Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

$ 10 million bitcoin? Investment Pro calls it ‘chance’ of your life

2025-05-18

Hedera Hashgraph (HBAR) Price forecast before 19 May

2025-05-18

Jesse Pollak explains how Pectra Upgrade will overload the basic network

2025-05-18
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Jesse Pollak explains how Pectra Upgrade will overload the basic network

    2025-05-18

    Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate Web3 AI-Game Development

    2025-05-18

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18

    Declan Hannon about how Aurora Labs makes blockchain accessible to everyone

    2025-05-18

    Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

    2025-05-18
  • NFT

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16

    Founder wallet emptied while he leaves

    2025-05-15

    British Museum puts sculptures from Dürer’s ‘Rhinoceros’ on Bitcoin Blockchain

    2025-05-14
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»Arbitrum forms a bullish pattern, but a decline is still likely. This is why
Altcoins

Arbitrum forms a bullish pattern, but a decline is still likely. This is why

2024-10-07No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • Arbitrum is trading within an ascending triangle pattern with strong resistance at $0.62.
  • A decline in DeFi activity and whale inactivity could keep prices trading within a certain range.

Arbitration [ARB] tracked the performance of the broader cryptocurrency market after rising slightly by 1.2% in the past 24 hours as the global market capitalization moved higher.

ARB was trading at $0.558 at the time of writing. Over the past seven days, Arbitrum has traded between $0.54 and $0.57 in the absence of volatility.

The altcoin formed an ascending triangle on the one-day chart, with the price encountering strong resistance at $0.62 despite a series of higher lows having formed.

This pattern is often bullish, indicating that buyers are slowly gaining momentum.

Source: TradingView

However, momentum is weak, suggesting that ARB could once again encounter resistance at $0.62 if buyers do not intervene.

The Relative Strength Index (RSI) line is below the signal line, indicating that bearish momentum is in play. Moreover, the RSI at 47 shows that the sellers are still in control.

The Chaikin Money Flow (CMF) is still positive, but tilting south. This suggests that buying activity is not strong, and if sellers take control, the ARB could fall to test support at $0.48.

Besides a lack of buyers, several other factors could influence Arbitrum’s upward trend.

Whale inactivity

Data from IntoTheBlock showed a drastic drop in large transactions. The number of large transactions has fallen from a weekly high of above 200 to below 50 transactions.

The large transaction volumes have also fallen from 342 million to 93 million.

Source: IntoTheBlock

Whales typically play a key role in driving up prices, as large buy or sell orders can influence price movements. Therefore, when these large addresses are inactive, it can cause range-bound trading.

See also  Ethereum Triggers Correction Toward $1,900 – Will Bulls Support ETH Price Further?

DeFi activity is declining

Data from DeFiLlama shows that decentralized finance (DeFi) volumes on Arbitrum have fallen significantly over the past week.

At the start of the month, DeFi volumes on Arbitrum stood at $813 million, but this metric has since fallen to $279 million.

Source: DeFiLlama

DeFi inactivity indicates declining network usage. This signals weakening confidence in Arbitrum, which could lead to further sell-offs.

Analysis of Arbitrum’s liquidity heatmap

Arbitrum’s liquidity heatmap shows a cluster of liquidations below the price, while the same is missing above the price. This liquidation heatmap shows bearish sentiment with short positions outweighing long positions.

Source: Coinglass

A cluster of liquidation levels below the price could create buying pressure as short sellers are forced to close their positions as the price rises.

However, bearish sentiment on Arbitrum remained strong, which could hinder buying activity.


Read Arbitrums [ARB] Price forecast 2024–2025


According to InTheBlokthe portfolios out of money (in losses) were at 91% at the time of writing, while only 5% made gains.

If loss-making wallets do not break even for an extended period of time, they may choose to close their positions to minimize losses.

Next: Dogecoin History May Be Repeating Itself – Time for DOGE to Climb?

Source link

Arbitrum Bullish decline Forms pattern
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Hedera Hashgraph (HBAR) Price forecast before 19 May

2025-05-18

Ethereum vs. S&P 500: Despite winning, ETH traders cash in – why?

2025-05-18

Solana Price has $ 166 support after rejection of $ 183, breakout above $ 177 very important

2025-05-18

Next Generation AI backbone: Oraichain, Pinlink and RSS3’s Synergetic Roles

2025-05-18
Add A Comment

Comments are closed.

Top Posts

Crypto analyst predicts XRP price to reach $0.66 this week

2023-10-03

Are NFTs back? Vitalik Buterin Mints 400 PatronNFT based

2024-11-19

Bitcoin Reaches $76,849 ATH Amid Another Fed Rate Cut: Future Predictions?

2024-11-08
Editors Picks

Reddit’s “Secret Sauce” for a successful NFT rollout

2023-05-31

New Memecoin ‘Bald’ Already Dubbed a “Rug Pull”

2023-08-01

This is why a green September close is important for the Bitcoin price

2024-09-20

Top Crypto Exchange Binance to Close Visa Debit Card Program in Europe

2023-10-21
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

$ 10 million bitcoin? Investment Pro calls it ‘chance’ of your life

Hedera Hashgraph (HBAR) Price forecast before 19 May

Jesse Pollak explains how Pectra Upgrade will overload the basic network

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,371.750.06%
  • ethereumEthereum(ETH)$2,390.97-3.57%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.35-0.44%
  • binancecoinBNB(BNB)$639.09-0.57%
  • solanaSolana(SOL)$165.37-0.99%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2195171.66%
  • cardanoCardano(ADA)$0.73-1.46%
  • tronTRON(TRX)$0.262820-3.33%
  • suiSui(SUI)$3.760.27%
  • chainlinkChainlink(LINK)$15.17-1.38%
  • avalanche-2Avalanche(AVAX)$21.91-1.45%
  • stellarStellar(XLM)$0.281632-1.73%
  • hyperliquidHyperliquid(HYPE)$25.86-2.27%
  • shiba-inuShiba Inu(SHIB)$0.0000140.34%
  • hedera-hashgraphHedera(HBAR)$0.189595-0.96%
  • unus-sed-leoUNUS SED LEO(LEO)$8.650.32%
  • bitcoin-cashBitcoin Cash(BCH)$391.97-1.09%
  • the-open-networkToncoin(TON)$3.05-0.53%
  • litecoinLitecoin(LTC)$97.100.67%
  • polkadotPolkadot(DOT)$4.56-1.18%
  • moneroMonero(XMR)$342.200.83%
  • bitget-tokenBitget Token(BGB)$5.111.55%
  • pepePepe(PEPE)$0.0000135.36%
  • daiDai(DAI)$1.00-0.01%
  • piPi(PI)$0.73-0.12%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$5.770.44%
  • bittensorBittensor(TAO)$404.59-4.40%
  • aaveAave(AAVE)$217.94-1.15%
  • nearNEAR Protocol(NEAR)$2.700.29%
  • okbOKB(OKB)$52.17-1.81%
  • aptosAptos(APT)$4.95-2.31%
  • ondo-financeOndo(ONDO)$0.91-0.98%
  • kaspaKaspa(KAS)$0.108483-0.44%
  • internet-computerInternet Computer(ICP)$5.09-1.24%
  • ethereum-classicEthereum Classic(ETC)$17.80-1.81%
  • gatechain-tokenGateToken(GT)$21.50-0.61%
  • crypto-com-chainCronos(CRO)$0.096212-1.03%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.780.73%
  • mantleMantle(MNT)$0.730.55%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232036-0.32%
  • vechainVeChain(VET)$0.027607-0.45%
  • render-tokenRender(RENDER)$4.48-1.31%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • ethenaEthena(ENA)$0.3650320.89%
  • algorandAlgorand(ALGO)$0.2171280.72%
  • filecoinFilecoin(FIL)$2.78-0.43%
  • cosmosCosmos(ATOM)$4.720.10%
  • bitcoinBitcoin(BTC)$103,371.750.06%
  • ethereumEthereum(ETH)$2,390.97-3.57%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.35-0.44%
  • binancecoinBNB(BNB)$639.09-0.57%
  • solanaSolana(SOL)$165.37-0.99%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2195171.66%
  • cardanoCardano(ADA)$0.73-1.46%
  • tronTRON(TRX)$0.262820-3.33%
  • suiSui(SUI)$3.760.27%
  • chainlinkChainlink(LINK)$15.17-1.38%
  • avalanche-2Avalanche(AVAX)$21.91-1.45%
  • stellarStellar(XLM)$0.281632-1.73%
  • hyperliquidHyperliquid(HYPE)$25.86-2.27%
  • shiba-inuShiba Inu(SHIB)$0.0000140.34%
  • hedera-hashgraphHedera(HBAR)$0.189595-0.96%
  • unus-sed-leoUNUS SED LEO(LEO)$8.650.32%
  • bitcoin-cashBitcoin Cash(BCH)$391.97-1.09%
  • the-open-networkToncoin(TON)$3.05-0.53%
  • litecoinLitecoin(LTC)$97.100.67%
  • polkadotPolkadot(DOT)$4.56-1.18%
  • moneroMonero(XMR)$342.200.83%
  • bitget-tokenBitget Token(BGB)$5.111.55%
  • pepePepe(PEPE)$0.0000135.36%
  • daiDai(DAI)$1.00-0.01%
  • piPi(PI)$0.73-0.12%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$5.770.44%
  • bittensorBittensor(TAO)$404.59-4.40%
  • aaveAave(AAVE)$217.94-1.15%
  • nearNEAR Protocol(NEAR)$2.700.29%
  • okbOKB(OKB)$52.17-1.81%
  • aptosAptos(APT)$4.95-2.31%
  • ondo-financeOndo(ONDO)$0.91-0.98%
  • kaspaKaspa(KAS)$0.108483-0.44%
  • internet-computerInternet Computer(ICP)$5.09-1.24%
  • ethereum-classicEthereum Classic(ETC)$17.80-1.81%
  • gatechain-tokenGateToken(GT)$21.50-0.61%
  • crypto-com-chainCronos(CRO)$0.096212-1.03%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.780.73%
  • mantleMantle(MNT)$0.730.55%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232036-0.32%
  • vechainVeChain(VET)$0.027607-0.45%
  • render-tokenRender(RENDER)$4.48-1.31%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • ethenaEthena(ENA)$0.3650320.89%
  • algorandAlgorand(ALGO)$0.2171280.72%
  • filecoinFilecoin(FIL)$2.78-0.43%
  • cosmosCosmos(ATOM)$4.720.10%