$ARKM has shown a price increase of 3.063% in the last 24 hours, indicating short-term bullish momentum.
However, the overall market trend remains a downtrend, suggesting caution.
The price fluctuated between a high of 0.498 and a low of 0.453, indicating volatility.
Bollinger Bands show ARKM is approaching the upper band, hinting at potential resistance near 0.484.
Support at 0.453 remains critical for maintaining bullish sentiment.
Bitcoin's influence is currently undefined, limiting its correlation's impact on ARKM's movements.
Given the volatility, traders should consider a short-term trading approach while monitoring macroeconomic factors like inflation and regulatory developments.
Key takeaway: Tactical positioning is essential in a downtrend with potential for short-term gains.
