Arbitrum price readies to explode 12% if Ethereum nicks $4,000

Arbitrum price is poised to experience a significant surge of 12% if Ethereum reaches the $4,000 mark. Currently, ARB has already increased by around 50% from its yearly lows and is expected to continue rising as Ethereum’s price influences it. If ARB manages to surpass the resistance level at $2.2017, it could potentially reach the peak of $2.4250, a level not seen since January 11. In a best-case scenario, the price could even surpass this range and rise to the psychological level of $2.6000. The ascending RSI and bullish volume indicators further support the positive outlook for Arbitrum price. On-chain metrics, such as decreasing social dominance and volume, increasing daily active addresses, and whale transaction count, also contribute to the bullish sentiment. However, it is important to note that if traders decide to sell their gains, ARB’s price could decline, potentially breaking below the support levels and invalidating the current bullish thesis.