Ramazan Eles 
One of the favorite altcoins among Turkish crypto investors, Arbitrum (ARB), has broken its 161-day-long downtrend.
Arbitrum, a leading Layer-2 project, had been frustrating its investors for quite some time. Weighed down by Bitcoin’s weak performance, the lack of hype around Layer-2 solutions, and constant selling pressure due to its tokenomics, ARB has now given its first positive signal. Since April 1st, Arbitrum had been stuck in a downward trend, but now it seems to have broken through, indicating a potential 53% rise. So, what levels should ARB investors keep an eye on?
After months of weak price action, Arbitrum may finally be turning things around. On September 9th, the altcoin broke through its prolonged downtrend but hasn’t yet made a decisive upward move. Still, the technical outlook favors a bullish run for Arbitrum. As of this writing, ARB is trading at $0.51, and if it continues to gain momentum, it could test key levels like $0.80, $0.99, $1.23, $1.45, $1.61, and $1.80. Reaching the first target alone would represent a 53.30% increase from its current price.
However, any downward movement in Bitcoin, a rise in BTC dominance, or a decline in interest for Layer-2 projects could slow ARB’s progress. Given that it’s currently trading near its lows, determining solid support levels could be challenging. In this situation, investors might want to monitor psychological support zones. For instance, the $0.40 and $0.30 regions could act as mental barriers for support. If ARB drops below its recent low of $0.46, alarm bells might start ringing.
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