ARB breaks long-term downtrend; the key support level of $0.38 may pave the way to $0.90 and $1.20

$ARB breaks the long-term downtrend, or welcomes a trend reversal!

After forming a double bottom pattern near $0.26, ARB has broken through the months-long descending trend line, and market sentiment is starting to turn positive.

Key support level: $0.38 (holding it may lead to further upward movement)

Short-term resistance level: $0.4787

Potential targets: $0.90 & $1.20

If $0.38 is lost, watch for strong support at $0.26 below.

As $ETH heats up, the L2 sector may become the next focus of funds; ARB has the potential for amplified gains.

Personally, I remain optimistic about ARB not only because of this technical pattern breakout but also due to multiple fundamental reasons supporting it.

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