ARKM Current Slide Terminates as It Approaches the Oversold Mark
Arkham is currently below the support level of $0.55 and is approaching the oversold mark at $0.51. Selling pressure has resumed after retesting the support level, indicating that ARKM is likely to fall further. The crypto asset has also entered the market’s oversold zone.
Arkham Price Statistics Data:
- Arkham price now – $0.5263
- Arkham market cap – $78,718,558
- Arkham circulating supply – 150,000,000 ARKM
- Arkham total supply – $526,280,155
- Arkham Coinmarketcap ranking – #283
Resistance Levels: $0.70, $0.75, $0.80
Support Levels: $0.55, $0.50, $0.45
The cryptocurrency’s price has continued to fall after losing the support level of $0.55. It is currently decreasing following a rejection at the $0.55 high. However, there was an upward correction on July 20, with a retraced candle body testing the 50% Fibonacci retracement line.
This correction suggests that ARKM will drop to the level of the 2.0 Fibonacci extension, which is $0.37. At the moment, the crypto asset has fallen to a low of $0.52. The price action is currently dominated by small-body indecisive candlesticks known as Doji.
PEPE/USD – 4 Hour Chart
The altcoin is experiencing a slight drop as it approaches the oversold mark at $0.51. These candlesticks may prevent the negative trend from continuing. ARKM is currently at level 35 on the Relative Strength Index for period 14, indicating that it is moving into the oversold area of the market.
Alternatives to Arkham
Other cryptocurrencies have recently increased in value and are trading above their respective support levels. If the current slide of ARKM terminates in the oversold area, buyers will be drawn to the lower price levels, causing the altcoin to increase in value.
Hot Take
The current market conditions suggest that ARKM may continue to fall, but the presence of Doji candlesticks and the potential for buyers to enter at lower price levels could lead to a reversal. It is important for crypto readers to monitor the support and resistance levels mentioned to make informed decisions about ARKM.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
