Arbitrum's Price Surges on Upgrade Activation

Arbitrum's ARB token saw an 11.3% price surge after the successful activation of its ArbOS 61 Elara upgrade on both Arbitrum One and Arbitrum Nova networks. The upgrade introduced compliance controls, improved fee management, and increased Stylus contract capacity.

The upgrade-driven buying interest and sharply rising trading volumes offset concerns over an ongoing inflationary token supply trend. Despite remaining below its 200-day average, ARB's price has been driven above short- and medium-term averages in an overbought state.

According to technical analysis, the forecast range for ARB/USD is between $0.088 and $0.1105 for the next five days, with key levels at $0.0976 as ceiling and $0.0913 as floor.