Arbitrum ($ARB) recently achieved a major milestone, surpassing $200 billion in trading volume on Uniswap, solidifying its role as a key Layer 2 network in the DeFi space. This highlights the growing importance of Layer 2 solutions in enhancing scalability and transaction efficiency.
Technical Analysis:
• Current Price: $0.5445
• RSI (43.86): Approaching oversold levels, signaling potential for a bullish reversal.
• MACD Histogram (-0.0046): Weakening bearish momentum, suggesting possible upside.
Key Levels:
• Support: $0.5128, $0.4750, $0.4167
• Resistance: $0.6089, $0.6672, $0.7050
This dip could present a good accumulation opportunity ahead of a potential rebound. DYOR
