Arkham/Tether Market Overview

Summary
• ARKMUSDT surged to a 24-hour high of $0.341, showing strong bullish momentum late in the session.
• Volume spiked during the 16:30–17:00 ET window, confirming the breakout.
• RSI reached overbought territory, suggesting potential consolidation or pullback.

ARKMUSDT opened at $0.287 on 2025-11-06 at 12:00 ET and closed at $0.341 by 12:00 ET on 2025-11-07. The pair reached a high of $0.344 and a low of $0.283 during the 24-hour window, with a total volume of 9.25 million USD and notional turnover of $2.93 million. The price action displayed a sharp reversal after a midday consolidation phase, with late-session strength driven by high-volume bullish candlesticks.

The price found key support at $0.294–0.295 during the afternoon, which held multiple times and acted as a psychological level for buyers. Later, it broke through strong resistance near $0.310–0.315 and extended to $0.325–0.335, followed by a decisive move above $0.335–0.340. The pattern of a bullish breakout on high volume—confirmed by a long-bodied candle—suggests a shift in sentiment. Notably, several bullish engulfing patterns formed in the late afternoon and evening, signaling strong momentum.

The 20-period and 50-period moving averages on the 15-minute chart crossed above price during the late afternoon, supporting the bullish move. MACD turned positive and expanded, indicating strengthening upward momentum. RSI reached overbought territory, crossing above 70 for the last four hours of the session, which may suggest a pause or pullback is likely. Bollinger Bands expanded as volatility increased during the breakout, and price pushed beyond the upper band on multiple occasions.

Fibonacci retracements from the $0.283–0.344 swing showed key levels at 61.8% ($0.317) and 78.6% ($0.333), both of which were cleared by the close. On the daily chart, the 50-day and 200-day moving averages appear to provide a potential floor for further consolidation or support. Volume and turnover aligned well with price, showing no significant divergence and validating the strength of the move.

Backtest Hypothesis
A backtest of a strategy focused on buying ARKMUSDT when a bullish engulfing pattern formed—such as those seen at 16:30–17:00 ET—could have yielded strong results over a 3-day hold. Given the current context, similar patterns appearing on high volume may suggest short-term opportunities. Strategies leveraging these patterns, particularly when confirmed by MACD and RSI divergence, appear robust for capturing momentum shifts.