GALA and ARB are both on the popularity charts at the same time—this is something I haven’t seen for these past few months.
First, let’s talk about GALA. Last year’s end-of-year pullback was fairly clean in terms of washing out weak hands, and on-chain token concentration has been increasing. The 15-minute candle we just saw broke above the downtrend line from since March with an expansion in volume, and recently there’s been money flowing back into the GameFi sector—this isn’t just a single-coin anomaly.
ARB is even more worth keeping an eye on. The L2 sector as a whole has been grinding at the bottom on reduced volume. This round of ARB’s decline has been deeper than OP’s, but over the past couple of days, the daily chart has started to show bottoming with volume support. On-chain data shows that the large whale address holdings ratio has been gradually rebounding, while retail investors are exiting.
My habit is not to chase right at this point. I wait for a pullback and confirmation. The two coins’ structures aren’t quite the same: GALA looks more like a short-term impulse, while ARB looks more like an interim bottom-build/positioning area. Let’s first see whether ARB can hold and stay within this range before deciding.
First, let’s talk about GALA. Last year’s end-of-year pullback was fairly clean in terms of washing out weak hands, and on-chain token concentration has been increasing. The 15-minute candle we just saw broke above the downtrend line from since March with an expansion in volume, and recently there’s been money flowing back into the GameFi sector—this isn’t just a single-coin anomaly.
ARB is even more worth keeping an eye on. The L2 sector as a whole has been grinding at the bottom on reduced volume. This round of ARB’s decline has been deeper than OP’s, but over the past couple of days, the daily chart has started to show bottoming with volume support. On-chain data shows that the large whale address holdings ratio has been gradually rebounding, while retail investors are exiting.
My habit is not to chase right at this point. I wait for a pullback and confirmation. The two coins’ structures aren’t quite the same: GALA looks more like a short-term impulse, while ARB looks more like an interim bottom-build/positioning area. Let’s first see whether ARB can hold and stay within this range before deciding.