Arbitrum Rises From Its Ashes! Attention ARB Investors!
#Arbitrum (ARB), one of the once popular Layer-2 projects, is showing signs of recovery after a prolonged slump.
When $ARB tested $2.40 in March 2023, many investors believed that this project would be a long-term success story. However, these hopes were eventually replaced by a bitter reality. The price lost almost 90% of its value in a months-long downtrend, dropping to $0.30.
Investors who bought ARB, especially under the guidance of some local crypto influencers, suffered major losses during this process.
The drop from an investment of 100,000 TL to 10,000 TL declared $ARB a “loser coin” for many people.
Looking at the current charts, the $0.32–$0.34 band is now working as a strong bottom zone. While the purchases coming from this zone in recent weeks have been pushing the price up, the downtrend structure has also started to weaken.
Last price: $0.4585
Last 24 hours: 5% decrease
Critical resistance: $0.50
The $0.50 level is an important psychological level. Although it has been tested several times in the past, it has not been clearly overcome. However, what is different this time is the increasing trading volume and the positive atmosphere in the market.
When technical indicators are examined:
Supertrend has been giving a buy signal since the $0.3741 level.
However, the 200-day EMA is still above, exactly at $0.5722.
This situation shows that the price must definitely exceed this level for the rise to be permanent. If daily closings come above 0.5722, the next targets will be:
$0.66
$0.80 levels will come to the table.
Even these levels remain far from ARB's old peaks. However, they still carry signs of recovery in terms of investor psychology.
⚠️ Note: My posts are not investment advice. There may be errors due to translation. Please do your own review. You can also write your thoughts in the comments section.
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