Arbitrum’s Breakout Failed, but a Key Indicator Says the Rally Isn’t Dead
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- ARB drops below $0.46 after brief breakout fails near $0.49 resistance level.
- Trading volume falls 11.67% as sellers regain control of short-term market trend.
- RSI and MACD remain bullish, signaling possible recovery if support levels hold.
Arbitrum (ARB) attempted a major breakout on Friday but was sharply rejected at a key resistance level, causing the price to fall back into consolidation. However, key momentum indicators remain bullish, suggesting the upward trend that has been building for weeks may not be over yet.
On July 18, ARB surged to an intraday high of $0.49, but the rally quickly faded. As noted by crypto analyst Ali, the price failed to hold above the critical $0.47 level. At press time, ARB was trading at $0.4557, down 2.19% over the past 24 hours.
A breakout attempt rejected at the key $0.47 level
At the time of writing, ARB was trading at $0.4557, reflecting a 2.19% decline over the past 24 hours, according to CoinMarketCap. The token’s attempt to reclaim the $0.4722 resistance zone was rejected,…
The post Arbitrum’s Breakout Failed, but a Key Indicator Says the Rally Isn’t Dead appeared first on Coin Edition.
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