Arbitrum (ARB) Whales Are Selling Fast: Big Price Correction Ahead?
Arbitrum's price nears $1 support following large sell-offs from bearish whales that could trigger more downside for ARB....
- The Arbitrum (ARB) price has retraced towards $1 after failing to reclaim the $1.25 territory.
- On-chain analysis reveals that a large crypto whale has been selling millions of ARB tokens at a loss.
- This bearish signal from the whale, along with declining retail demand for Arbitrum, suggests a potential struggle for the token to hold the $1 support level.
- The Global In/Out of the Money (GIOM) data indicates that if the bears can break down the initial support buy wall at $1, the price could drop towards $0.80.
The sentiment in the article is mostly bearish, as it highlights the selling activity of crypto whales and declining retail demand for Arbitrum, suggesting a potential further price decline.