Technical analysis by YokubjonUmedovich about Symbol ARB: Buy recommendation (1/3/2025)

ARBUSDT ARBUSDT.P ARBUSDT Here’s a detailed analysis of the ARB/USDT (Arbitrum/USD Tether) weekly chart, including Fibonacci retracement levels, support and resistance zones, and possible price movements.---### **1. Key Levels**- **0% (low)**: **0.4224**.- **0.618 Levels**: **1.1879** and **1.1238—Fibonacci's golden pocket area, representing a strong resistance zone.- **0.5 Level**: **1.4244—the midpoint of Fibonacci retracement, acting as a secondary resistance level.100% (High)**: **2.4263**.---### **2. Price Action and Current Situation**Current Price**: **0.8310**, sitting near a support zone.Support Zone**: **0.812**, where price has found stability so far.Key Resistance**: Fibonacci levels between **1.1238–1.1879**.---### **3. Support and Resistance Zones**- **Support**: -0.812: Current support level holding the price.- **0.4224**: Strong historical support, acting as the last defense if the price drops significantly.- **Resistance**:1.1238–1.1879: The golden pocket zone (strong resistance where a pullback or slowdown may occur).1.4244: Secondary resistance at the 0.5 Fibonacci level.---### **4. Fibonacci-Based Trading Strategy**Buying Opportunity (Buy)**: Consider entering near the **0.812** level if support holds. Stop-loss: Place below **0.812**, such as at **0.750**, to limit losses.- **Take-Profit Targets**:First target: **1.1238–1.1879** zone. Second target: **1.4244** level.---### **5. Technical Analysis and Possible Scenarios**Bullish Scenario (Upward Movement)**: If the price holds above **0.812**, the next move could be toward the **1.1238–1.1879** resistance zone. A break above this zone could push the price to $**1.4244** or higher.Bearish Scenario (Downward Movement)**: If the price breaks below **0.812**, it might revisit the **0.4224** support level.---### **6. Trading Recommendations**Current Buying Opportunity**:Buying near **0.812** can be a good entry, considering clear stop-loss and take-profit levels.- **Confirmations**: RSI: Check if the price is oversold or overbought to validate the entry. MACD: Use to confirm trend strength or weakness.