Arkham/Tether (ARKMUSDT) Market Overview: 24-Hour Technical Update

• Arkham/Tether (ARKMUSDT) declined in 24 hours, closing 0.326 below the previous day’s close
• Price formed a bearish bias with several bearish engulfing and doji patterns observed
• RSI and MACD indicated bearish momentum, with no overbought conditions
• Volatility remained muted, with price staying within Bollinger Band midline pressure
• Turnover spiked after 19:00 ET as bearish continuation took hold

Arkham/Tether (ARKMUSDT) opened at 0.329 on 2025-10-31 12:00 ET and reached a high of 0.331 before closing at 0.326 on 2025-11-01 12:00 ET, underperforming the previous day’s close. The 24-hour volume amounted to 6,468,736.8, with total turnover at 2,069.57. The price action reflected a bearish drift, supported by weakening momentum and consolidation.

Structure & Formations

The 15-minute chart showed multiple bearish engulfing patterns and doji formations from 16:00 to 19:30 ET, suggesting indecision and potential exhaustion in the buying side. Price fell below key support at 0.325 after a sharp drop in the 17:00–18:00 ET window. Resistance at 0.328 held briefly in the evening session but failed to hold as bearish momentum took over.

Moving Averages

On the 15-minute chart, the 20- and 50-period SMAs acted as dynamic resistance, with price failing to cross above the 50-period line after 18:00 ET. Daily charts showed the 50-period SMA above the 100- and 200-period lines, reinforcing a bearish tilt in the broader trend.

MACD & RSI

The MACD crossed below the signal line early in the session and remained in negative territory, aligning with bearish momentum. RSI hovered between 30–50, indicating moderate bearish bias with no overbought signals. A bearish divergence was observed between the RSI and price after 20:00 ET, suggesting potential continuation of the downtrend.

Bollinger Bands

Price remained near the lower Bollinger Band for much of the session, indicating a period of low volatility. A contraction in the band width occurred between 17:00 and 18:00 ET, followed by a breakout to the downside, supporting a continuation of the bearish trend.

Volume & Turnover

Volume spiked after 19:00 ET, coinciding with a sharp drop to 0.321. Notional turnover also increased during this period, supporting the bearish move. However, no significant divergence was observed between volume and price action, indicating a strong alignment in sentiment.

Fibonacci Retracements

On the 15-minute chart, a recent swing from 0.329 to 0.317 saw price retest the 61.8% level at 0.324, which failed as support. Daily Fibonacci levels showed pressure at 0.328, aligning with the 50-period SMA as a key psychological level.

Backtest Hypothesis

To further validate these observations, an event-based backtest using the Doji Star candlestick pattern could provide insight into potential trend reversals or continuations. The Doji pattern, often seen in this session, is a candidate for such testing, particularly in identifying indecision points that may precede trend shifts. To proceed, we would need to define the ticker, candle frequency, and return method.