• Arbitrum has risen 8.43% in the last 24 hours and 27.87% over the past week.
• The price is above the key moving average, showing strong bullish momentum.
• Resistance near $0.50 may determine the next major price move.

Arbitrum (ARB) surged 8.43% in 24 hours and nearly 28% this week, trading above its key moving average. A break above the $0.50 resistance could push it toward $0.60, supported by strong technical signals and positive market sentiment.

At the time of writing, the token is trading at $0.4730, with a market capitalization of $2.43 billion. Trading volume in the last 24 hours was $357.92 million, down 8.61% compared to the previous day.

Arbitrum Technical Signals Show Strength

Recent price charts reveal that Arbitrum has broken above its short-term moving average, currently sitting at $0.4250, which is often seen as a sign of positive momentum.

The token is now moving toward the $0.50 level, which has acted as a key barrier in the past. If this level is crossed with strong demand, the next potential target could be near $0.60.

The price has also moved close to the upper boundary of its volatility range, which could mean larger price swings ahead.

Meanwhile, its momentum gauge (RSI) is above 60, showing strength without being in the overbought zone. Another signal, the MACD, has shifted into positive territory, supporting the case for continued gains.

Also Read: Arbitrum Eyes Breakout From Falling Wedge, Targets $1.50 Ahead

Market Activity and Sentiment

While ARB’s trading volume has fallen by about 8.45% to $622.87 million, open interest in the market has climbed by 5.71% to $288.28 million. This suggests that market participants are holding on to their positions rather than making quick trades.

A small positive funding rate of 0.0113% further points to a slightly optimistic outlook, with those betting on higher prices paying a small fee to those betting on declines.

Next Steps for Arbitrum Price

If Arbitrum manages to break above the $0.50 mark, it could open the door for a move toward $0.60. However, if the resistance holds, the price may return to its earlier range.

For now, technical indicators and overall market positioning hint at cautious optimism for the token’s short-term performance.

Also Read: Arbitrum (ARB) Gains Speed Targeting Key $0.50 Resistance