Quick trend analysis
Price structure:
On the 1H chart, ARKM is trying to maintain an uptrend structure with higher lows. The current price ($0.1474) is just below the short-term resistance MA7 ($0.1480) but still holding above MA25 ($0.1445) and MA99 ($0.1421).
On the 15m chart, the price just formed a double top around the $0.1516 mark and is currently in a corrective pullback, breaking below both MA7 ($0.1479) and MA25 ($0.1478). The price is heading to retest the important dynamic support MA99 ($0.1444).
Indicators:
RSI (6): The 15m chart has dropped to a low neutral level of 43.60, indicating short-term selling pressure is prevailing. The 1H level is stable at 55.19.
MACD (15m): Selling pressure is starting to increase again as the DIF line crosses below the DEA (Histogram turns red), signaling that this short-term correction may continue a bit longer before finding a balance point.
Main strategy: Temporarily observe, prioritize going LONG (buy) when the price corrects to strong support zones below to align with the larger trend (1H). Avoid entering trades at the current floating price.
🎯 ARKM/USDT trading plan
🟢 LONG (buy) $0.1435 - $0.1445 $0.1410 TP1: $0.1490
TP2: $0.1515 Recommended. Be patient and wait for the price to correct close to the MA99 level on the 15m ($0.1444) and MA25 on the 1H ($0.1445). This is a very nice confluence support zone. SL set below MA99 on the 1H ($0.1421).
🔴 SHORT (sell) $0.1495 - $0.1510 $0.1530 TP1: $0.1450
TP2: $0.1435 Watch for a short-term technical rebound on the 15m chart to test the old high area. If a rejection wick appears, then short to catch the corrective wave back to support.$ARKM
Price structure:
On the 1H chart, ARKM is trying to maintain an uptrend structure with higher lows. The current price ($0.1474) is just below the short-term resistance MA7 ($0.1480) but still holding above MA25 ($0.1445) and MA99 ($0.1421).
On the 15m chart, the price just formed a double top around the $0.1516 mark and is currently in a corrective pullback, breaking below both MA7 ($0.1479) and MA25 ($0.1478). The price is heading to retest the important dynamic support MA99 ($0.1444).
Indicators:
RSI (6): The 15m chart has dropped to a low neutral level of 43.60, indicating short-term selling pressure is prevailing. The 1H level is stable at 55.19.
MACD (15m): Selling pressure is starting to increase again as the DIF line crosses below the DEA (Histogram turns red), signaling that this short-term correction may continue a bit longer before finding a balance point.
Main strategy: Temporarily observe, prioritize going LONG (buy) when the price corrects to strong support zones below to align with the larger trend (1H). Avoid entering trades at the current floating price.
🎯 ARKM/USDT trading plan
🟢 LONG (buy) $0.1435 - $0.1445 $0.1410 TP1: $0.1490
TP2: $0.1515 Recommended. Be patient and wait for the price to correct close to the MA99 level on the 15m ($0.1444) and MA25 on the 1H ($0.1445). This is a very nice confluence support zone. SL set below MA99 on the 1H ($0.1421).
🔴 SHORT (sell) $0.1495 - $0.1510 $0.1530 TP1: $0.1450
TP2: $0.1435 Watch for a short-term technical rebound on the 15m chart to test the old high area. If a rejection wick appears, then short to catch the corrective wave back to support.$ARKM