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Arbitrum Price Eyes $0.45 Resistance as Volume Surges Over 480%
The Arbitrum (ARB) market has been making significant moves in the last day, with prices surging by an astonishing 17.88%. The token’s value is now hovering at $0.3616, which marks a notable turnaround from its 24-hour low of $0.3058 and nearing an intraday high of $0.3891.
What’s driving this rally? Fundamentally, the news surrounding Arbitrum enabling seamless on-chain U.S. equity transactions on Gemini has garnered significant attention. This breakthrough is expected to lower barriers for international investors by making equity trading faster and more transparent through blockchain infrastructure. The buzz also gained momentum with speculations around a potential partnership with Robinhood.
From a technical standpoint, the 4-hour chart illustrates that prices have broken above a key resistance level of $0.3332, now turned support. The token is currently sustaining gains above the mid-Bollinger band at $0.3171, which has expanded sharply due to rising volatility.
Source: coinpedia.org
