Is a Bounce Back in Sight for Arbitrum (ARB)? Technical Signals Indicate Potential Bull Run

Following the recent U.S. Producer Price Index (PPI) data release, the cryptocurrency market is experiencing a dip. Ethereum (ETH) has cooled from above $4,700 to around $4,600, impacting altcoin prices, including Arbitrum (ARB). 5% down for the day, ARB’s weekly gains are now limited to 23%. While short-term sentiment suggests a bearish shift, technical analysis on the daily chart indicates this dip might be a classic bullish retest rather than a reversal trend.