Arbitrum (ARB) is showing positive signs of upward momentum and holding strong above its crucial support level. Recently, ARB faced a sharp pullback along with the overall market. This dip appears temporary, and ARB has started climbing again.
The market has faced turbulence recently and experienced a sharp pullback, but it is now beginning to rebound. Despite the recovery, ARB is still down 4% in the past 24 hours and is currently trading at $0.5277.
ARB pullback sets stage for $0.60 breakout
Analysis from Alpha Crypto Signal indicates that ARB is trading inside a well-defined ascending channel on the daily chart. The token recently touched the upper boundary near $0.58 before pulling back to the mid-line, now hovering around $0.52.
If ARB can maintain support above the mid-range and the EMA9, it may regain upward momentum and retest the $0.60 level. A clean breakout above this point could open the path toward $0.65+, signaling stronger bullish potential.
Support levels highlight risk and opportunity
On the downside, failure to hold the mid-line could trigger a pullback toward the channel’s lower boundary near $0.42. This level represents a strong potential demand zone for swing traders looking to enter during a dip.
Notably, the recent movement of ARB reflects the broader market trend of short-term pullbacks followed by recoveries.
Traders should monitor key price levels and trading volumes closely to anticipate potential breakouts or further corrections.