$ARKM Here’s an analysis for based on your provided data. Please note this is for educational purposes only and is not financial advice.
Analysis and Trading Plan.
Market Overview.
Current Status: $ARKM experienced a long liquidation at $1.50264, indicating selling pressure at this level.
This suggests resistance around $1.50, where many traders might be closing positions.
However, if buying interest builds, we could see a reversal.
Key Trading Levels.
Buy Zone.
$1.40 - $1.45: A potential accumulation area if price retraces. This zone may attract buyers looking for value near support levels.
Targets.
1. Target 1: $1.55 Close to the recent resistance, suitable for short-term profits.
2. Target 2: $1.60 A breakout level if bullish momentum builds.
3. Target 3: $1.70 Extended target if $1.60 breaks convincingly.
Stop Loss.
Place your Stop Loss below $1.35 to minimize risk. This ensures protection if the price falls further.
Risk Management.
Risk to Reward Ratio: Ensure it’s at least 1:2. For example, if risking $0.05, aim for at least $0.10 profit.
Position Sizing: Invest only a small portion of your portfolio (e.g., 2-5%) in any single trade.
Tips.
1. Volume Confirmation: Look for increased buying volume before entering.
2. News and Sentiment: Check for news related to $ARKM or the broader crypto market.
3. Follow Trends: Use Moving Averages (e.g., 50 EMA) to confirm trend direction.
Would you like a visual chart analysis or further details.
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