TLDR:The Arbitrum chart confirms a double bottom breakout above $0.50, setting bullish targets near $0.70 in the short term.The ARB price has turned $0.48 into strong support after breaking neckline resistance, strengthening the bullish setup.Traders project potential upside to $1.00–$1.20 if momentum builds beyond the initial double bottom target zone.Short-term risks remain with TradFi corrections, but ARB structure stays valid unless price drops below $0.30.Arbitrum’s price action has given traders a clear signal. After months of sideways movement, the token carved out a double bottom that broke to the upside. The move pushed ARB through a long-standing resistance near $0.50, flipping it into support. Now it trades just below the token. Market watchers now point toward targets as high as $0.70 in the near term. Short-term dips remain possible, but the chart structure has shifted firmly in favor of buyers.Arbitrum Price Breakout Gains StrengthAccording to chart analysis shared by Alex Clay on social platform X, the ARB/USDT daily chart displayed a textbook double bottom. #ARB a perfect Double Bottom formationWe might go lower due to the TradFi market correction, but no doubts it's the dip for $ARB and the reaction will be Mega Bullish once there is a recovery$ARB pic.twitter.com/XR0AJOAgEI— Alex Clay (@cryptclay) August 22, 2025The first low appeared near $0.28–$0.30 in April, with a second dip around the same range in July. This repeated support zone confirmed a base that prepared the ground for a reversal.The neckline formed around $0.48–$0.50, where sellers had previously capped rallies. Breaking above that level shifted resistance into support. Clay pointed out that this breakout signaled renewed buyer control after months of sideways movement. Market momentum appeared to flip from defense to offense.Current price data from CoinGecko placed ARB at $0.4811, down 2.21 percent in the past 24 hours. Weekly performance also showed a 5.70 percent dip. Despite this, the technical setup remained intact with price holding near breakout levels. Arbitrum price on CoingeckoTraders described the pullback as a natural retest of the neckline.If this zone holds, the measured move projects upside toward $0.70. This target is derived from the height of the double bottom pattern, applied to the breakout level. Some analysts believe momentum could even push ARB toward $1.00 or higher if volume expands.Crypto Traders Weigh Price Risks and RewardsWhile the bullish setup looked promising, analysts also flagged risks. Clay cautioned that corrections in traditional markets could weigh on Arbitrum temporarily. A move back toward $0.45–$0.48 support was possible if selling pressure increased.If that support failed, deeper pullbacks to $0.40 might come into play. Still, the double bottom would remain valid unless price dropped below $0.30. That threshold marked the structural low that underpins the entire bullish case.The shift in trend has fueled optimism across the crypto trading community. Bulls see ARB reclaiming upside levels not touched in months. Bears, however, argue the broader environment remains fragile and could cap gains.For now, the breakout above $0.50 has drawn attention from both sides. Price action in the coming days will likely confirm whether momentum can extend higher or face another retest.The post Arbitrum Price Confirms Bullish Double Bottom, Eyes $0.70 With Room Toward $1.00 appeared first on Blockonomi.