Update on $ARB (Arbitrum):
🔍 Current
Price: ~$0.401 — up ~8% in the last 24 hours
24‑Hour Range: ~$0.37 to $0.416 — showing recent strength
Market Cap: High-$1.9 billion, position #48 globally
📈 What’s Fueling the Surge
Technical Setup: $ARB appears to be forming a bullish Elliott Wave 3, with a solid ascending triangle breakout.
Price Analysis: A +11.8% rally has pushed RSI into the high-50s, signaling possible short-term overbought conditions. Watch $0.36 support and resistance at $0.48–$0.51.
Ecosystem Tailwinds: Growth in DeFi grant programs and DFUSD stablecoin integrations continue to boost investor confidence .
Strategic Entry: With L2 tokens like ARB and OP down ~80% from highs, many see current levels as strategic accumulation zones .
🎯 Key Zones to Watch
Level Importance
Support ~$0.36–$0.37 Near-term bounce zones; ideal entry point
Resistance ~$0.48–$0.51 A clean break here could lead toward ~$0.60
Wave 3 Upside If momentum persists, this could fuel the next leg up
🧠 Quick Takeaway
ARB is showing momentum-driven strength backed by technical, fundamental, and ecosystem catalysts.
Near-term: Potential for slight pullback on overbought signals — ideal buy opportunity near $0.36
Mid-term: A breakout past $0.48–$0.51 could kick off a new upward wave toward $0.60+
🔑 Tip: Set alerts around $0.36 for entries and watch volume near $0.48–$0.51 for breakout confirmation.
