Arbitrum Price Tests Support Level: Chance of Rally Towards Resistance

The Arbitrum price shows an interesting technical development. After a significant downside breakout, ARB has managed to reclaim an important support level and the price is now in a retest phase. If the coin can hold this level, a move towards the next resistance is quite possible.

Arbitrum is available at OKX and Bybit.

Cup pattern on the ARB chart

On the 12-hour chart of ARB/USDT, a so-called cup pattern is visible. The price previously dropped deeply towards around $65, but has been recovering steadily since then. Around the current level of approximately $89, there is a clear support level that previously served as a bottom and is now being retested.

Analyst @AltCryptoGems points to the strong technical structure of the chart. After a major downside deviation from the support level, the price returns and holds this level for now. That is a positive signal for traders who expect a recovery move.

Resistance around $0.12 as next target

On the chart, two red zones are visible: a support zone around $86 and a resistance zone around $0.12. As long as ARB closes above the support level and continues to confirm it, the resistance at $0.12 is the logical next target. That represents a potential increase of around 35% from the current price.

However, caution is warranted. The overall market conditions play a role, and a renewed decline below the support zone could significantly worsen the technical picture. Traders will be closely watching in the coming days whether ARB can defend this crucial level for a potential next upswing.