Arbitrum (ARB) has generated bullish sentiment with its recent performance, which is creating significant earning opportunities for the coin.
In light of the recent trading activities, ARB has managed to break above the short-term resistance levels, creating a positive mood among investors.
“This uptrend could continue to support bullish momentum with market participants’ actions,” according to COINOTAG.
Discover how Arbitrum is gaining momentum; rising net flows and market accumulation are reinforcing bullish sentiment.
Current data suggests that Arbitrum’s net flow is accelerating, marking a significant milestone for the altcoin. According to the latest update, ARB has seen the highest on-chain net flow over the past 24 hours, bringing in a total net inflow of $42.6 million, compared to industry leaders like Ethereum and Solana.
This on-chain net flow metric measures the difference between asset inflows and outflows and provides important information about trading behavior and user engagement. Positive net flow indicates strong interest in accumulation, which could be a signal that could trigger ARB price increases. It is also reported that a strong accumulation strategy is being implemented among investors, which indicates that ARB could continue its bull run.
After observing positive stock market net flow over the past four days, there was a total change of $17.04 million, but the shift in selling pressure is also notable. The new data shows that there was a total of $1.66 million in negative net flow transactions over the past 48 hours, suggesting that many investors are choosing to wait rather than sell.
A decrease in the trading volume of large investors was observed. According to a report, the number of large investor transactions decreased from 706 to only 206. The shift of these whale investors to the strategy of holding ARB assets shows that they tend to stabilize and support the upward movement of prices.
As ARB continues its upward move, it is likely to encounter significant resistance in the critical supply zone defined by the In/Out of the Money Around Price (IOMAP) metric, which is between $0.96 and $0.98, where there is selling pressure of approximately 69.5 million ARB. This highlights the challenges ahead for ARB.
If ARB manages to break above the $0.983 resistance, it could open the door for a rally towards $2.4, where there is strong liquidity, indicating significant upside potential for the asset.