Arbitrum Skyrockets 15% in 24 Hours – Are Bulls Gunning for $0.60 Next?

Arbitrum defies market lethargy with a blistering overnight rally—traders now eyeing the next psychological resistance level.

### The Layer-2 Gainer Nobody Saw Coming

While Bitcoin flatlines, Arbitrum's native token just ripped through resistance like a hot knife through butter. The 15% surge smells like accumulation—smart money positioning before the next leg up.

### $0.60 or Bust: The Chartist's Dilemma

Technical analysts are drawing trendlines faster than a degenerate gambler chases losses. The $0.60 target isn't just a number—it's the make-or-break zone where profit-takers historically swarm.

### The Real Winner? Gas Fee Refugees

Ethereum mainnet users—tired of paying $50 for a sandwich swap—are flooding to Arbitrum's cheap transactions. Who needs Lambos when you can actually afford to move your crypto?

*Wall Street bankers still trying to short this rally with their 'blockchain ETFs.' Good luck.*

Arbitrum is riding the bulls, running over 15% higher in the past 24 hours and nearly 40% in the last week. The token now trades at $0.5464, lifting its market cap to $2.81 billion as 24-hour trading volume ROSE 157% to $1.45 billion. The surge comes amid growing ecosystem confidence and strategic developments that have reignited trader interest. 

What’s Driving the Arbitrum Price?

The two major factors below have strengthened Arbitrum’s price action:

ARB Price Analysis

ARB’s price breakout above the $0.53 level aligns with the 23.6% Fibonacci retracement and has fueled short-term bullish sentiment. The token has also crossed key technical levels: the 200-day SMA at $0.388 and the 7-day EMA at $0.467, indicating a decisive shift in momentum.

The RSI sits NEAR 71.64, signaling strong buying pressure but also cautioning against potential overextension. If momentum cools, ARB could consolidate around $0.54, the first major support, followed by $0.4931.

The MACD histogram turning positive at +0.0121 underscores continued upward momentum. Resistance levels now stand at $0.5828, with a further upside target at $0.60. A clear breakout above these levels could confirm sustained bullish sentiment. However, profit-taking may trigger short-term pullbacks.

FAQs

The next major resistance is at $0.5828, followed by $0.60 if momentum continues.

With RSI near 71, ARB is approaching overbought territory, suggesting possible consolidation.

Immediate support lies at $0.54, with stronger support at $0.4931.