The $ARK /USDT chart demonstrates a sharp upward move, with the price rising from $0.2958 to a high of $0.4601, reflecting a 26.05% gain within the 4-hour timeframe. This strong rally suggests a substantial increase in buying interest, pushing the price upward significantly. However, the price has retraced slightly to $0.4137 after reaching the peak, indicating some profit-taking by traders.
The key resistance level stands at $0.4601, the recent high. A break above this level with strong volume could lead to further upside momentum. On the downside, the nearest support level is around $0.3478, where the price may stabilize if a pullback continues. This support level will be critical in determining whether the uptrend will remain intact or if a deeper correction is on the horizon.
For traders considering a long position, it would be prudent to wait for a confirmed breakout above $0.4601 or look for an entry on a pullback near $0.3478 support. In both cases, itâs essential to place stop-loss orders below key support levels to mitigate risks in case of increased volatility or sudden price reversals.
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