POL Rallies After Key Breakout – Could Arbitrum Be Next To Follow Suit?

POL has surged in value after smashing through a critical resistance level, leaving traders buzzing with excitement. As the crypto market watches this impressive move, eyes are turning to Arbitrum. Could it be the next coin to experience a similar breakout? Discover which cryptocurrencies are poised for potential growth in the current market.

POL (ex-MATIC) Market Snapshot: Past Declines and Current Levels

Past performance shows a monthly drop of 18.07% and a six-month decline of 43.02% with a recent one-week gain of 14.43%. These movements highlight significant volatility and downward pressure, with brief recovery spurts appearing amid overall weakness. The price action has reflected a challenging environment for bulls, as most upward movements have been short-lived.

Current trading sees POL moving between $0.20 and $0.38, with a key resistance at $0.48 and strong support near $0.14. The secondary resistance at $0.65 poses a barrier, while the market remains uncertain with mixed momentum indicators. Bears have the upper hand for now, but traders might look for breakouts within these levels to indicate a potential shift toward bullish activity.

Arbitrum Price History and Range-Bound Outlook

Last month Arbitrum recorded a 16.20% decline, while the past six months showed a 35.36% drop. Recently, a short-term rebound of 7.85% provided some relief. The price has fluctuated between $0.30 and $0.60, reflecting persistent downward pressure, although occasional upward movements have temporarily interrupted the overall decline.

The current price is located within a range defined by near-term support at $0.17 and resistance at $0.78, with a secondary resistance at $1.08. The RSI at 52.40 and modest signals from oscillators indicate a balanced market, with neither bulls or bears dominating. This scenario suggests that trading within the established range could be the most effective strategy.

Conclusion

POL has shown strong momentum after a significant breakout. This surge has put it in the spotlight and raised questions about similar opportunities for ARB. Market trends indicate that both tokens could experience notable growth. As attention shifts to ARB, its performance will be closely watched in the coming weeks.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.