Is Arkham Crypto Set for a Breakout? Key Levels and Signals to Watch Now!

The #Arkham crypto has shown varying degrees of volatility in recent trading sessions, as observed on its 4-hour chart. Closing prices indicate a slight uptrend from $2.212 to $2.297 over the last few periods.

The 9 Exponential Moving Average (EMA) and the 20 EMA reveal interesting dynamics about the market sentiment. The 9 EMA, having values like $2.2509 and $2.2507 recently, shows that the price is attempting to stabilize above this average, which could be considered a bullish signal. However, the 20 EMA, with the latest value at $2.2828, has been consistently above the closing prices until the latest spike, indicating a previous bearish sentiment.

The latest peak at $2.297 approaches the critical resistance at $2.33 but has yet to test it. Higher resistance levels at $2.4355 and $2.4559 remain unchallenged. On the downside, support levels at $2.2867, $2.2145, and $2.2058 provide cushions. The recent closings above the first support level at $2.2867 suggest a potential strengthening of the asset's price.

The Moving Average Convergence Divergence (MACD) shows a narrowing of the gap between the MACD line and its signal line, reducing from -0.0059 to 0.0054 in the histogram. This convergence might suggest a weakening of the prevailing downward momentum, hinting at possible bullish behavior if sustained. 

The Relative Strength Index (RSI) has recovered from a low of 29.83, indicating oversold conditions, to a more neutral stance at 49.01. This recovery supports a potential shift in market sentiment from bearish to cautiously bullish. $ARKM #Altcoinseason2024 #TrendingPredictions #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.