Should I trade long and what should my stop loss and take profit be?

$ARB

WHY MY CAT SAY BUY ALL,

Here’s the detailed information for ARB (Arbitrum):

Real-time Market Data:
Arbitrum (ARB) is a layer-2 scaling solution for Ethereum, built on Optimistic Rollups. It aims to improve Ethereum’s scalability and transaction speeds while lowering gas fees, without sacrificing security. By processing transactions off-chain and only posting critical data on-chain, Arbitrum helps reduce network congestion and enhances user experience. ARB is the native governance token of the Arbitrum network, allowing holders to participate in decision-making processes regarding the network’s upgrades and governance. The price of ARB fluctuates based on Ethereum’s network usage, adoption of Arbitrum, and overall sentiment in the crypto market.

News Sources:
Key sources to follow for Arbitrum news include:

Arbitrum Official Blog
CoinDesk
The Block
CoinTelegraph

Technical Analysis Tools:
To analyze Arbitrum's market data:

Moving Averages (SMA/EMA): Help determine the overall trend of ARB, whether bullish or bearish.
RSI (Relative Strength Index): Identifies overbought or oversold conditions, signaling possible price corrections.
MACD (Moving Average Convergence Divergence): Shows momentum and potential reversals in market direction.
Bollinger Bands: Analyze price volatility and potential breakout points.
Volume Indicators: Help assess the strength behind price movements and trends.

Market Sentiment:
Arbitrum’s market sentiment is shaped by:

Ethereum Ecosystem Growth: Since it is closely tied to Ethereum, any developments in Ethereum’s DeFi, NFT, or layer-2 adoption have a direct impact on Arbitrum’s sentiment.
Ethereum Upgrades: Major Ethereum network upgrades (e.g., the transition to Ethereum 2.0) can influence Arbitrum’s adoption and usage.
Competition from Other Layer-2 Solutions: Arbitrum faces competition from other Ethereum scaling solutions like Optimism and zk-rollups, which can impact investor sentiment.