Arbitrum ($ARB) Poised for Further Correction

16 gen

After reaching an all-time high of $2.4, Arbitrum underwent a minor correction. Currently, the asset is trading near the support zone of $2.0–$2.05, which has been tested twice in the past few days.

The most likely scenario is for the asset to resume its upward movement from this support zone. In this case, the nearest resistance level would be at $2.227, where a significant number of sell orders are concentrated. If buyers manage to surpass this level, the asset could continue its upward trajectory toward the next resistance zone at $2.33–$2.40, maintaining the potential for setting new all-time highs.

A deeper correction for Arbitrum is only conceivable if a similar scenario unfolds on the BTC chart. Under such circumstances, ARB could retreat to support levels at $1.97 and $1.85–$1.90.