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.