Arbitrum Bulls Defend $0.50 Support as Crypto Market Takes a Breather

Layer 2 token shows resilience despite broader pullback—traders eye next leg up.

Arbitrum (ARB) refuses to buckle under selling pressure, clinging to the psychologically critical $0.50 level like a Wall Street banker clings to his bonus. While the broader altcoin market bleeds, ARB's chart paints a defiant green candle on the daily timeframe.

The bulls' last stand? A textbook bounce off the 200-day moving average—the kind of technical poetry that makes crypto degens whisper 'buy the dip' into their cold wallets. Meanwhile, Ethereum's favorite scaling solution keeps processing transactions at a fraction of mainnet fees, because apparently somebody still cares about utility in this casino.

Watch the $0.48-$0.52 consolidation zone: break north and we're flirting with August highs; lose $0.45 and even the most diamond-handed bagholders might start sweating. Either way, the derivatives market's whispering about a volatility spike—strap in.

Are Arbitrum bulls in control?

Bulls remain largely in control, with both the moving average convergence divergence (MACD) indicator and the daily relative strength index favoring buyers.

Against this backdrop, ARB has the potential to rebound above $0.57 and target $0.82, and then $1.20. ethereum (ETH) holding above $4,600 after coming close to its all-time high and then experiencing a dip adds to the overall bullish sentiment around Arbitrum and other layer 2 solutions.

The bullish sentiment around Arbitrum has also grown after crypto exchange Gemini launched a self-custody wallet aimed at unlocking decentralized finance and Web3 for all crypto users.

Excited to have the Arbitrum ecosystem present in @gemini’s new wallet https://t.co/1nl0clurfy

Arbitrum is a launch partner alongside Polygon, Optimism, and Base. With Arbitrum, users can invest in DeFi via Morpho by depositing funds into curated Gauntlet vaults on the Arbitrum blockchain. Users can earn rewards and withdraw anytime, as these funds remain unlocked.