Technically, there is a possibility that the trend will reverse in Arbitrum, which is lagging behind compared to other Ethereum Layer 2s and whose ecosystem has not developed much.

Currently, it has touched the upper band of the falling wedge formation it is in. If it can break this trend, the market structure will also be bullish in the minor trend. There is also a double bottom formation within the wedge.

Possible targets for $ARB if double bottom formation and upward break of the wedge occur;

TP1: $0.95

TP2: $1.15

Since I will be taking positions in line with technical formations, it would be good to wait for at least the wedge break and re-test in order to reduce the risk.

If I take such a position, I will follow it with a stop below $0.73.