Monitor $ARB closely for a potential buying opportunity.
Reasoning:
- Strong support at 1.2 indicates stability in price.
- Anticipate initial price decrease due to the addition of 1.1 billion ARB coins to the previous supply of 1.28 billion.
- Circulation Supply: Previous supply = 1.28 billion coins, New supply = 2.38 billion coins
- Market Cap: $2.40 billion (Market Cap = Circulation Supply * Price per Coin)
Action:
- Set buying target conservatively above support level, around 1.25 or 1.30.
- Continuously monitor market for fluctuations and adjust target accordingly.
