- Amid the bullish momentum in the crypto market, Arbitrum (ARB) soared around 5%, pushing its price above $0.106 and its market capitalization to $637 million.
- The upward trend was witnessed after yesterday’s ceasefire announcement in the U.S.-Iran war, which helped Bitcoin (BTC) to surpass the $72,000 mark.
- The Layer-2 network is continuously expanding its reach through new partnerships and upgrades, making it more efficient.
On April 8, one of the leading Layer-2 cryptocurrencies, Arbitrum, gained an upward momentum, helping the cryptocurrency to soar above 5%.
The spike in cryptocurrency was seen amid the bullish momentum in the overall crypto market, where Bitcoin (BTC) managed to break above a major resistance level of $71,000.
At present, Arbitrum (ARB) is hovering around $0.1054 with a market capitalization of $637 million, according to CoinMarketCap.
Arbitrum Prepares for Possible Breakout with New Developments on Network
According to the current technical chart, ARB is showing a clean breakout with strong bullish candles on the chart. The token has successfully flipped a major resistance level around $0.103 into a support zone. Its higher low structure confirms that the uptrend is continuing. The current momentum in the cryptocurrency market is in 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. The current profit targets are expected to be $0.1090, $0.1135, and finally $0.1200. This technical pattern has boosted confidence that ARB can hold above recent support levels and go higher as long as buying pressure stays strong.
(Source: TradingView)
According to TradingView, the price movement in Arbitrum is setting up a bullish pattern, and technical indicators are confirming the current upward trajectory in the cryptocurrency.
The Relative Strength Index is revolving around 54. This suggests that the chart is currently suggesting a healthy buying interest without reaching overbought levels that could trigger an immediate large drop.
Various moving averages, including the 10-day and 20-day, are now giving buy signals as the price smoothly holds above them. At the same time, support levels remain solid around $0.099 from the recent low, while resistance sits around $0.110.
Apart from this, the growth in the layer 2 solutions has pumped the cryptocurrency’s price. On-chain data for Arbitrum revealed increased transaction counts and active addresses.
Apart from the technical indicators, there are other major developments that boosted the price of the cryptocurrency. Hyperliquid perpetual activity through USDH bank networks and HIP 3 upgrades has sharply increased fiat rails, stablecoin flows, and high-frequency trading directly on Arbitrum.
These new developments have increased network fees and overall liquidity. This, in turn, supports higher demand for the ARB token. This kind of integration is creating a direct link between derivatives trading and the Arbitrum infrastructure that benefits the entire chain.
According to DeFiLlama, the total value locked on Arbitrum is currently standing at around $1.94 billion, with stablecoin market capitalization around $3.6 billion.
(Source: DeFiLlama)
Apart from this, leading protocols include Aave V3 at $773 million, Spiko at $379 million in the real-world asset category, and Uniswap at $224 million. Arbitrum is currently maintaining a leading position as a top layer 2 for real-world asset tokenization with the highest number of such assets across networks.
Apart from this, the Arbitrum Foundation is planning to target more than 100 chains under its Orbit program throughout 2026, which expands the technology stack to new networks and boosts developer tools. Recent upgrades such as ArbOS Dia have improved gas pricing, throughput, and Ethereum compatibility.
The network has also expanded its boundaries in the gaming industry after the partnership with Ubisoft for Captain Laserhawk.
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