• Arbitrum gains 1.93% in 24 hours despite recent weekly losses.
• The price is trading at $0.4952, consolidating with low volatility.
• Technical indicators show early but weak bullish signals.
• Open interest declines, yet OI-weighted data leans slightly positive.

Arbitrum (ARB) is holding a positive price course against wider market volatility and is bouncing back after a recent correction. Over the last 24 hours, the token climbed 1.93%, though its performance across the past week reflects a 7.44% drop.

At the time of writing, ARB is trading at $0.4952 with a 24-hour trading volume of $546.86 million, up 5.17%. The token’s market capitalization stands at $2.62 billion, reinforcing its strong presence among layer-2 projects.

Also Read: Next Big Move: Arbitrum (ARB) Readies for Explosive 400% Upside

ARB Technical Indicators Reflect Cautious Optimism

The four-hour chart shows ARB consolidating below the 20-period simple moving average at $0.4987, hinting at a neutral setup with a mild bearish tilt. The Bollinger Bands are narrowing, suggesting reduced volatility and foreshadowing a significant move in either direction. Such conditions typically make traders cautious, as they wait for a confirmed breakout before committing.

The Relative Strength Index (RSI) sits around 47.55, slightly below the neutral 50 level. This positioning signals a minor bearish bias, but the indicator recently bounced back from the low 40s, indicating renewed interest. However, the bounce is not substantial enough to make a definitive bullish trend. Since the RSI is not in overbought or oversold levels.

Furthermore, the Moving Average Convergence Divergence (MACD) contributes additional information. A bullish crossover has recently occurred, as the MACD line has crossed from below to above the signal line while the histogram becomes positive.

Although this indicates early bullish momentum, the indicator readings are still near the zero line. A real reversal requires more significant buy follow-through strength. A breakout above $0.5247 resistance could confirm bullish potential; otherwise, an inability to maintain $0.49 could see a $0.4726 retest.

Open Interest Shows Market Hesitation

According to CoinGlass data, the open interest has decreased by 2.08% to $374.98 million as traders unwind leveraged positions. The trend is a guarded signal since fewer contracts are a sign of profit-taking, stop-outs, or diminishing belief in short-term momentum.

Even with this contraction, the OI-weighted funding rate remains positive at 0.0104%. It suggests that even though speculative action has reduced, contracts remaining in circulation are biased slightly in favor of bullish positions.

Also Read: Arbitrum (ARB) Price Analysis: Is $0.60 the Next Key Resistance Level?