Eparavisini

Arbitrum has been one of the main layer two networks that support the wider ecosystem. In the last day the token rose more than eleven percent as the whole market also saw a strong rebound. This rise came at a time when the token looked like it was forming a bottom while activity on the network kept rising. These two factors gave traders hope that the move could continue if demand stays steady.

The short term chart showed that the token may be forming a double bottom pattern. After falling to nineteen cents the price bounced back to twenty four cents. But twenty four cents is a strong level and traders see it as a neckline. A clean break above this level is needed for a stronger trend to start. Momentum also improved as the main indicator moved out of a weak region. It climbed into positive territory but the rise was still softer than what other tokens showed. Money flows also improved but buyers had not fully taken control as the main flow index was still in a light negative zone.

If the token breaks above twenty four cents it can move toward thirty one cents. This move will depend on demand staying strong and the wider trend staying stable. In terms of real use the network is showing very strong signs. Activity on the chain grew more than one hundred percent in the last week. The number of active users crossed two million which was a sharp rise. This was one of the strongest growth numbers among chains that work with smart contracts.

The rise in activity also matched a rise in developer work on the chain. Developer activity climbed to a three month high which usually points to growing interest from builders. More activity also pushed trading volume up across apps that run on the network. More than nine hundred apps are active here and together they saw more than one point two billion in daily volume. This shows that people are using the chain for real work and not only for trading the token.

The total value locked on the chain stayed stable and rose by around seven percent this month. It moved to more than six point five billion which shows steady trust from users and projects. The perpetual futures volume and decentralized exchange volume stayed flat in the past day but both had seen sharp rises in past weeks which means traders are active even if short term numbers paused.

At this stage traders are watching the twenty four cent level closely. A break above it can open the path for a move toward higher levels. If the token fails to move past it the price may stay in the same range for some time. The network numbers look strong and the recent rebound shows clear interest but the next move depends fully on how the price behaves near this key level.
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