ARB/USDT Break the Descending channel, Bullish Momentum ???

Yello Paradisers, Potential Coin! #Arbitrum

💎 ARB has broken out of the descending channel on the 4H timeframe. This could signify bullish momentum for ARB, especially if the daily candle closes above the pattern.

💎 Examining previous movements, ARB has been navigating within a falling wedge pattern. Interestingly, the most recent lower low did not reach the support trendline of the falling wedge, but it did align with the Fibonacci 1.414 target down.

💎 Should the breakout of the descending channel fail, ARB is likely to revert downwards to test the Fibonacci area. This could be an optimal accumulation point as prices touching the golden ratio of 1.618 often result in significant bounces. Notably, this golden ratio also coincides with the area support trendline, enhancing the likelihood of a price bounce upon contact.