ARB Sinks 11% After Token Unlock — More Pain Ahead or Buying Opportunity?

ARB has taken a sharp 11% drop following a recent token unlock. This sudden dip has stirred up debate: is it a sign of more trouble, or a ripe chance to invest? The article delves into the potential outcomes and highlights other coins that might be poised for a rise. Arbitrum (ARB) currently trades between 46 and 52 cents. It's marked by a recent dip, falling over 14 percent in just a week and 25 percent this month. However, the six-month trend shows an 11.55 percent increase, hinting at potential recovery. The nearest resistance level stands at 55 cents, presenting a modest yet hopeful target for upward movement. Breaking this could push ARB towards 61 cents, offering a potential 17 percent gain from current prices. The support holds strong at 44 cents, creating a safety net. While recent stumbles are clear, ARB's underlying indicators suggest it's poised for a rebound.