The Arkham Price Skyrockets! Discover the Next Mega Profit Opportunity Before It’s Too Late!

Table of ContentsToggle

1. Arkham Price Outlook

2. Potential Trade Ideas

The Arkham price surged over 19% in the last 24 hours to trade at $3.32 at press time.

Arkham Price Outlook

4-hour chart for ARKM/USDT (Source: TradingView)

In the latest analysis of the Arkham price on the 4-hour chart, a significant uptrend has been observed, showcasing a notable surge in closing prices. This upward trajectory is further evidenced by the exponential moving averages (EMAs) and the Moving Average Convergence Divergence (MACD), both vital indicators for traders looking to gauge market momentum and potential price movements.

The 9 EMA and 20 EMA values have shown a consistent increase, with the 9 EMA moving from $2.7485 to $2.9630 and the 20 EMA from $2.6605 to $2.7993. This indicates a bullish market sentiment, as the price remains well above both the 9 EMA and 20 EMA, suggesting a strong upward momentum. The widening gap between the 9 EMA and 20 EMA further reinforces the bullish trend, offering potential entry points for long positions.

Blackrock received its highest EVER one-day on-chain inflow on Wednesday this week. +12.6K BTC ($842M) They now hold 183.3K BTC ($12.3B) pic.twitter.com/qM7UsTTcZk — Arkham (@ArkhamIntel) March 8, 2024

The MACD values have also demonstrated bullish signals, with the MACD line consistently above the signal line and the histogram values increasing. The latest MACD value shows a significant rise to 0.1646, with the signal line at 0.1151 and a histogram value of 0.0494, indicating a strong buying momentum and potential for continued upward movement.

The RSI has progressed and moved into the overbought territory. While this could indicate strong bullish momentum, it also warns of a possible pullback or consolidation phase as the market may be considered overextended.

Considering the current momentum, the Arkham price faces its next major resistance level at $3.4023. A sustained break above this level could open the path for further gains. On the downside, key support levels are identified at $2.6979, $2.4141, and $2.1544. These levels could serve as potential exit points for short trades or entry points for investors looking to buy the dip.

Contrary to widespread reports, Tesla's SEC filings show a balance of 11.5K BTC – the same as our number. There is a widespread erroneous belief that Tesla has held 9720 BTC since their most recent BTC sale in Q2 2022. This seems to come from a mistake in reading the quarterly… https://t.co/WJ4HtbJWYk pic.twitter.com/CuqVLCTcC6 — Arkham (@ArkhamIntel) March 7, 2024

Overall, the technical indicators for ARKM are bullish. The price action, supported by rising EMAs, a bullish MACD, and increased volumes, suggests a continuation of the uptrend. However, traders should monitor the RSI for signs of overbought conditions that could precede a short-term pullback.

Potential Trade Ideas

For long trades, potential entry points could be identified around the 9 EMA or upon a retest of support levels, assuming bullish signals persist. Exit points, or targets, might be set near identified resistance levels or upon bearish divergence signals on the MACD or RSI.

Conversely, for short trades, potential entries might be considered if the price fails at resistance levels and shows bearish reversal patterns, with exits planned around the mentioned support levels.

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.