Overview #ARB
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$ARB is trading around 0.1419 after a strong breakout from the ascending trendline support, which pushed the price towards the 0.1500 area. On the 4-hour candlestick chart, the blue ascending trendline from the March lows has continued to provide reliable support throughout the consolidation phase, with buyers actively stepping in after the trendline held around 0.1150, driving the price to new highs.
As long as the 0.1380–0.1400 area holds during any pullbacks, the bullish structure remains intact with a continuation towards 0.1500 and beyond. A deeper correction to the trendline around 0.1230 is still acceptable within the broader bullish trend.
However, a break below the trendline will change the momentum and jeopardize the key support zone at 0.0883–0.0896.
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$ARB is trading around 0.1419 after a strong breakout from the ascending trendline support, which pushed the price towards the 0.1500 area. On the 4-hour candlestick chart, the blue ascending trendline from the March lows has continued to provide reliable support throughout the consolidation phase, with buyers actively stepping in after the trendline held around 0.1150, driving the price to new highs.
As long as the 0.1380–0.1400 area holds during any pullbacks, the bullish structure remains intact with a continuation towards 0.1500 and beyond. A deeper correction to the trendline around 0.1230 is still acceptable within the broader bullish trend.
However, a break below the trendline will change the momentum and jeopardize the key support zone at 0.0883–0.0896.