Current price: $1.03
Project: Arbitrum is a Layer 2 solution for the Ethereum network aimed at speeding up transactions and reducing gas fees, and is considered one of the strongest L2 projects by adoption.
Analytical opinion: After the recent correction and the drop of the currency from the 1.25 levels, ARB is holding around strong support near $1.00, which could form an area of attraction for speculators. Technical indicators show the beginning of a selling saturation.
Entry and exit opportunities (scalping or short swing):
Good entry area: $1.01 – $1.03
Short targets:
First target: $1.08
Second target: $1.13
Stop loss: Clear break of the $0.97 area