One factor keeping Arbitrum’s price on the downside is rising selling pressure. For months, the token failed to attract significant demand, leading to lower market value.
However, according to IntoTheBlock, ARB could be on the verge of a bullish reversal. This is because of the swift change in the holding time of transacted coins.
As the name suggests, coin holding time measures the period a cryptocurrency has been held without being transacted or sold. A decrease in this metric indicates that holders have sold a significant portion of the cryptocurrency.
On the other hand, an increase in the holding time suggests that holders are keeping their assets, potentially anticipating further price gains.
As seen below, the ARB holding time has spiked, indicating that selling pressure around the token is fading.
In line with the surge in holding time, Santiment data also highlights an increase in Arbitrum’s social dominance.
Social dominance measures the level of discussion around a cryptocurrency about other assets within the top 100.
The higher the social dominance, the more conversations are centered around that asset. Conversely, lower social dominance indicates less attention from the market.
ARB’s social dominance has risen to 0.80% as of this writing. If this trend continues, it will indicate growing interest and demand for ARB, positively affecting its price.
On the technical side, the ARB price has formed a falling wedge on the daily chart. A falling wedge is a bullish pattern formed by drawing two descending trend lines.
One of the trendlines connecting the lower highs while the other links the lower lows. Typically, this pattern signals a potential bullish reversal, indicating a narrowing price range followed by an upward breakout.
With this already in place for ARB’s price, the token could jump toward the 0.786 Fibonacci level. If validated, this would place ARB’s price at $1.07.
Should buying pressure also increase, the altcoin could hit $1.24.
However, if the price breaks below $0.65, this forecast might not pass. Instead, ARB’s price could move closer to its all-time low.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
