- Amid the bullish momentum in the cryptocurrency market, the price of Arbitrum (ARB) rose by about 5%, pushing its price above $0.106 and its market cap to $637 million.
- The upward trend was witnessed after yesterday’s ceasefire announcement in the US-Iran war, which helped Bitcoin cross the $72,000 mark.
- The Layer 2 network is constantly expanding its reach through new partnerships and upgrades, making it more efficient.
On April 8, one of the leading Tier 2 cryptocurrencies, Arbitrum, gained upward momentum, helping the cryptocurrency rise above 5%.
The rise in Arbitrum price was seen amid bullish momentum in the overall cryptocurrency market, as Bitcoin (BTC) managed to break through the key resistance level of $71,000.
Currently, Arbitrum (ARB) price is hovering around $0.1054 with a market cap of $637 million, according to CoinMarketCap.
Arbitrum Price is eyeing a potential breakout with new developments on the network
According to the current technical chart, ARB price is showing a clean breakout with strong bullish candles on the chart. The token successfully flipped a key resistance level around $0.103 into the support zone. Its lower-lower structure confirms that the uptrend continues. The current momentum in the cryptocurrency market is under the control of buyers, which supports the current bullish structure.
The current trade comes after the cryptocurrency entered between $0.1040 and $0.1060, with a stop loss placed at $0.1000 to manage risk. Current profit targets are expected to be $0.1090, $0.1135, and finally $0.1200. This technical pattern has reinforced confidence in ARB’s ability to hold above recent support levels and move higher as long as buying pressure remains strong.
(Source: TradingView)
According to TradingView, Arbitrum’s price action is creating a bullish pattern, and technical indicators confirm the cryptocurrency’s current upward trajectory.
The RSI is hovering around the 54 level. This indicates that the chart is currently indicating healthy buying interest without reaching overbought levels that could lead to an immediate significant decline.
Various moving averages, including 10-day and 20-day, are now providing buy signals as the ARB price settles above them smoothly. Meanwhile, support levels remain strong around $0.099 from the recent lows, while resistance lies around $0.110.
Apart from this, the growth in layer-two solutions has pushed up the price of Arbitrum. On-chain data for Arbitrum revealed an increase in the number of active transactions and addresses.
Aside from technical indicators, there are other major developments that have boosted the price of the cryptocurrency. Excess fluid Sustained activity through USDH bank networks and HIP 3 upgrades has led to a sharp increase in fiat bars, stablecoin flows and high-frequency trading directly on Arbitrum.
These new developments have increased network fees and overall liquidity. This, in turn, supports high demand for the ARB token. This type of integration creates a direct link between derivatives trading and Arbitrum’s infrastructure that benefits the entire chain.
According to DeFiLlama, the total value locked on Arbitrum is currently around $1.94 billion, with a stablecoin market capitalization of around $3.6 billion.
(source: DeFiLlama)
Apart from this, the leading protocols include Aave V3 worth $773 million, Spiko worth $379 million in the real asset class, and Uniswap worth $224 million. Arbitrum currently maintains a leading position as the top Layer 2 To tokenize assets in the real world with the largest number of these assets across networks.
Aside from that, Arbitrum plans to target more than 100 chains under its Orbit program throughout 2026, expanding the technology stack to include new networks and enhancing developer tools. Recent upgrades like ArbOS Dia have improved gas pricing, throughput, and compatibility with Ethereum.
The network has also expanded its boundaries in the gaming industry after partnering with Ubisoft for Captain Laserhawk.
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