Arbitrum (ARB) is currently trading around $0.53 to $0.55, showing some consolidation over the past week with low volatility. It has encountered resistance at $0.62, and unless there is a strong influx of buyers, it might struggle to break past this level in the short term.
The current trend for $ARB suggests that it could be forming a bullish ascending triangle pattern, which often signals upward movement. However, the technical indicators like the RSI are still leaning bearish, suggesting sellers maintain some control .
In terms of larger market activity, DeFi participation on the Arbitrum network has dropped considerably, which may affect ARBâs growth potential. The number of whale transactions has also declined, further indicating that major market movers are cautious at the moment .
For those looking to buy, a dip near $0.48 could offer a better entry point, especially if ARB continues to show weakness. However, if it manages to break above the $0.62 resistance with volume, it could potentially initiate a more sustained upward move.$ARB
