ARB recently broke below a key support level that it had held multiple times since March, indicating a weakening price structure. Amidst overall pressure in the crypto market, ARB has become yet another altcoin to fall below a significant price level, and market attention is now shifting to whether the next demand zone will emerge.
It broke below the $0.86 support level.
The area around $0.86 had previously been a crucial support level for the bulls and a key reference point for the market to assess the strength or weakness of a given period. The fact that this level has now been broken signifies that the support structure that had lasted for nearly three months has weakened.
From a technical perspective, the ARB is currently trading below a key moving average, indicating that short-term momentum remains weak. If prices fail to recover lost ground quickly, cautious sentiment may continue to dominate trading.
Large transactions have increased significantly.
As prices weakened, large on-chain transactions began to increase significantly. This usually indicates that whale accounts are accelerating portfolio adjustments, but it is not yet possible to confirm whether these funds are being accumulated at low prices or are continuing to shift positions during market volatility.
- Trading volume rose to 122 million in the past 24 hours.
- The daily trading volume increased by approximately 23%.
- The key support level is around $0.86.
The rebound in trading activity indicates that funds are re-entering the market, but increased trading volume alone is not enough to reverse the current bearish trend.
Long positions account for approximately 70%
Despite downward pressure on spot prices, long positions remain dominant in the derivatives market. Data shows that long positions currently account for approximately 70% of total exposure, indicating that a significant number of traders are still betting on a price rebound.
However, this does not mean the trend has reversed. If prices continue to decline and buying interest fails to provide effective support, long positions may actually amplify subsequent volatility. For the bulls, the next key step is whether they can regain control of the previously breached support zone.
