurrent Chart Analysis: The daily chart of ARB continues to show a steady downtrend within a broad range. This pattern reflects sustained selling pressure and dominant bearish sentiment in the market. The price is approaching a significant support level around $0.76 - $0.74, historically serving as a crucial zone for price stabilization.
Support and Resistance Levels: The current price is near a support level around $0.91. The critical resistance level to monitor is $1.29, which has been a strong barrier, often leading to price struggles and reversals upon testing.
Volume Analysis: Trading volumes typically increase during price declines, highlighting intensified selling pressure. During consolidation phases, volumes remain elevated while candlesticks exhibit low volatility. This pattern suggests market uncertainty and a lack of clear directional momentum, potentially signaling position accumulation by traders preparing for the next significant breakout or breakdown.
Possible Scenarios:
๐ฉ Bullish Scenario: A breakout above the local resistance level at $1.10, accompanied by increased trading volumes, could signal a potential bullish reversal, driving the price up to $1.29. To confirm the shift in market sentiment, this breakout should be supported by high volumes and price consolidation above the $1.29 level on the daily timeframe. This could lead to a subsequent phase of price consolidation, allowing for further testing of key resistance levels on the path to continued growth.
๐ฅ Bearish Scenario: If the price fails to hold above the $0.91 support level, it could lead to further declines. Consolidation below this support level would likely continue the downtrend towards the next support zone around $0.76 - $0.74. Traders should be prepared for potential short positions or implementing protective measures if this scenario unfolds.
Overall Market Sentiment:
Current Bias: ARB is displaying bearish sentiment, with potential for extended range-bound trading between the support at $0.91 and the resistance levels at $1.10 and $1.29. The recent token unlock event has added significant supply, contributing to downward pressure, while overall market uncertainty in the crypto space exacerbates this trend. Despite the bullish potential from the Robinhood integration, its impact appears muted in the current environment, unable to counterbalance the prevailing bearish dynamics.
Recommendations for Traders:
โผ๏ธ Monitoring Trading Volumes: Keep a close watch on trading volumes around key support and resistance levels to assess the strength of any breakout or pullback.
โผ๏ธ Preparation for Volatility: Given the recent increase in token supply and market uncertainties, expect heightened volatility. Consider risk management strategies such as setting stop-loss orders, adjusting position sizes, and employing careful entry and exit planning to mitigate risks from sudden market movements.
Disclaimer: Content for seasoned traders only. Not financial advice. You bear sole responsibility for trading outcomes. โ DYOR ๐ง ๐ก
A couple potential breakout targets for Arbitrumโs bullflagOn the weekly timeframe the purple line represents the flagpole, however if I zoom out to the monthly timeframe the neon lemon lime trendline is the full pole of the bullflag. Not sure which one will be the most valid in the long run so I have posted measured move targets for both. *not financial advice*
ARB5 Year
Stoch RSI looks to have bottomed.
Prediction: Since there isn't data on the ALL timeframe it might be hard to make an accurate judgement. However, I think with the Stoch RSI bottoming it might stay within a range and eventually push up. It had a strong counter recovery from the bottom, so after spending some time within a range it will continue up.
ArbUsd Elliott wave countTwo scenarios for Arbitrum.
Black count where we have a finished impulse to the upside and we are going down to complete wave 2 if price clears 1.5427.
Orange count where if price clears 2.0883 may be a tringle ((4)) and we are focusing to the upside to end wave ((5)).
On this count we used log scale!
๐ ARB: Breaking Resistance and Aiming for Upside! ๐๐น๐ Analysis:
Acceptance Above $1.8: ARB seems to be gaining acceptance above $1.8.
Breakout and Close: Look for a breakout and close above $2.2, turning resistance into support.
Entry Range: Consider entering the trade between $1.8 and $2.2.
Take Profit Levels: Aim for profits around $3 or $4.
Stop Loss: Set a stop loss at $1.6.
๐ Note: ARB's movement above key levels and the potential support-to-resistance transition make it an interesting opportunity.
ARBUSD Golden Zone ? Arbitrim has much potential as does Optimism. The Golden dashed line represents Highest volume and the green dot is representing the custom upper indicator. Some nibbles are being had, I presume of whales pricing in on averages. Most would have taken some profits on the high and ready to load .... Golden Zone or not this is a good project now and into the future .
arbitrum increasethis chart shows potential exit zones for selling the arb, I am expecting a long term increase during to increased L2 activity.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. DYOR
Uhxel.
ARB is about to sweep???I think that we could see the pump today!!!
Are you ready to make some cash???
Personally I took over half my money out of my exchange and am playing with smaller stacks.
If the cycle is over we could be seeing some solid pain. I think most of the cryptos have 1 week remaining in this cycle.
BE SAFE!! TAKE SOME PROFIT!!
NOT FINANCIAL ADVICE!!!
Arbitrum ($ARB) Poised for Further CorrectionAfter reaching an all-time high of $2.4, Arbitrum underwent a minor correction. Currently, the asset is trading near the support zone of $2.0โ$2.05, which has been tested twice in the past few days.
The most likely scenario is for the asset to resume its upward movement from this support zone. In this case, the nearest resistance level would be at $2.227, where a significant number of sell orders are concentrated. If buyers manage to surpass this level, the asset could continue its upward trajectory toward the next resistance zone at $2.33โ$2.40, maintaining the potential for setting new all-time highs.
A deeper correction for Arbitrum is only conceivable if a similar scenario unfolds on the BTC chart. Under such circumstances, LSE:ARB could retreat to support levels at $1.97 and $1.85โ$1.90.