ARK [ARKM] Breaks Out of Bullish Flag, Eyes $2.828 Resistance as Volume Surges-web3.0-php.cn

Home

web3.0

ARK [ARKM] Breaks Out of Bullish Flag, Eyes $2.828 Resistance as Volume Surges

Mary-Kate Olsen

Oct 16, 2024 pm 09:00 PM

Resistance SoarArkham [ARKM]

With Arkham [ARKM] breaking out of its bullish flag and trading at $1.97, up 11.77% at press time, all eyes are on whether it can overcome the critical $2.828 resistance.

ARK [ARKM] Breaks Out of Bullish Flag, Eyes .828 Resistance as Volume Surges

As cryptocurrency prices continue to surge, Arkham [ARKM] has emerged as a standout performer,੍ breaking out of a bullish flag pattern and surging over 11% to trade at $1.97 at press time.

This rapid ascent has brought ARKM to the doorstep of a critical resistance level, setting the stage for a potential clash that could determine the token's next move.

After clearing the $1.75 support, ARKM began a new uptrend, eventually breaking out of the bullish flag at $1.8. This breakout pushed the token toward the next resistance at $2.828, which could signal a major rally if breached.

At the same time, a failure at this level might lead to a short-term pullback.

ARKM’s 163.18% volume surge brought the total trading volume to $276.58 million in the past 24 hours. This massive volume increase indicated that traders were accumulating ARKM, which was crucial for sustaining upward momentum.

However, if volume fails to keep up, ARKM might struggle to push through $2.828.

Hence, maintaining elevated volume was key to any potential breakout.

suggesting more people were interested in ARKM. This rise in network activity coincided with the price surge, indicating that more users were interacting with the token.

Therefore, this uptick in activity supported the likelihood of Arkham continuing its upward trend.

Finally, ARKM’s Open Interest also surged by 19.54%, reaching $57.09 million. This rise suggested that more traders were opening positions, reflecting strong market sentiment.

The combination of high Open Interest and rising volume implies that Arkham could be primed for a significant move.

The above is the detailed content of ARK [ARKM] Breaks Out of Bullish Flag, Eyes $2.828 Resistance as Volume Surges. For more information, please follow other related articles on the PHP Chinese website!

Statement

The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

XRP Price Prediction: EGRAG Crypto Targets 150% Rally to $1.5, followed by 1150% Rally to $7.5Aug 26, 2024 am 12:13 AM

The price of XRP is yet to embark on a bullish trajectory but many crypto analysts continue to remain bullish. Among these analysts is EGRAG Crypto

MoonTaurus (MNTR): The Newest Meme Coin Sensation Targeting a $1B Market CapJul 31, 2024 am 03:57 AM

The cryptocurrency market is at a pivotal moment, with Bitcoin nearing the $73,000 resistance level for the third time. This crucial technical point could determine the next major movement for the leading digital asset. Meanwhile, MoonTaurus (MNTR) i

Bitcoin (BTC) Tests $70K Resistance – $100K Target Next?Jul 30, 2024 am 12:20 AM

Bitcoin (BTC) has demonstrated strength today, pushing its price close to $70,000. The crypto has surged approximately 30% from its recent low of $53,000

Injective’s Bullish Momentum Hangs in the Balance: This Pivotal Resistance Could Determine INJ Price FateAug 29, 2024 am 03:48 AM

Rekt Capital, a top crypto analyst, published an analysis of Injective, discussing its price movement and the technical indicator that is affecting its price.

AAVE Price Could Continue Bullish Spike If This Resistance Flips to Support: Here Are the Key Levels to WatchAug 02, 2024 am 03:27 AM

The price of AAVE has been strong since breaking out of a descending channel pattern two weeks ago. After the breakout, the price retested the level successfully and has since been rising steadily.

Bitcoin Cash (BCH) Price Analysis: BCH/USD Now Gaining Traction Again After Witnessing a Short Pullback Earlier This WeekJul 28, 2024 pm 12:49 PM

Mirroring Bitcoin's movement, BCH is now gaining traction again after witnessing a short pullback earlier this week. The price currently appears strong

Binance Coin (BNB) Faces Critical Juncture as Market Grapples With Renewed Bearish PressureAug 13, 2024 am 09:14 AM

With Bitcoin struggling to breach the $60,000 mark, altcoins, including BNB, face mounting challenges in sustaining their recent recovery runs.

XRP Price Prediction: XRP Started a Fresh Surge Above $0.550 after the Recent New York Federal Judge RulingAug 08, 2024 pm 06:57 PM

NEW DELHI (CoinChapter.com) — XRP started a fresh surge above $0.550 after the recent New York federal judge ruling. However, the Bears are still defending $0.620.