here’s an analysis of Arbitrum (#ARB ) 🏧
[Let’s start with a few lines about the project itself] — Arbitrum is a relatively new player in the market, designed to solve Ethereum’s scalability problem. By using optimistic rollups, it has managed to significantly increase the speed and efficiency of the network, which, as we know, are Ethereum's main challenges.
🔍 [Moving on to the chart analysis] — almost immediately after its listing, the asset began a prolonged corrective movement that lasted over a year. Just a few days ago, we saw the final drop, during which the key support zone (0.4971-0.5881$) was breached — this event marked the end of the long and exhausting correction within the 2nd wave.
At the moment, I’m feeling very bullish 🐂, as the asset has managed to show a growth of over 37% in just 10 days. The current movement is part of the global 3rd wave, during which I expect to see at least a new global high (2.4150$). Most often, the 3rd wave ends at the 1.618(6.8874$) Fibonacci level — reaching this level will be my ultimate target. ✅
$ARB #DYOR #LowestCPI2021 #BinanceLaunchpoolTON #MarketDownturn