Arbitrum Breakout Faces $0.58 Test — Buy on Weakness
I see Arbitrum trading at $0.53 after a break of a six-month consolidation, which suggests buyers are trying to reclaim control.
Technical indicators lean bullish, but a 4.43% drop ahead of a token unlock highlights short-term supply pressure and volatility around resistance near $0.58.
I’m watching for a clean retest or a controlled pullback to add exposure rather than chasing the breakout; a decisive move above $0.58 would confirm further upside.
Analysis
Recommendation
Prefer buying on weakness or on a confirmed close above $0.58 with volume. Use tight risk management around the unlock period and size positions to account for elevated 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.