$ARB's Long-Term Chart Still Looks Heavy

Arbitrum's recent price action has investors on edge, according to a recent analysis by KuCoin. Despite its current bounce, the chart still looks heavy in the long term.

The analyst notes that the first major level they need to see reclaimed is around $0.50. Above that, $0.81 becomes the next real test for the asset.

However, until Arbitrum starts breaking these levels and building higher highs, the analyst remains cautious in their assessment. The bigger structure of the chart still looks weak compared to many other altcoins.