Arbitrum (ARB) trades inside a descending channel pattern, with a potential breakout poised to trigger a bullish trend.
Arbitrum price moves inside a descending channel pattern, breakout could signal a bullish move. On-chain data shows that a whale has accumulated 2.38 million ARB tokens worth $1.69 million on Wednesday. Santiment data shows the development activity is rising, signaling a bullish move. A daily candlestick close below $0.564 would invalidate the bullish thesis. Arbitrum trades inside a descending channel pattern, with a potential breakout poised to trigger a bullish trend.
The Relative Strength Index and the Awesome Oscillator on the daily chart are below their respective neutral levels of 50 and zero. For bulls to sustain momentum, both indicators must rise above these critical levels, potentially supporting the ongoing recovery rally. ARB/USDT daily chart Santiment’s Development Activity metric tracks the frequency of project development events recorded in the public GitHub repository over time.
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