【Veteran Crypto Trader Watch】 $ARKM
ARKM’s recent price action is worth keeping an eye on, but don’t mistake a rebound for a reversal.
The price was around $0.122 on October 8 and had recovered to around $0.140 by October 11. Trading volume on October 12 was about $9.1 million, up from approximately $6.54 million the previous day—a sign of improving price and volume.
The risk is also clear: the price has already rebounded in the short term, so chasing it at this level may not offer a favorable risk/reward ratio. Next, watch for support on a pullback and whether it can break above the $0.145 area on increased volume.
If it pulls back to the watch zone and stabilizes, you can consider an entry. If it surges without volume keeping pace, don’t chase it.
Entry: $0.1350–$0.1380 (consider only after a pullback stabilizes)
Take profit: $0.1450 / $0.1500 / $0.1560 / $0.1630 / $0.1720
Stop loss 1: $0.1320 (regular stop loss)
Stop loss 2: $0.1280 (final line of defense)
ARKM’s recent price action is worth keeping an eye on, but don’t mistake a rebound for a reversal.
The price was around $0.122 on October 8 and had recovered to around $0.140 by October 11. Trading volume on October 12 was about $9.1 million, up from approximately $6.54 million the previous day—a sign of improving price and volume.
The risk is also clear: the price has already rebounded in the short term, so chasing it at this level may not offer a favorable risk/reward ratio. Next, watch for support on a pullback and whether it can break above the $0.145 area on increased volume.
If it pulls back to the watch zone and stabilizes, you can consider an entry. If it surges without volume keeping pace, don’t chase it.
Entry: $0.1350–$0.1380 (consider only after a pullback stabilizes)
Take profit: $0.1450 / $0.1500 / $0.1560 / $0.1630 / $0.1720
Stop loss 1: $0.1320 (regular stop loss)
Stop loss 2: $0.1280 (final line of defense)