Arbitrum (ARB) registered positive momentum today as its price increased by 6.35% over the last 24 hours to $0.5094. The market capitalization reached $2.69 billion, with daily trading volumes at $576.7 million, registering a drop of 6.07% from the last session.
For more than 875 days, ARB has remained locked in a descending channel of lower highs and lower lows. The price has repeatedly tested the channel’s upper boundary but failed to break out. The recent move around the $0.50 level shows that new momentum is building within this tight range.
Currently, ARB is trading around the $0.49–$0.51 support zone, which has reacted as an important area in recent sessions. Trading above this support can lead the price to test the downward trendline near $0.54. That level is acting as the current resistance against any upward move.
Breakout levels and bullish signals for ARB’s price action
Crypto commentator Daniel Ramsey noted three breakout points at $1.0095, $1.4880, and $2.4310. They line up with Fibonacci extensions and major historical reaction areas. A powerful move above the top of this channel would speak to a move away from the longer-term downtrend.
A falling wedge pattern shows up on the chart, and it holds strong around the $0.49–$0.50 level. This pattern usually signals a possible trend reversal. Sellers are struggling to push ARB lower at this level. If the momentum continues, it could lead to an upward move.
On-chain data supports this bullish setup. Fees on Arbitrum jumped 160% in the past week, according to Nansen, making it one of the strongest networks in terms of activity. In June, fees grew by just 32%, which shows that user activity is now picking up much faster.
Network demand and bullish community sentiment for ARB
This rise in usage contrasts with the weak price action of recent weeks, creating expectations that the price will eventually catch up with the growing network demand. A combination of technical compression and rising adoption often comes before sharp moves in digital assets.
Community sentiment is also leaning positive, with 78% voting bullish and 22% bearish on CoinMarketCap. Traders say holding support near $0.50 and pushing toward $0.54 would be the first sign of strength, opening the way to higher levels at $1.20 and possibly $1.80.
If buyers hold the momentum above support, sentiment can shift quickly and push Arbitrum back into the spotlight. For now, the $0.49–$0.50 zone is a key level, and holding it could decide whether the long downtrend finally comes to an end.
