Arbitrum's price is on the verge of breaking through key resistance levels, thanks to growing investor support. Recent price fluctuations hint at a potential surge in ARB's value soon. With a strong correlation with Bitcoin, similar market movements could be on the horizon.

Arbitrum's price outlook appears promising, with a potential rise to $1.21 on the cards. Investor support is crucial for this upward trend to continue. Despite recent declines and volatility, a price increase could be imminent. The Market Value to Realized Value (MVRV) Ratio suggests that Arbitrum is currently undervalued, presenting an accumulation opportunity. Historically, ARB price rises have occurred within the -12% to -25% MVRV range, making this a prime time for investors to accumulate.

Bitcoin's price movements could also impact Arbitrum's price, given their strong correlation. As Bitcoin reclaims the $65,000 support level, a similar movement could be seen in Arbitrum, paving the way for a potential price increase. If Arbitrum's price confirms the $1 level as support, it could rise to $1.10 and $1.21, converting these resistance levels into support. However, a decline could see the price fall below $0.99 and potentially lower levels.