Идеи Анализ ARKM is Set to Climb Higher

ARKM is Set to Climb Higher

April 17, 2024 Анализ
BITmarkets | ARKM is Set to Climb Higher

Arkham is a fan-favorite blockchain analysis platform that leverages artificial intelligence to deanonymize blockchain and on-chain data.

The platform's native cryptocurrency, ARKM, has grown by over 160% year-to-date, and the digital coin may be set for greater gains in the near future.

Daily time frame analysis


ARKMUSD - 1 Day Time Frame

Arkham presents a remarkable opportunity for traders in the crypto world. After a significant retracement from its peak, ARKM has demonstrated resilience by touching key support levels such as the previous Swing Low and the 100-day Moving Average (MA) band.

It is important to note that it often takes time for bottoms to form following such retracements. Revisiting liquidity levels frequently provides a prime opportunity for accumulating ARKM tokens.

It is highly likely that the price will consolidate below the marked Pivot Point, similar to its behavior from October to February. Generally, the longer the period of accumulation, the more potent the subsequent price movement.

Hourly time frame insights


ARKMUSD - 1 Hour Time Frame

A stronger confirmation of a trend would be observed if the 50-day MA and 200-day MA flip, with the price starting to respect the 50-day MA. For now, the coin might exhibit reduced volatility until it consistently respects the 50-day MA and rises above the pivot point.

Resistance at the $2.5 mark is notable, as this is a price level where significant selling can occur. However, in a bull market, such resistance tends to be weaker. This is particularly true for Arkham, which, given its recent retracement, has substantial potential to ascend.

Once ARKM breaks its all-time high (ATH), it will enter price discovery mode, and a target price of $10 is not unrealistic—this would bring its market cap to approximately $1.5 billion.

Consider initiating positions when the coin respects the 50-day MA and decisively breaks above the pivot point, indicating a strong upward momentum.

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