$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. For a long position, look for ARB to reclaim the yearly open at $1.5613 with some good momentum. Good targets here are $1.63 and $1.72.
3. For a short position, look for price to return below $1. If this develops, good targets are $0.95 and the wick low around $0.86.
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