Arbitrum

Millions

Show

Resistance

Reversal

<p>According to crypto trader <a href="https://twitter.com/MtukufuMtukutu/status/1746430259010924868" target="_blank" rel="noopener noreferrer nofollow">teshkid</a>, 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.</p>
<h2 class="wp-block-heading" id="key-support-resistance-levels">Key Support/Resistance Levels</h2>
<ul>
 <li><strong>Resistance – $2.38</strong>: Stands as the recent higher high, a break above flips to support</li>
 <li><strong>Support – $2.09</strong>: Holding for now but break below brings $1.82 target into play</li>
 <li><strong>Secondary Support</strong>&nbsp;– $1.82: Critical downside level if $2.09 fails</li>
</ul>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="503" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-1024x503.png" alt="" class="wp-image-421303" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-1024x503.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-300x147.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-768x377.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-1536x754.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-2048x1006.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-305x150.png 305w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-100x49.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-713x350.png 713w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-437-788x387.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-437.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>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.</p>
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<h2 class="wp-block-heading" id="potential-reversal-setup">Potential Reversal Setup</h2>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>You may also be interested in:</p>
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<p>The post <a href="https://captainaltcoin.com/arbitrum-retests-support-after-rally-analyst-suggests-arb-to-likely-hit-this-price-level/" rel="noopener noreferrer nofollow">Arbitrum Retests Support After Rally; Analyst Suggests ARB To Likely Hit This Price Level</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

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

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