Arbitrum Gains 1.87% as Binance Futures Open Interest Climbs 5.89%

Arbitrum (ARB) rose 1.87% over 24 hours to $0.16 at 4:53 a.m. ET (09:53 UTC) Thursday. Binance futures open interest rose 5.89% over 24 hours.

The increase in open interest indicated more futures positioning, but did not show which direction traders favored. Funding was positive at 0.0043% per eight-hour settlement, meaning long-position holders paid short-position holders.

In a one-hour sample at 2 a.m. ET (07:00 UTC), 53.9% of Binance global accounts were long. The share among top-trader accounts was 59.7%. The taker buy/sell ratio was 0.7141, indicating aggressive sell volume exceeded buy volume.

ARB remained below its 20-day average of $0.17 and 50-day average of $0.19. Its daily relative strength index was 44.29, and its moving average convergence divergence reading was slightly negative at -0.0069. Immediate support stood at $0.16, with resistance at $0.17; strong support was $0.15 and strong resistance was $0.18.

In an earlier Oct. 29 report, ARB traded at $0.16 after a 3.43% decline over 24 hours.