Arbitrum breakout — buy on weakness; $0.58 is the key test
I see Arbitrum trading at $0.53 after breaking a six‑month consolidation, which is a meaningful structural bullish sign.
Momentum indicators remain positive despite a 4.43% intraday dip tied to an upcoming token unlock, so the pullback looks like short‑term noise rather than a trend reversal.
I expect bulls to test the $0.58 resistance next; I prefer buying on weakness or waiting for a clean retest above $0.58 before increasing position size.
Analysis
Recommendation
Prefer a buy‑on‑weakness approach: accumulate on a retest toward recent support or wait for a decisive close above $0.58; limit size and use stops to manage unlock‑related volatility.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.