Arbitrum (ARB) has seen a significant 17.3% rally, fueled by rumors of a potential partnership with Robinhood and a surge in trading volume, reaching $0.3654 at the time of writing.
Technical analysis indicates ARB broke a key resistance level at $0.3317, which has now turned into a support area. The price is holding above the mid-Bollinger band, with the Bollinger Bands widening, signaling increased market volatility.
Traders anticipate a short-term pullback as ARB approaches the upper band, with immediate resistance at $0.4289. A stronger barrier exists at $0.4568, and a successful breakout could confirm a short-term uptrend, potentially boosted by a partnership with Robinhood.
Investors are monitoring support and resistance levels closely to determine ARB's future path. Social media buzz and bullish signals are contributing to ARB's momentum in the market.