ARKM/USDT Approaching Key Support as RSI Nearing Oversold
$ARKM



ARKM/USDT is currently trading at $0.988, down by -1.40%. The price is under downward pressure, falling below the 200-period moving average at $1.067, which highlights the bearish sentiment in the market. Additionally, the VWAP at $0.992 is close to the current price, indicating a level of equilibrium between buyers and sellers, but the bias remains bearish.
The RSI is currently at 37.12, which shows the asset is nearing oversold conditions. While the downtrend could continue, the RSI suggests that there might be a temporary bounce if buying pressure increases.
The MACD has turned negative, with the MACD line at -0.008 below the signal line at -0.007, confirming the growing bearish momentum. The histogram is also showing negative bars, supporting the continuation of the downtrend.
Key support levels to watch are around $0.90. A break below this level could extend the downtrend toward the $0.85 or even $0.80 levels.
On the upside, immediate resistance lies at $1.10, which aligns with the 200-period moving average. A break above this level could shift sentiment towards a more neutral or bullish outlook

Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always conduct your own research before making trading decisions.

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