Arbitrum’s price has risen significantly, exceeding $0.45 and breaking into a rising parallel channel. The Relative Strength Index (RSI) cooled to 55.3 after an overbought spike, suggesting room for consolidation before another move. Supertrend flipped bullish at $0.51 with Fibonacci targets pointing to $0.74 and $0.85. Arbitrum’s price bounced back from weeks of bearish pressure, retaking key technical levels and turning market sentiment in its favor. Having briefly reached the value of $0.61, the token is currently trading at around $0.588 and must now surpass the crucial psychological barrier of $0.60 to keep momentum. The on-chain activity is moderate with moderate exchange outflows of $0.77 million, indicating accumulation pressure exists. In combination with technical reversals, Arbitrum now has potential for medium-term gains even though short-term volatility is possible.