The $ARKM /USDT 15-minute chart reveals an interesting trading setup, with the price currently at $1.684 USDT after a notable upward movement.
This price action highlights a potential opportunity, particularly as the coin approaches the resistance level at $1.693 USDT, which could signal further gains if broken. On the downside, support is identified at $1.652 USDT, serving as a crucial safety net for this trade.
Entering a position at the current price of $1.684 USDT could be beneficial, with progressive take-profit targets set to capture gains along the way. The first target, TP1, is positioned at $1.690 USDT, offering an initial profit level.
The second target, TP2, is set slightly higher at $1.693 USDT, aligned with the key resistance level. The final target, TP3, stands at $1.700 USDT, representing an optimistic yet achievable goal if bullish momentum continues.
To safeguard against downside risk, a stop-loss at $1.645 USDT is recommended, ensuring a controlled exit if the price reverses unexpectedly.
This trade setup allows for a well-balanced risk-to-reward ratio, with structured targets and a cautious approach to risk management.
As always, it’s essential to monitor the price action closely on a short time frame like the 15-minute chart, adjusting the stop-loss as each take-profit level is approached to lock in profits and reduce exposure to potential reversals.
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