Recent data shows that Arbitrum’s network activity has surged, with dApp volumes rising by 121%. Whale activity increased with 10 million ARB tokens accumulated, indicating a potential bullish trend despite 80% of holders being currently at a loss.
The Average Directional Index indicates weakening bearish sentiment, suggesting a potential price recovery for ARB if buying momentum continues as whale accumulation persists. Nevertheless, a crucial support level lies at 0.68 USD, underscoring the importance of maintaining this threshold for a sustained uptrend.