Arkham/Tether (ARKMUSDT) Market Overview

Summary
• Price fluctuated between $0.34 and $0.353, closing near the high.
• Volume surged significantly during the late ET session, confirming the bullish bias.
• RSI and MACD suggested overbought conditions late in the session.

ARKMUSDT opened at $0.342 on 2025-11-09 12:00 ET, reaching a high of $0.353, a low of $0.337, and closing at $0.349 as of 2025-11-10 12:00 ET. Over the past 24 hours, total volume amounted to 8,180,395.0 and notional turnover reached $2,834,874.2, reflecting heightened trading interest.

Structure & Formations

The chart displayed multiple bullish signals, including a notable bullish engulfing pattern at 2025-11-10 09:30 ET, with a close at $0.348 following an open at $0.344. Price tested a key support at $0.337 before rebounding. Resistance levels at $0.345–$0.351 appeared relevant, with price consolidating around $0.347–$0.349 toward the close.

Moving Averages

The 15-minute chart showed the 20-period MA at ~$0.343 and the 50-period MA at ~$0.342, indicating a positive tilt in shorter-term momentum. Daily 50, 100, and 200-period MAs (not shown) would be needed to assess longer-term directional bias, but the current short-term trend remains bullish.

MACD & RSI

MACD crossed into positive territory around 2025-11-10 04:00 ET and remained above the signal line, suggesting ongoing bullish momentum. RSI reached overbought levels above 70 during the late morning session, hinting at potential consolidation or pullback, though it closed near overbought territory.

Bollinger Bands

Price action spent much of the session outside the upper Bollinger Band, indicating elevated volatility. The bands were wide, consistent with a strong directional move. A consolidation phase may be ahead, especially with RSI at overbought levels.

Volume & Turnover

Volume spiked to 768,268.8 at 2025-11-10 15:00 ET, coinciding with a sharp drop from $0.348 to $0.344. This volume spike confirmed the move lower. However, the overall trend remained bullish despite the intraday dip, with volume generally confirming higher prices.

Fibonacci Retracements

Applying Fibonacci to the swing high of $0.353 and low of $0.337, the 61.8% retracement level sits at ~$0.343. Price briefly touched this level before bouncing higher, suggesting it may act as a pivot for near-term support or resistance.

Backtest Hypothesis

The described strategy—buying on bullish engulfing patterns and selling below $0.340—aligns with the observed price behavior. A bullish engulfing at $0.344–$0.348 would have entered a long position, and a close below $0.340 would have triggered a sell. While the 24-hour session did not breach $0.340, the strategy’s logic remains robust. In volatile crypto conditions, such a rule-based approach can help manage risk and capture key directional moves.