Arbitrum (ARB) token price drops 24% over the last month

The Arbitrum (ARB) token has experienced a significant decline, falling approximately 24% over the last 30 days. This drop outpaced the performance of major cryptocurrencies like ether, which fell about 13%, and Bitcoin, which declined by roughly 5% during the same period.

As of late October, ARB reached a four-week low of approximately $0.16. This price movement represents a substantial correction, erasing about half of the rally that saw the token rise from $0.07 to $0.26. Technical indicators show the token has broken below its 50-day simple moving average and its rising trendline, shifting the $0.19 level from a support zone to a primary resistance point.

Despite the price volatility, network activity on Arbitrum One showed growth. Daily active addresses climbed to 563,669 on October 23, up from 95,545 on September 26.