Direction
Long
Published
October 21, 2024
Status
Token
ARB
Trigger
Support/Resistance
Type
Trade Strategy
Updated
About + Tokenomics
Chart Analysis
Token Name | Arbitrum |
Symbol | ARB |
CoinMarketCap Rank | 39 |
Market Cap | 2.4B |
Volume 24h | 320M |
Total Supply | 10B |
Circulating Supply | 3.98B |
ARB entered a bullish upward trend at the beginning of August. Since then, the token has made higher lows constantly, and higher highs most of the time.
Currently, the token approaches the critical resistance at $0.62. A break above this level provides a solid entry for a run.
Technical Indicators
- MACD: Bullish 🟢
- RSI: Neutral 🟢
- VMA: Bullish 🟢
- Triple EMA: Price trades between EMAs
- ADX: 15, indicating no trend 🔴
Chart
Trade Setup
- Entry: Wait for a break above $0.62 and confirmation on the daily chart.
- Profit Target 1: Slightly below $0.75 (~20%).
- Profit Target 2: Slightly below $0.85 (~38%)
- Profit Target 3: Slightly below $1 (~61%)
- Stop Loss: ~$0.6