Arkham/Tether (ARKMUSDT) Market Overview: Bullish Breakout and Strong Volume Confirmation

• Arkham/Tether (ARKMUSDT) climbed from $0.364 to $0.406, closing near a 24-hour high.
• A Morning-Star pattern emerged early, confirmed by a bullish breakout above key resistance at $0.382.
• Volume surged 130% in the final 4 hours, aligning with price action.
• RSI hit 65, signaling overbought conditions, while MACD crossed into bullish territory.
• Price hovered near upper Bollinger Bands with widening bands, reflecting rising volatility.

Arkham/Tether (ARKMUSDT) opened at $0.364 at 12:00 ET - 1 and surged to a high of $0.406 before closing at $0.406 at 12:00 ET. The 24-hour volume totaled 17.85 million units, with a notional turnover of $6.93 million, reflecting strong accumulation in the final hours. The pair exhibited a bullish reversal pattern, with price closing near the upper end of the range.

The 20- and 50-period SMAs showed a narrowing gap as the 15-minute chart accelerated higher, suggesting momentum favoring the bulls. The 50-period SMA on the daily chart is now acting as a dynamic support level near $0.375, which was tested and rejected multiple times during the session. A clear support level emerged near $0.372, where the price found buying interest on several occasions.

A Morning-Star candlestick pattern appeared early in the session, followed by a bullish breakout above key resistance at $0.382, which was previously a major psychological and Fibonacci 50% retracement level. The formation was confirmed by a strong follow-through in the following hours, with price pushing above $0.400 for the first time in several weeks. The RSI reached 65, indicating overbought conditions, while the MACD crossed above the signal line, suggesting continued bullish momentum.

Bollinger Bands expanded significantly during the final 4 hours of the session, with the price staying near the upper band for most of that time. This suggests increasing volatility and a strong short-term bias to the upside. A recent swing high at $0.410 may act as the next level of resistance to watch, particularly in the context of a bullish breakout. The 38.2% and 61.8% Fibonacci retracement levels from the recent low at $0.364 now sit at $0.379 and $0.397, respectively, with the price currently hovering just above the 61.8% level.

A backtesting strategy could leverage the Morning-Star pattern and the breakout above $0.382 as a high-probability entry signal. Given that the RSI entered overbought territory and the MACD showed bullish divergence, a 3-day hold strategy after the pattern confirmation may provide a favorable risk-reward profile, especially if the move to $0.410 is confirmed. This aligns with the current technical bias toward continuation of the upward move. However, a stop-loss near $0.372 would offer protection in case of a reversal.