The post Arbitrum (ARB) May Continue Bullish Trend Amid Rising Netflow and Easing Selling Pressure appeared on BitcoinEthereumNews.com.

Arbitrum’s (ARB) recent performance indicates a growing bullish sentiment, positioning the coin for potential substantial gains ahead. As highlighted by recent trading activities, ARB has surpassed its short-term resistance levels, creating optimism among investors. According to COINOTAG, “this upward trend could persist as market participants’ actions continue to support the bullish momentum.” Explore how Arbitrum (ARB) is gaining momentum in the crypto market, with rising netflow and market accumulation fueling bullish sentiment. Chain Netflow Signals Accumulation Trend for ARB Current data reveals that Arbitrum’s netflow has surged, marking a pivotal moment for the altcoin. At the latest update, ARB showcased the highest chain netflow over the past 24 hours compared to industry giants like Ethereum and Solana, with an impressive total of $42.6 million in net inflows. This metric—chain netflow—represents the difference between the inflow and outflow of assets, providing insights into trading behavior and user engagement. Positive netflow suggests a strong interest in accumulation, which can foreshadow future price increases for ARB. Source: Artemis Further insights indicate a robust accumulation strategy among investors, suggesting ARB’s bullish trajectory may continue, driven by favorable market conditions. Shifting Dynamics in Selling Pressure for ARB After witnessing four consecutive days of positive exchange netflow totaling $17.04 million, a notable shift has emerged in selling dynamics. Recent data shows that during the last 48 hours, negative netflow transactions have surfaced, totaling $1.66 million, indicating that many are choosing to hold rather than sell. The decline in large-holder transaction volume is also significant, with a report showing a drop from 706 to just 206 large-holder transactions. This retrenchment from whales suggests a strategic pivot towards retention of ARB holdings, a behavior that can stabilize and support an upward movement in prices. Source: Coinglass Resistance Levels: ARB Faces $0.983 Challenge As ARB continues its upward trend,…

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Filed under: News - @ December 1, 2024 5:20 am