$ARB consolidating at 0.1145, down -0.95% but holding structure pretty well. Layer 2 season feels like it's taking a breather.

We spiked to 0.1224 early in the session then dumped hard to 0.1121 before stabilizing here. Now trading right between all three MAs which means we're in a tight range. Volume at 51.66M $ARB is decent.

The chart shows indecision right now. If we break above 0.1150 and hold, could see 0.117-0.120 come back into play.

Lose 0.1120 though and we're probably heading to 0.110 or lower.

Arbitrum still one of the strongest L2s fundamentally. Just need the market to cooperate 🔵