Arbitrum (ARB) is moving in a bullish price trajectory as the token has broken above the upper boundary of the descending channel. According to CoinMarketCap, the ARB price has surged by 8.12% over the last 24 hours and 20.03% over the last week.
At the time of writing, ARB is trading at $0.1324, with a trading volume of $215.83 million, which has surged by 36.42% over the last 24 hours. However, its market capitalization stands at $799.88 million, which is also up by 8.11%.
Source: CoinMarketCap
Also Read: Arbitrum (ARB) Rally Gains Steam: Could It Surge 150%-400% in Next Cycle?
Arbitrum (ARB) Eyes $0.46 After Bullish Channel Breakout
Furthermore, the crypto analyst Jonathan Carter pointed out that ARB is showing early signs of a trend reversal after breaking out of a descending channel on the daily chart. This pattern had defined weeks of bearish movement, with consistent lower highs and lows.
The breakout above this structure suggests weakening selling pressure and signals that market sentiment may be shifting in favor of buyers.
Technical indicators are beginning to support the bullish outlook, with momentum turning positive and buying activity gradually increasing.
Rising volume and improving price structure indicate strengthening demand. Traders often view such breakouts as early signals of a broader move, especially if the price manages to hold above the former resistance level and confirms it as support.
Source: Jonathan Carter’s X Post
In case the bulls sustain their strength, ARB can consider $0.17, $0.23, $0.29, $0.36, and $0.46 to be important resistance points. Such resistance points will serve as possible roadblocks in case of a likely rally.
However, any further advance and confirmation should be taken into account since breakout failures are common in the crypto market.
Technical Indicators Reinforce the Upward Potential
According to TradingView, there is a definite bullish trend reversal in ARB, coming after reaching the bottom on March 15 at $0.08.
The price is experiencing a sharp bounce upwards since then, moving close to $0.13286 by now. The upward price movement helped the asset move up through the medium Bollinger Band to the upper one.
Source: TradingView
The MACD indicator confirms this upward trend with a bullish crossover that started just this month. The MACD line is pointing upwards and approaching the positive zone, while the histogram is increasing in height and moving to the upside as well.
Although breaking out above the upper Bollinger Band around $0.1303 shows short-term momentum, it could also trigger a retracement.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Arbitrum (ARB) Targets Breakout Toward $0.26 as Bullish Momentum Builds
