ARB Breaks Long-Term Downtrend, Targets $0.90 & $1.20
ARB has broken a multi-month downtrend after forming a double-bottom pattern near $0.26. The ARB breakout above the long-term descending trendline was confirmed by a surge in trading volume, with $54.06 million recorded during the move. Immediate support is now established at $0.38, a level ARB has respected for several weeks. Maintaining this support could trigger a bullish continuation toward the next resistance at $0.4787 and price targets of $0.90 and $1.20.
On the 2-week chart, ARB traded in a tight range between $0.26 and $0.38 for nearly six months before decisively moving above diagonal resistance. A close below $0.38 would risk a retest of the $0.26 demand zone. Broader market momentum in Ethereum is also picking up, which often benefits Layer 2 tokens like ARB.
Traders should monitor ARB price action above $0.38 and watch for volume spikes on any upticks. Key SEO terms: ARB breakout, trend reversal, support levels, double-bottom pattern, trading volume. If ARB holds key support, short-term upside toward $0.90 and $1.20 becomes more likely; failure would expose downside risk back to $0.26.
Bullish
The ARB breakout from a long-term downtrend and the formation of a double-bottom pattern near $0.26 signal a shift in market sentiment toward bullish. A similar pattern was observed in late 2024 when Layer 2 tokens rallied after breaking key resistance with volume confirmation. The $0.38 support now acts as a pivot: holding it could fuel a short-term rally to $0.90 and $1.20, while a breach would reintroduce downside risks.
In the short term, traders are likely to chase breakouts with volume surges, driving ARB higher. Long term, sustained strength above $0.38 and continued Ethereum momentum could establish a new uptrend channel for ARB. Conversely, failure to hold support could trigger stop-loss orders and rapid sell-offs back toward $0.26, as seen in previous consolidations.