Arbitrum (ARB) is on the positive price trajectory and experiencing a surge in its value. Over the last 24 hours ARB is up by almost 5%, showing signs of further upward momentum. After facing huge volatility, ARB is on the path of recovery and poised for a huge upward target.
At the time of writing, ARB is trading at $0.5136 with a 24-hour trading volume of $353.34 million and a market cap of $2.71 billion.
Source: CoinMarketCap
The overall market is in a positive phase; several major coins are experiencing surges along with Bitcoin and Ethereum and pointing towards a bullish surge.
Also Read: Arbitrum Holds $0.48 Support, Poised for Explosive $0.52 Breakout
According to analysis from Rose Premium Signal, Arbitrum’s native coin ARB is showing a fresh sign of strength after weeks of sideways consolidation. The technicals show a clear shift in momentum because the coin has developed a rounded bottom setup, a classic reversal pattern that has a tendency to confirm that a prolonged downtrend comes to an end.
The crossover occurred after ARB decisively broke out above its major resistance area, which had previously capped price rallies. Technical analysts identify the $0.45–$0.50 level as a major area of accumulation, where demand continuously absorbs selling pressure. This level now becomes a solid base for further rallies.
Source: X
With a confirmed weekly breakout, ARB sentiment has gone positive. If it continues, bulls are aiming for a line of higher resistance targets. The first is $1.0362, a significant roadblock where profit-taking can be anticipated. Further away, the $1.4608 mid-range supply zone may next resist, while the $1.8756 target is the full extent of the rounded bottom base and a potential long-term target.
Open interest in crypto derivatives climbed 9.90% to $401.94 million, even as trading volume slid 20.22% to $599.98 million. The split signals cooling short-term activity but a buildup of longer-term positioning, as traders appear to be opening fresh contracts rather than closing out exposure.
Source: Coinglass
Meanwhile, the OI-weighted funding rate was stable at 0.0087%, meaning that with rising open interest, leverages are still appropriately balanced across platforms. The relatively neutral funding rate, thus, would suggest that both longs and shorts are not dominant and are waiting for an upcoming catalyst.
Source: Coinglass
Also Read: Arbitrum (ARB) Price Forecast: Will ARB Hit $2.40 Again or Struggle Below $0.50?
Also read: 2 factors are behind Bitcoin’s $111K recovery, but is it a bull trap?
