Arbitrum shows bullish momentum after a falling wedge breakout, targeting a 25% gain with rising activity.
was experiencing upward momentum following a breakout from a falling wedge pattern. This bullish formation suggests that ARB could be heading toward higher price levels., reflecting a 1.55% increase in the past 24 hours and a 3.10% rise over the last week. The breakout occurred around the $0.51 level, with the next major resistance to watch being $0.6350, representing aAt the time of this writing, the Relative Strength Index was around 59.83, indicating a bullish divergence in price action.
Should ARB fail to hold above this level, the market could see a continuation of the recent bearish trend, especially if the price dips below the $0.50 mark.Over the past 24 hours, ARB recorded 190 large transactions, matching the 7-day high observed on 6th September. This increase in large transactions suggests renewed interest and activity in the Arbitrum market.In contrast, the 7-day low was recorded at 66 transactions on 3rd September indicating a recent uptick in market activity.
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