Arbitrum (ARB), a layer two solution on the Ethereum blockchain, has reached an all-time high of $5 billion in total value locked (TVL). This milestone is a result of growing investor interest and confidence in Ethereum's layer two solutions. The project's prospects are looking positive as it breaks out of a long-term consolidation period and forms a golden cross on its technical charts. However, ARB faces a crucial resistance level at $1.2, which will define its short-term direction. Despite a recent drop in price, the Relative Strength Index (RSI) suggests a strong bullish sentiment in the short term. Arbitrum's daily active addresses currently stand at 22,500, indicating consistent platform use with potential for further growth. Additionally, analysts believe ARB may be undervalued compared to other altcoins and could potentially grow by 125% by 2024. Institutional interest and Ethereum's work on interoperability are seen as positive factors for ARB's future performance.



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