ARBITRUM DOWNTREND: REGULATORY CLOUDS GATHER! 📉
- Arbitrum hit an all-time high of $2.40 on Jan 12, 2024.
- The Arbitrum ecosystem's Total Value Locked (TVL) stands at $3.08 billion.
- The 4-hour chart shows an engulfing red candle, signaling potential bearish continuation.
🟢 Support Zone: $0.16, $0.136
🔴 Resistance Zone: $0.1783, $0.1985
⚖️ Bias: Short
Potential U.S. regulatory classification of L2 sequencers as exchanges threatens Arbitrum's core value proposition and presents a significant long-term risk.
Given the potential regulatory headwinds and bearish technicals, are you considering a short position on $ARB, or do you see a recovery ahead? 👇
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ARBUSDT
Perp
0.1094
-0.36%