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The Arkham crypto managed to achieve a slight gain over the past 24 hours to trade at $2.50 at press time.
Arkham Crypto Technical Overview
In recent trading sessions, the Arkham crypto price has shown volatility with notable fluctuations on the 4-hour chart. Here’s a deeper look at its performance and what traders might expect moving forward.
The closing prices for ARKM have seen a mix of rises and dips. The most recent data indicates a somewhat turbulent market phase. This fluctuation has posed challenges for traders attempting to identify clear trends.
The 9 EMA (Exponential Moving Average) and 20 EMA values suggest a minor bearish crossover, with the latest 9 EMA readings falling below the 20 EMA. This could indicate potential downward pressure in upcoming sessions.
The MACD (Moving Average Convergence Divergence), an indicator used to identify potential price direction changes, is trending below the signal line across the last readings, suggesting bearish momentum. The most recent histogram value at -0.0118 confirms a stronger bearish sentiment.
RSI (Relative Strength Index), another critical indicator, currently stands at 46.51. Values below 50 generally suggest bearish conditions, although the RSI is not in the oversold territory which might limit downside risks.
Key Levels to Watch
ARKM is currently oscillating around significant support and resistance levels. Key resistance levels to watch are $2.631 and $2.665, which could cap upward movements. On the downside, support is firm around $2.412 and $2.381, with a critical lower support at $2.301. A break below this level could signal a substantial bearish phase, while a push above the nearest resistance might pivot to a bullish trend.
For traders considering entry and exit points, a cautious approach would be advisable given the mixed signals. Potential long entries could be considered near support levels if signs of bullish reversal appear, such as a bounce-back confirmed by increasing volumes and a positive turn in MACD and RSI. Conversely, short positions might be more favorable near resistance levels if bearish indicators persist.
While the technical indicators lean slightly towards bearishness, the mixed signals and fluctuating volumes suggest a complex trading environment. Traders should keep an eye on the key levels mentioned for potential breakouts or reversals.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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