$ARB Classic Descending Triangle – Support Test or Breakout Setup? 📉🚀

Arbitrum (ARB) on the 3W chart is coiling in a multi-year descending triangle, with price action hugging the lower trendline support (~$0.17 zone) after rejecting the horizontal resistance at $0.75–$1.00.

Current price ~$0.20, showing a recent bounce with weekly volume picking up – potential reversal if support holds.

Mixed but bullish-leaning setup:

✅ Multi-year descending triangle compression (7 touches on support)

✅ RSI (14) at 35 with bullish divergence vs recent lows

✅ MACD histogram flattening for potential crossover

✅ Weekly hammer candle off trendline hints at exhaustion

Targets on deck:

→ $0.75–$1.00 short-term (triangle breakout measured move)

→ $1.50–$2.00 mid-term (2024 ATH retest)

→ $3.00+ full cycle extension

Bear case: Weekly close under $0.15 triggers deeper dip to $0.10.

L2 scaling narrative intact – ARB primed for alt rotation if ETH rallies.

#Arbitrum #ARBBreakout #Layer2Gems #ARB #ARBUSDT