Arbitrum Price Analysis: Holding Key Support Could Push ARB to $1.24 Soon
Arbitrum's price action teeters on a critical technical line—hold here, and the Layer-2 token eyes a swift run toward $1.24.
Market watchers are glued to the charts as ARB tests a major support zone. A clean bounce from this level often signals trapped bears and a shift in momentum. The setup is textbook: defend the floor, then rally.
The $1.24 Target
That figure isn't plucked from thin air—it's the next significant resistance waiting overhead. Reaching it would mark a decisive victory for the bulls and potentially unlock further gains. Traders are positioning for the move, with stop-losses tucked just below the current support. A break there, however, and the narrative flips bearish in a heartbeat.
In a market where most 'fundamental analysis' is just storytelling after the price has already moved, this technical play offers a rare moment of clarity. Sometimes, the charts cut through the noise better than any roadmap or partnership announcement.
All eyes are on the bids. If they hold, ARB's next stop is clear.
Arbitrum Eyes $1.24 Rally After Holding Key Support
Moreover, the crypto analyst, Jonathan Carter, highlighted that the native token of the Arbitrum network, ARB, is at an important and eagerly awaited level as it tests the lower boundary of its large-scale descending channel. From the 3-day chart, the current level of the price is right on the large-scale structural support area.
Market analysts point out that a confirmed bounce at this level may mark the commencement of a trend changeover. Surviving this level WOULD be an indication of a gradual weakening of selling pressure and renewed buying interest. It mirrors past patterns when ARB shifted from decline to sustained upward momentum.
Source: Jonathan Carter
If the reversal structure triggers, several potential breakout points have been identified by the analysts: $0.25, $0.40, $0.63, $0.92, and $1.24. All of them are crucial resistance points or areas of liquidity that may be tested on the way during the breakout wave for ARB.
Also Read: Arbitrum Under Pressure: Can ARB Lead the Rally to $0.30 in the Next Session?
