Arbitrum (ARB) is poised for a potential breakout as its double bottom support holds, while on-chain activity fuels bullish technical signals. This comes alongside strong fundamentals with increasing Real World Asset (RWA) volumes and growing DAO revenues. 📈
The price action exhibits a tight consolidation near $0.3150, highlighting robust support and hinting at an imminent breakout rally.
Key indicators point to a potential reversal:
– Descending triangle pattern nearing resolution with increased buying activity on dips.
– High trading volume around the crucial support level indicates strong buyer interest.
This technical setup aligns with substantial positive momentum driven by significant fundamental growth, including record-breaking ApeChain NFT sales and rising DAO revenue. This confluence strengthens confidence in ARB’s long-term potential.
The article highlights key elements:
– A breakdown above the descending trendline would invalidate the bearish setup and target higher resistance levels.
– Breaking below $0.3150 would confirm the pattern, likely pushing prices lower.
The overall picture is one of a strong double bottom formation, supported by bullish momentum from both technical and fundamental perspectives.