$ARKM analyze the ARKM/USDT chart and discuss potential entry, stop-loss, and profit target levels.
Technical Analysis:
Entry Price:
Conservative Entry: Wait for a clear bullish reversal signal like a higher high and higher low formation or a bullish engulfing candle. You could also consider entering on a pullback to the 1.953 level.
Aggressive Entry: Enter at the current price of 1.989, assuming the bullish trend continues.
Stop-Loss:
Conservative Stop-Loss: Place the stop-loss below the recent swing low (around 1.948) to limit potential losses.
Aggressive Stop-Loss: Place the stop-loss slightly below the entry price (e.g., 1.970).
Profit Targets:
Short-Term Target: Aim for a profit target of 5-10% from your entry price. This could be around 2.09 - 2.19.
Intermediate-Term Target: Consider a target near the 2.044 level, which represents a significant resistance level.
Long-Term Target: If the overall market sentiment remains bullish, you could set a longer-term target near the 2.10 level.
Key Levels:
Resistance: 2.044, 2.10
Support: 1.953, 1.948
Risk Management:
Always use a stop-loss order to limit potential losses.
Consider using a trailing stop-loss to lock in profits as the price moves in your favor.
Don't risk more than you can afford to lose.
Diversify your portfolio to reduce risk.
Disclaimer: This is just a technical analysis based on the candlestick chart. It is not financial advice and should not be used as the sole basis for investment decisions.
Further Considerations:
It's important to consider the overall market conditions and the specific news or events that might be impacting the price of ARKM.
Fundamental analysis should also be considered alongside technical analysis.
I hope this helps! Let me know if you have any other questions or would like to explore specific aspects of the chart in more detail.