Arkham (ARKM) Touches Key Support Zone as Analyst Predicts Potential Bullish Reversal

• Arkham’s key support zone between $1.80 and $2.00 indicates strong buyer interest and potential for rebound.
• Breaking $2.50 resistance is crucial for ARKM’s upward momentum and possible bullish trend continuation.
• A breakout above $3.00 could lead to retesting previous highs around $4.00, signaling significant upward movement.

Arkham (ARKM) has recently touched its key support zone as highlighted by Crypto Aman, an analyst, signaling potential movement in the ARKM/USDT pair. Analyzing the weekly chart shows promising signs for Arkham, hinting at a potential bullish trend. 

The recent price movement has been intriguing, especially with the live price today at $2.08 and an impressive 24-hour trading volume of $64 million. Over the past 24 hours, Arkham has plummeted by 7.58%.

The initial surge in Arkham’s price took it to around $4.00. This peak was followed by a notable correction. This correction phase was expected after such a rapid increase. Following this correction, the price entered a consolidation phase. 

In this phase, the price movement has been marked by smaller candlesticks, indicating a balance between buyers and sellers. This phase of indecisiveness often precedes significant price movement.

Moreover, there is a potential bullish reversal on the horizon. A “V” shape pattern is forming at the current price level. This pattern often signals a reversal from a downtrend to an uptrend. If the price follows the projected yellow arrow, a bullish trend could be seen emerging.

The support and resistance levels are also crucial in this analysis. The key support zone lies between $1.80 and $2.00. This range has historically provided strong support, with the price bouncing back multiple times. This zone acts as a critical psychological level where buyers step in to prevent further declines.

On the resistance front, the immediate resistance level is around $2.50. This level has been a point of selling pressure in recent upward attempts. Breaking and sustaining above $2.50 is essential for the price to continue its upward trajectory. 

Beyond this, the next major resistance is around $3.00. This level holds historical significance from previous price action and may pose a challenge for further upward movement. However, a breakout above $3.00 could lead to a retest of the previous high around $4.00.