Arbitrum is trading around 0.1628 on the 8H timeframe, compressing right on the horizontal support at 0.1630 after an October 30 flush wicked down to the rising trendline near 0.1480 and was bought back.
The structure here began with the August 15 low near 0.0720, where the rising trendline originates. ARB bounced off it in late August near 0.0840, broke out through 0.1100 and 0.2000 in early September, and tagged 0.2060 before pulling back to 0.1320 on September 14. A second breakout leg carried price to the high near 0.2550 on September 23. Since then ARB has traded in a range between 0.1630 and 0.2040, with the highs near 0.2030 on October 10 and 0.2040 on October 20 capping every rally, while 0.1630 held on October 8 and again on October 24.
Price is currently pressing that same level with candles tightening after the wick, while the trendline sits just below near 0.1555, stacking two supports within a few cents of each other.
Key Levels To Watch:
→ 0.2550 September 23 high, breakout extension top
→ 0.2040 October 20 swing high, range top
→ 0.1800 Prior support, first major level to reclaim
→ 0.1628 Current price, sitting on horizontal support
→ 0.1555 Rising trendline, current level
→ 0.1480 October 30 wick low, key support
→ 0.1320 September 14 low, deeper support
→ 0.0720 Trendline origin, August 15 low
A hold of 0.1630 and a reclaim of 0.1800 would show buyers defending the stacked support and set up a rotation back toward the 0.2040 range top, with a break above it putting the 0.2550 high back in view.
Losing 0.1630 would bring the trendline back into focus, and a loss of the 0.1480 wick low would be the first real break of structure since August, exposing 0.1320 as the next support with a deeper retracement if that level fails.
Hold 0.1630 and the trendline and ARB builds toward the top of the range. Lose 0.1480 and this consolidation breaks down toward lower support.
Bias stays neutral to cautiously bullish given the repeated defense of this support, but 0.1800 needs to be reclaimed to confirm the next leg higher.
The structure here began with the August 15 low near 0.0720, where the rising trendline originates. ARB bounced off it in late August near 0.0840, broke out through 0.1100 and 0.2000 in early September, and tagged 0.2060 before pulling back to 0.1320 on September 14. A second breakout leg carried price to the high near 0.2550 on September 23. Since then ARB has traded in a range between 0.1630 and 0.2040, with the highs near 0.2030 on October 10 and 0.2040 on October 20 capping every rally, while 0.1630 held on October 8 and again on October 24.
Price is currently pressing that same level with candles tightening after the wick, while the trendline sits just below near 0.1555, stacking two supports within a few cents of each other.
Key Levels To Watch:
→ 0.2550 September 23 high, breakout extension top
→ 0.2040 October 20 swing high, range top
→ 0.1800 Prior support, first major level to reclaim
→ 0.1628 Current price, sitting on horizontal support
→ 0.1555 Rising trendline, current level
→ 0.1480 October 30 wick low, key support
→ 0.1320 September 14 low, deeper support
→ 0.0720 Trendline origin, August 15 low
A hold of 0.1630 and a reclaim of 0.1800 would show buyers defending the stacked support and set up a rotation back toward the 0.2040 range top, with a break above it putting the 0.2550 high back in view.
Losing 0.1630 would bring the trendline back into focus, and a loss of the 0.1480 wick low would be the first real break of structure since August, exposing 0.1320 as the next support with a deeper retracement if that level fails.
Hold 0.1630 and the trendline and ARB builds toward the top of the range. Lose 0.1480 and this consolidation breaks down toward lower support.
Bias stays neutral to cautiously bullish given the repeated defense of this support, but 0.1800 needs to be reclaimed to confirm the next leg higher.
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน