Arbitrum Token Near $0.50 Resistance With 28.43% Weekly Gain

The Arbitrum token (ARB) has drawn attention as it tests the $0.50 level, a critical resistance point that could signal a bullish reversal. Over the past week, ARB has gained more than 28%, reflecting a strong rebound from a prolonged bearish phase. Technical analysts have identified a potential double bottom pattern forming around the $0.4578 support level, a classic indicator of a trend shift from bearish to bullish conditions. The current neckline of the pattern sits at $0.50, where traders are now anticipating a decisive move upward [1].

According to recent market data, ARB is trading at $0.4945 as of the latest update, with a 28.43% weekly gain and a 13.18% daily increase. The 24-hour trading volume has reached $592 million, indicating heightened market participation and interest in the token. This volume spike suggests that both retail and institutional traders are closely watching the price action for a breakout confirmation [1].

The double bottom structure has been a focal point for technical traders, who are using it to assess the potential for an upward move. The measured distance from the base of the pattern to the neckline points to a target price of $0.7747 should the breakout succeed. Analysts at Bitcoinsensus have noted that the pattern’s validity remains intact as long as the price stays above $0.4578. A failure to break through $0.50 could result in renewed downward pressure, leading the price back to key support zones [1].

Given the current market setup, many traders are adopting a wait-and-see approach. Long positions are being held off until a confirmed breakout occurs, as false breakouts can mislead and trap traders in losing positions. The next few trading sessions will be crucial in determining whether the bulls can gather enough momentum to push past the $0.50 resistance level. If successful, ARB could see a continuation toward the $0.7747 target, a level not reached in recent months [1].

Despite mixed signals in the broader cryptocurrency market, ARB’s recent performance highlights strong underlying demand. The token’s resilience amid wider market uncertainty has led some traders to view it as a potential leader in the next phase of the bull market. The combination of a well-defined technical pattern, rising volume, and price action suggests that ARB is at a key inflection point that could define its short-term trajectory [1].

Source: [1] Arbitrum Price Tests $0.50: Are Bulls Ready to Push ARB Toward $0.77? (https://blockonomi.com/arbitrum-price-tests-0-50-are-bulls-ready-to-push-arb-toward-0-77/)