$ARKM $ARKM Analysis of ARKM/USDT Chart with Trade Strategy
Current Price: $1.711 (+17.84%)
24-hour High: $1.724
24-hour Low: $1.438
24-hour Volume: 17.56M ARKM / 28.72M USDT
Chart Analysis:
The ARKM/USDT chart shows a strong upward trend, with the price recently breaking through a key resistance level around $1.700. The next resistance level is identified at approximately $1.750, with a potential target of $1.850 if the bullish momentum continues.
Trade Strategy:
1. Entry Point: Consider entering a long position if the price sustains above the $1.700 resistance level, confirming the breakout.
2. Stop Loss: Place a stop loss below the previous support level at $1.650 to manage risk.
3. Take Profit: Set a take profit target at $1.850, aligning with the projected upward trend.
Risk Management:
Ensure proper risk management by not risking more than 2% of the trading capital on this trade. Monitor the trade closely for any signs of reversal or weakening momentum.
This strategy leverages the current bullish momentum while managing risk effectively.
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