Arbitrum (ARB) has surged over 11% in the past 24 hours, outperforming most altcoins. This rebound comes as the overall cryptocurrency market recovers by about 7%, and also reflects a recent significant increase in Arbitrum network activity. As on-chain metrics improve, whether ARB is bottoming out has become a key focus for the market.
Looking at the 4-hour chart, ARB appears to have formed a double bottom pattern following the previous day’s decline. Bulls pushed the price from $0.19 to $0.24, but the $0.24 area now serves as a key neckline. Only a decisive breakout above this level would confirm a structural reversal and open up room for an advance to $0.311.
In terms of momentum, the momentum indicator quickly rebounded from negative territory to 0.0292, but remains relatively weak compared to other altcoins. Capital flows are also showing divergence, with the Chaikin Money Flow (CMF) still at -0.16, indicating that bulls have yet to gain full control of the market. Nevertheless, the improvement in on-chain demand is providing support for a potential breakout.
Arbitrum’s network activity has seen a significant surge this week. According to Nansen data, the chain’s active addresses surpassed 2 million, up 135% week-over-week, making it the fastest-growing among all EVM chains. While BNB Chain, Polygon, and Base have higher overall activity, Arbitrum’s growth rate is particularly notable.
Developer activity is also rising, with dApp activity within the Arbitrum One ecosystem showing a clear increase in the past 24 hours. Over 900 dApps across the chain (including core applications like Uniswap) contributed to about $1.2 billion in daily trading volume, demonstrating stable and active ecosystem demand.
On-chain fund metrics show that Arbitrum’s total value locked (TVL) grew 7% this month to reach $6.53 billion. Current total network trading volume and DEX trading volume are $639 million and $607 million, respectively, showing notable fluctuations compared to November but overall maintaining a healthy level.
For traders, the next step is to watch whether ARB can break through the $0.24 neckline. If successful, $0.31 will become the main target; if not, ARB may continue to consolidate within the current range.
Supported by rising network activity, development progress, and TVL, ARB still has structural upside potential, but the key will be whether demand can continue to expand and drive the price through a critical breakout.
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