Arbitrum among top gainers with 9%: Here’s the ARB price outlook

• Arbitrum ($ARB) price rose 9% this past week, trading to above $0.86.
• Meanwhile, Toncoin ($TON), Chainlink ($LINK) and Aave ($AAVE) saw double digit gains.
• What next for $ARB?

Arbitrum ($ARB) is trading higher over the 24-hour timeframe, holding off bears around $0.84 with nearly 3% upside. Over the week, the cryptocurrency’s value is up 9%. That makes $ARB among the top gainers this past week, with Toncoin ($TON), Chainlink ($LINK), ImmutableX (IMX) and Aave ($AAVE) posting double digit gains to lead the top 50 coins by market cap.

With Bitcoin looking to reclaim some joy above $26,600 and most altcoins showing resilience, could $ARB break higher to target $1.00? Data shows the altcoin last traded at the psychological level on August 23.

Whale activity and recent $ARB price

Arbitrum’s native token slipped to $0.74 on September 11, mirroring the broader market performance that also had Bitcoin sliding to below $25k. A nice uptick for $ARB/USD had buyers poised at $0.90 on September 19 before widespread weakness had them revisit support around $0.80.

The positive outlook shows amid the latest bullish signals from whale activity and the crowd. According to data shared by on-chain analytics platform Lookonchain, one whale pointed to this perspective on Thursday with a 1.15 million $ARB transfer from Binance. The value of the transaction was $952,000 at the time.

“This whale lost money on $ARB but seems still very bullish on $ARB, withdrawing 1.15M $ARB ($952K) again from #Binance in the past 2 days. The whale was long $ARB on #Aave on July 23, and as the price of $ARB decreased, he had to sell $ARB at a loss to pay off debt on Sept 11,” Lookonchain posted on X.

If $ARB breaks past the channel’s middle line (also where a key horizontal support-turned resistance line resides), at $0.87, bulls might target the supply zone above September highs. A demand reload zone could be around $0.74.