• ARB shows key support at $1.04, with resistance at $1.06 hindering upward momentum.
• Increased 24-hour trading volume suggests active market participation and volatility.
• RSI nearing overbought levels and MACD signals potential short-term downward pressure.

Arbitrum (ARB) has been volatile lately, but also shows some steady movement. Of note, is a wallet linked to the Arbitrum team that sent 20 million ARB tokens, worth $20.85 million, to Coinbase at an average price of $1.04. 

Onchain Lens data shows that over the past year, this wallet moved a total of 250 million ARB tokens, worth $244.43 million, to the same exchange. ARB trades now at $1.05, down 1.26% over the last 24 hours. Let’s take a closer look at the price trends and market indicators.