Arbitrum (ARB)

Arbitrum a highly anticipated project, is an Ethereum layer-two scaling solution that uses optimistic roll-ups to achieve its goal of improving speed, scalability, and cost-efficiency. There are not enough candles to see the big picture. But the short-term view is that there is a descending channel, and if ARB breaks it upward, an impulse wave can be expected. Let's see what happens.

Commento:

So, as it turned out, the ARB correction pattern was a descending triangle, which ARB broke upward.

Commento:

ARB is slowly going up.

Commento:

So, ARB went up pretty well and broke the ATH too. Then correction started and ARB came down, probably to gain momentum. Also, it seems a harmonic pattern is formed too. Recently, ARB broke the downtrend line, which is also the harmonic pattern's right wing; the next upward wave's target is the horizontal resistance area. Let's see what happens.