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Arbitrum: Analyzing ARB’s odds of a 46% rally

ARB is forming a descending triangle, suggesting a possible breakout. The price is near critical support at $0.6890. If resistance at $0.78 is broken, ARB could rise to $1.0690. However, bearish indicators and declining volume put pressure on an upside movement.

Despite bearish indicators, traders remain hopeful for a breakout. On-chain metrics reveal decreasing trading activity, which reflects dwindling trader interest. Current market conditions indicate a cautious approach, as analysts monitor for significant price movements in ARB’s next moves.

This is community-generated content, not advice from ONUS.
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