ARB is up 32.2% today, moving with COTI as the Layer 2 sector runs as a group.
ARB trades at $0.2208. Open interest rose 39% over the past 24 hours and volume ran 2.2 times its 7 day average, with no news behind the move. That puts it just under its 30 day high of $0.2295.
Rising open interest alongside a move this size usually means new positions opening, not just shorts closing out. If ARB clears $0.2295, that is a fresh 30 day high. If it stalls there and turns back down, this reads as a sector pop that ran into resistance rather than a lasting shift in Layer 2 demand.
What would make this wrong: If open interest starts dropping while price holds up, the move was mostly leverage unwinding rather than fresh demand, and this read is wrong.
Did you catch the Layer 2 move in ARB and COTI, or miss it entirely?
Not advice.
Follow for the levels that matter, every day.
$ARB
#TradingPsychology #Crypto #CreviaCockpit | creviacockpit.com/lessons?s=square
ARB trades at $0.2208. Open interest rose 39% over the past 24 hours and volume ran 2.2 times its 7 day average, with no news behind the move. That puts it just under its 30 day high of $0.2295.
Rising open interest alongside a move this size usually means new positions opening, not just shorts closing out. If ARB clears $0.2295, that is a fresh 30 day high. If it stalls there and turns back down, this reads as a sector pop that ran into resistance rather than a lasting shift in Layer 2 demand.
What would make this wrong: If open interest starts dropping while price holds up, the move was mostly leverage unwinding rather than fresh demand, and this read is wrong.
Did you catch the Layer 2 move in ARB and COTI, or miss it entirely?
Not advice.
Follow for the levels that matter, every day.
$ARB
#TradingPsychology #Crypto #CreviaCockpit | creviacockpit.com/lessons?s=square
