Arbitrum retraces September’s impulse move — Here are the key levels to watch!

Arbitrum [ARB] token has shed 17.44% of its value over the past week. Its decline was more pronounced than the weekly performance of major crypto assets, reflecting short-term weakness. The altcoin sector might get a boost if the sentiment stabilizes. Bitcoin [BTC] faces a potentially volatile week as a slew of macroeconomic updates hit the markets. If the crypto market can hold on, a turnaround could be around the corner. Arbitrum descends to local demand zone On the 1-day chart, the swing structure was bullish. The rally from $0.131 to $0.255 in September was the latest bullish impulse move on this timeframe. The drawdown in recent weeks was a pullback within this bullish structure. The technical indicators reflected the difficulties buyers faced during the correction.

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