$ARKM experienced some profit-taking after the airdrop. However, today it managed to bounce off the resistance zone.

Looking at the chart, the price has been moving within a falling wedge formation, which typically results in an upward breakout. #BinanceHODLerLAYER

Technical Analysis:

• Price Movement: The price has been in a falling wedge for a while and has now reacted from the support level.

• Support and Resistance Levels:

• Support: 0.60 - 0.65 zone

• Resistance: 0.80, 1.20, and 1.40 levels

• Possible Scenarios:

• Break above 0.80: Could trigger an upward movement, targeting 1.20 and 1.40.

• Staying below 0.60: May deepen the downtrend.

For a confirmed breakout from the falling wedge, a high-volume move is crucial. A breakout without volume could be misleading, so waiting for confirmation before making a trade is important.