ARB's Price Volatility Continues as Support Shelf Holds
ARB is trading at $0.21, holding a critical support shelf of $0.19 after a 10% flush following a 134% monthly surge. The token's price skyrocketed in September, with Standard Chartered's Geoff Kendrick labeling Arbitrum 'hugely undervalued' and setting a target of $0.50 by the end of 2026.
The rally was fueled by Robinhood Chain's narrative, with monthly network revenue hitting $5 million, roughly five times pre-launch levels. However, yesterday's -10.31% session wiped out some of the gains, leaving early buyers from the June bottom sitting on 200%-plus gains.
The question is whether the rally is done or just resting. The broader macro context adds texture to the situation, with regulatory ambiguity remaining an overhang across the entire Layer-2 space. ARB's governance token status makes it particularly exposed to any risk-off shift in crypto sentiment.