Arbitrum Holds Key Support at 0.328 Price Targeting Move Toward $0.3928

Key Insights

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  ARB defends $0.328 support while range-trading between $0.32 and $0.35.
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  Trading volume hits $170M, with inflows and network usage gaining strength.
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  Transaction activity ranges from 2.1M to 4.3M daily in October, boosting adoption metrics.

Arbitrum ($ARB) is holding a support level, with traders watching for a move toward $0.392. Technical analysts note that liquidity at the $0.32 level presents a potential opportunity for long positions if the price rebounds.

Price Holding Within Range as Buyers Watch for Breakout

Arbitrum ($ARB) is currently holding support around the $0.328 level, which has acted as a key zone in recent days. The price recently tested the upper boundary of its range at $0.35 but did not sustain momentum above that level. Analysts note that the current setup reflects a range-bound trading pattern between $0.32 and $0.35.

According to Lennaert Snyder, $ARB is trading perfectly within the range, and the $0.328 support level remains essential. He also pointed out that liquidity near $0.32 is favorable for long-term after reversals, suggesting that traders may look to accumulate if that level holds. If the $0.328 support level holds, traders may begin positioning for a move toward the $0.392 resistance area.

Trading Volume and Inflows Continue to Support Activity

The current range, between $0.32 and $0.35, continues to define the price movement. Arbitrum's daily trading volume remains strong, standing at over $170 million in the past 24 hours. This level of activity reflects consistent market interest despite the 3.17% drop over the same period.

Large inflows into Arbitrum have been recorded in the last three months. Rand noted HUGE inflows in $ARB, which signal ongoing capital movement into the asset. Such volume and flow data often support more decisive price action when paired with technical support levels.

Ecosystem Usage Shows Strong Adoption Trends

Meanwhile, the Arbitrum network has seen strong usage in October. Transaction counts varied from 2.1 million on quieter days to as high as 4.3 million on busier days. This shows steady demand across different periods of market activity.

Commenting on this growth, Shuarix noted that momentum is real, mentioning that Arbitrum continues to rank among the top Layer 2 networks. This is supported by the number of active users and projects that are operating within its ecosystem.