Arbitrum Plunges 15.5% as Bears Dominate Short-Term Market

Arbitrum (ARB) has experienced a significant decline in value, dropping over 15.5% to trade around $0.1652.

The token's 24-hour volume sits at $501.6 million, with a 7-day range stretching from $0.08502 to $0.2036, highlighting the asset's volatility.

While bears currently dominate the short-term market, a falling wedge pattern on the chart suggests compression before a potential reversal.

A breakout above $0.1693-$0.1734 could push the price towards $0.30, while a fall below $0.1611 and $0.1568 risks deeper losses for ARB token and DeFi adoption.