Arbitrum [ARB] rallied 17.2% over 24 hours at press time, accompanied by a 220% spike in daily trading volume and a 32.5% increase in Open Interest, according to Coinalyze data.
The gains followed a Standard Chartered report forecasting Arbitrum to reach $10 by 2030, representing roughly 70 times the token's then-current market value. Standard Chartered characterized Arbitrum as the "blockchain for TradFi."
Revenue growth drives the bullish case
Standard Chartered based its forecast partly on revenue from the Arbitrum Expansion Program (AEP), which collects a 10% fee when other chains settle transactions using the Arbitrum stack. The bank calculated Arbitrum's September revenue at approximately $5 million, a fivefold increase from before Robinhood Chain's launch as the largest AEP participant.
Other revenue factors cited included treasury management returns, Arbitrum One transaction fees, and Timeboost express-lane auctions.
Technical price levels
ARB's technical structure turned bullish in July when the downtrend swing point at $0.09 was breached, establishing higher lows and higher highs. The token subsequently cleared the $0.1495 weekly swing point.
Following a September retracement from $0.20 to $0.13, Arbitrum defended the 61.8% Fibonacci retracement level at $0.13 and began testing the $0.15 level. Technical indicators including the Chaikin Money Flow and MACD reflected recovering bullish momentum at the time of reporting.
If upward pressure persists, the next technical target would be the extension level at $0.2357 in the coming weeks, with a potential rally toward $0.20 and $0.23 possible if the $0.15 resistance is overcome.
