Technical analysis by dzdennis about Symbol ARB on 3/5/2024

The Arb coin, which has been stuck in the same region for about 2 months, has now reached the end of the pennant; With the pennant breakout, my target can be seen in the analysis. At the same time, the 3.50 regions also correspond to the Fibo 2.618 point. 3.618 target zone, 4.64; The 4.236 target zone shows 5.31... Additionally, the Bollinger band is also tightly stuck and is now waiting to explode. Due to the update coming to Etherium in March, ETH/USDT has already increased at a sufficient level. Considering that Arb was designed to improve scaling solutions for Ethereum, it is expected that it will be positively affected by the update. Perhaps this update will be the reason for the possible price increase; After all, ARB has been stalling at the same levels since Ethereum's rise. In fact, the reason why there has been no rise in the last 2 months is that a large amount of locked tokens will be opened on the 16th of March. I believe that after this news suppresses the coin price, the prices will continue to rise again. Likewise, we will not see such news for a long time after this opening. It may be logical to wait for March 16th to purchase (but the positive news of the March 12th ETH update leaves one in doubt); A breakout can be observed when the pressure on the price is lifted... There is nothing to say in the long term. As Etherium continues to develop, Arbitrum it will take bigger steps. IT IS DEFINITELY NOT INVESTMENT ADVICE!