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Arbitrum Price Eyes $0.45 Resistance as Volume Surges Over 480%
The ARB price has been making waves in the market after a remarkable surge of 17.88% within 24 hours, backed by an astonishing 487% increase in trading volume. As this extraordinary growth continues to fuel excitement around Arbitrum’s (ARB) prospects, our team dives deeper into the chart analysis to provide key insights and potential resistance zones.
Currently, ARB is being traded at $0.3616, having breached its previous low of $0.3058 and touching an intraday high of $0.3891. The price has successfully broken above a crucial resistance level at $0.3332, which it can now rely on as support. Furthermore, the token’s recent price action has also led to an expansion in Bollinger Bands, signaling rising volatility.
The RSI reading of 76.22 hints at overbought conditions, which could prompt a minor pullback before resuming the uptrend. Nevertheless, the surge in volume suggests that buyers remain firmly in control.
Source: coinpedia.org
