$ARB Arbitrum is showing strong short-term momentum after gaining 10.65% and breaking above a multi-day horizontal trading range. Expanding buying volume and a reported increase of over 15% in open interest indicate aggressive market participation. However, growing long positioning creates the possibility of crowded trades and sudden pullbacks. Upcoming project unlocks also deserve attention.
📈 Bias: Strongly Bullish Short-term | 🎯 Entry: Retest of the breakout level | 🛡 Support: Former range resistance turned support | 🚧 Resistance: Psychological macro barrier | 🎯 Targets: Next major overhead liquidity pocket / Key extension level / Major swing peak | ❌ Invalidation: Hourly close back inside the old trading range
Strategy: Watch for a successful breakout retest before considering continuation. Avoid chasing extended candles.
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