Arbitrum (ARB) bull finally starts: The target is very ambitious!

Arbitrum (ARB), which is closely followed by the Turkish crypto ecosystem, finally gave a bullish signal.

Arbitrum, one of the leading names in Layer-2 projects, had been struggling to rise for a long time. The popular altcoin, which has been struggling with selling pressure due to BTC's inability to stay above $60,000, the background of Layer-2s, and its tokenomics, finally hinted at a rise. ARB, which has been in a downtrend since April 1, recently broke out and prepared for a bull run. So, what levels should ARB investors consider?

The longing of Arbitrum (ARB) investors is coming to an end

Arbitrum, which has been experiencing downward price action since April, is currently breaking its chains. The Layer-2 altcoin that jumped on the downward trend on September 9th has yet to make the expected explosion. However, the technical outlook supports Arbitrum's rise.

As of the writing of the news, ARB, which finds buyers at $0.51, can aim for $0.80 - $0.99 - $1.23 - $1.45 - $1.61 and $1.80 respectively if it starts to rise. Even reaching the first target from the current level indicates an increase of over 50%.

Bitcoin's failure to stay below $60,000, an increase in BTC dominance, or a lack of interest in Layer-2 solutions could push ARB down. The current low levels of the pair may make it difficult to determine a support level. ARB investors can monitor round numbers as support during this process.

For example, the levels of $0.40 and $0.30 can serve as psychological supports, so a bounce can be expected from these levels. The loss of the recent low level of $0.46 will be a precursor to larger declines.

This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research when making decisions.