"ARB rises against the trend!!! Breaking through $1.5, what is the next move of whales?"
ARB is trading within a classic cup-and-handle pattern, a bullish pattern that usually indicates that the price is expected to rise sharply. However, ARB may experience some correction in the short term and is expected to drop to the demand zone between $0.74 and $0.659. This area is crucial for ARB, and once the price touches this area and is supported, a strong rebound is expected to begin, pushing the price towards $1.5.
According to IOMAP data, ARB's demand zone overlaps with the "In the Money" area, which means that ARB held by a large number of addresses is in a profitable state, which is expected to become a strong support. And the current market sentiment also shows that the power of bearish whales is pushing the price lower, pushing it into the demand zone. Data from the derivatives market shows that the funding rate has risen, indicating that bulls are still dominant and the sentiment is bullish.
Although ARB is currently facing some adjustment pressure, this may only be a necessary correction before the rise. Once the support is confirmed, ARB will usher in new upward momentum. Want to grasp the market dynamics at the first time? Don't forget to follow Jiaoshou, he will help you seize every opportunity!
