Arbitrum (ARB) rose by 5.28% on Sunday, October 11. Bitcoin on the same day gained 0.95%, climbing from $82,988 to $83,773. This modest increase helped the capitalization of altcoins grow by 1% to reach $1.12 trillion.
ARB had been moving upwards before, gaining 21.34% from the low of $0.162 set on October 8. Second-layer tokens have been rising strongly in recent days, according to Glassnode, outperforming Bitcoin and other major sectors. As a second-layer token, ARB is partly driven by the influx of capital into the sector. Over the past two weeks, the overall market correction has affected sentiment in the altcoin segment, but price behavior shows why Arbitrum remains a bullish altcoin. On the daily chart, the swing structure turned bullish in early September when the May high of $0.1495 was broken. After a pullback to $0.131, the trend continued: amid growing network activity and accelerating revenue, the price reached a new high of $0.255, maintaining a bullish structure. The price then pulled back again to the demand zone around $0.16 and reacted positively. There was some concern that the CMF on the daily chart was below −0.05, and trading volume had noticeably decreased over the past six weeks. Nevertheless, structurally ARB maintains a bullish bias.
The swing structure on the hourly chart was bearish. Buyers might wait for a breakout above $0.211 and a pullback below $0.186 for entry, although such a clear opportunity may not present itself, especially if Bitcoin's correction to $80.3K has concluded. The 0.183–0.186 zone is an imbalance on the daily chart and a local demand and supply zone. A retest of this area could provide a swing-buy opportunity with targets of $0.255 and $0.285. The idea will be invalidated if ARB drops below $0.162.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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