$ARB : Arbitrum 💰🚨
1. ARB has fully retraced its entire uptrend and returned under $1 for a moment. We are now stabilizing above $1 which should prove to be a good high timeframe retracement.
Price flushed as we broke down from the $1.40 level. This was a pretty quick breakdown.
2. It's formed a small channel as it bounced from $1 this past week. It also has a trendline ahead of it within the range it formed.
3. For a long position, look for ARB to breakout from the trendline thats ahead and cross the recent highs at $1.16.Good targets here are $1.21 and $1.28
4. For a short position, look for ARB to start drifting below $1 again. If this develops, good targets are $0.95 and the wick low around $0.86.
