ARB Dropped By 7% In Last One Year, Will A Bullish Trend Come So

Arbitrum has a market cap of $3.23 Billion and is ranked 32nd in the cryptoverse. The volume of the ARB has seen a drop of 10% in the intraday session. The VM ratio of the ARB token is 0.1 suggesting a consolidation in price. The token price is currently trading near $1.15 with a slight gain in the intraday session.
The asset price is forming a consolidating range of candles on the daily chart. It is trading below the 50 and 100 EMA. The upside momentum of price can see a halt near $1.35. Meanwhile the support price for ARB can be seen near $1
The RSI of ARB token is near 51 with no slope in it. The overall sentiment of the RSI is neutral in nature.