Arbitrum $ARB core strategy sharing, $1 is an important life and death line🔥🔥🔥
Many people question whether Arbitrum will turn to a bullish trend, and identifying key reversal points is crucial to predicting this shift.
On the daily chart, Arbitrum's price is trading at the lower boundary of the Ichimoku cloud, indicating bearish sentiment. The 100-day EMA resistance level is $1.23, close to the upper boundary of the daily Ichimoku cloud.
A breakout of the cloud may encounter resistance at the 100-day EMA, and if the price exceeds this level, it may reach $1.36, which is consistent with the 0.5 Fibonacci retracement level. The key Fibonacci retracement levels are 0.5 ($1.36), 0.618 ($1.18), and 0.786 ($0.98).
The price fluctuates between these levels, indicating a consolidation phase.
On the 4-hour chart, the Ichimoku cloud is above the price, reinforcing the bearish trend. The 100-period EMA is located at $1.12, acting as a short-term resistance.
The price is struggling to break above the red baseline of the 4-hour Ichimoku Cloud. If the price breaks above the 100-period EMA, it may enter the Cloud and have the potential for an upside breakout.
Arbitrum's daily trading volume has been steadily increasing since mid-March, peaking in mid-May with more than 3.5 million daily transactions.
Despite a slight decline after the peak, the volume remains high, remaining above 1 million transactions per day. Arbitrum's cumulative number of unique addresses has continued to grow since April 2023, exceeding 30 million by June 2024, with a growing user base and network adoption.
Set alerts to take timely action. Be prepared for downside risk: Given the overall bearish trend, consider setting a stop-loss order slightly below the daily Cloud baseline to mitigate potential losses from further declines.
Pay attention to the support level of $0.98: If the price reaches this support level, there may be a buying opportunity, especially if there are signs of consolidation or reversal.
Before entering a long position, look for bullish signals such as a rebound from this level or a positive divergence of the momentum indicator.
Don’t know how to operate, and are still confused?
It doesn’t exist, pay attention to it, the fans are floating, and the layout of ten times and hundred times coins is kept up
It will definitely help you, take a closer look, more strategies 🔍 Public Z account: Web Wanxiang
