The cryptocurrency market has experienced a recent downturn, with attention turning towards Arbitrum (ARB). As Bitcoin and Ethereum reached all-time highs, investors are now closely watching ARB's performance. So, what's the current value of Arbitrum, and what might the future hold?

Investors are eyeing Arbitrum, which boasts a market capitalization exceeding $3.8 billion and a circulating supply of 2,653,939,384 ARB. Concerns arose as it dipped below the 100-day Moving Average (MA) recently, but there are signs of optimism emerging in its price.

At present, Arbitrum is trading at around $1.45, marking a 1% increase over the past 24 hours. However, notable resistance lies ahead at $1.799 and $2.278.

Analysis of technical indicators reveals promising trends for ARB. The 4-hour RSI indicator is inching towards the 50 level, moving out of the oversold territory, hinting at a potential price surge and a new trend.

Similarly, the 4-hour MACD indicator shows positive momentum. Both the MACD and signal lines, previously below the MACD zero line, are approaching it. With the MACD histogram already above the zero line, an upward movement seems likely.

Furthermore, the 1-hour bull and bear power histogram indicates that buyers are gaining control. With histograms above the zero level, buyers are strengthening, suggesting a potential price rise.

Should Arbitrum's price pivot upwards, it could challenge previous resistance levels at $1.799 and $2.278. However, failure to do so could result in a downward movement, possibly dropping to the $1 level.

In conclusion, Arbitrum's current market performance attracts investor attention, with indicators signaling potential price growth ahead.