Based on the chart of ARKM/USDT, here are the key support and resistance levels:
Support Levels:
Support 1: 1.85–1.90 USD
Aligned with the 0.618 Fibonacci retracement and recent price consolidation zone. This could act as immediate support.
Support 2: 1.60–1.65 USD
Located near the Area of Interest on the chart and represents the 0.786 Fibonacci level, a strong demand zone.
Support 3: 1.20–1.30 USD
A major historical support level, where buyers have previously stepped in. A break down to this level would likely indicate a deeper correction.
Resistance Levels:
Resistance 1: 2.50–2.70 USD
This is the nearest resistance, aligning with the volume profile and Fibonacci extensions. Breaking above this level would confirm bullish momentum.
Resistance 2: 3.50–3.80 USD
A medium-term target, marked by previous highs and projected by the yellow trend path.
Resistance 3: 4.50–4.60 USD
The long-term resistance target, representing significant upside potential in the next bullish wave.
Scenario Analysis:
Bullish Case: Holding above 1.85 USD and breaking through 2.50 USD could trigger a rally toward 3.50 USD. Sustained buying pressure could extend this move to 4.50 USD.
Bearish Case: A break below 1.85 USD may push the price towards 1.60 USD or lower to 1.20 USD, offering potential re-entry opportunities.
Volume confirmation and MACD momentum will be critical in validating these levels.