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Arbitrum: Decoding what ARB needs to trigger a bull run
Recent market trends have sparked concern among investors regarding the possibility of an imminent bearish trend in Arbitrum (ARB). However, if we look at the recent whale accumulation and rising address activity, it seems that there is still hope for a rally. In this article, we will explore what ARB needs to do to trigger a bull run.
It has been observed over the past week that whales have accumulated more than 40 million ARB tokens, a significant increase in interest from key market players. This whale activity could be an indication of increased confidence in ARB’s long-term potential and further price appreciation.
In addition to this accumulation trend, address statistics are also highlighting growing user engagement. The data shows a rise of 3.29% in new addresses over the past seven days and a staggering increase of 7.84% in active addresses. This aligns with the whale activity, suggesting that both institutional and retail investors are exhibiting increased interest.
On the other hand, it is crucial for ARB to overcome critical resistance near $1.2409 to spark a sustained rally. Without this breakout, the accumulation phase may remain neutral.
Source: ambcrypto.com
