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Summary
• Price dipped from $0.190 to $0.181 amid bearish 5-minute patterns and declining momentum.
• Volume surged during key declines but failed to confirm a strong reversal, suggesting indecision.
• RSI and MACD signaled oversold conditions, hinting at a potential near-term bounce.
• Volatility expanded during the drop, with price breaking below key support levels on the 5-minute chart.
Arkham/Tether (ARKMUSDT) opened at $0.188 and dropped to a 24-hour low of $0.181 before closing at $0.182. Total volume reached ~4.16 million contracts, with turnover exceeding $746,000. Price action showed increasing bearish momentum early, followed by a potential oversold bounce in late hours.
Structure & Formations
A bearish engulfing pattern formed around $0.189–$0.186 during the early part of the session, confirming a short-term reversal. A doji near $0.182 at the close suggests indecision and could mark a near-term bottom if buyers step in. Key support levels were seen at $0.186 and $0.181, both of which were tested and briefly broken.
Moving Averages and Momentum
On the 5-minute chart, the 20- and 50-period moving averages crossed bearishly early in the session. By the end of the 24 hours, the 20SMA had reapproached the price from below, hinting at potential short-term stabilization.

Volatility and Bollinger Bands
Bollinger Bands expanded as price dropped below the 5-minute lower band around $0.181, signaling heightened volatility. The narrowing of bands earlier in the session suggested consolidation before the breakout. Price action currently sits near the lower band, consistent with a potential bounce.
Volume and Turnover Analysis
Volume spiked sharply during the 0.186–0.181 breakdown phase, particularly around 20:00–23:00 ET, indicating increased selling pressure. However, turnover during the subsequent rebound was relatively muted, suggesting a lack of conviction in buying activity. This divergence could signal a temporary floor forming around $0.181–$0.182.
Fibonacci Retracements
On the 5-minute chart, the recent pullback from $0.191 to $0.181 aligned closely with the 61.8% Fibonacci retracement level, reinforcing its significance as a short-term support. Daily-level Fibonacci levels remain untested but could become relevant if the trend extends beyond the 24-hour window.
Price may test the $0.181–$0.182 zone for a potential bounce in the coming 24 hours. While momentum indicators suggest a near-term reversal, increased volume on the breakdown raises caution. Investors should monitor the 5-minute RSI for divergence and watch for a decisive move back above $0.186 as a bullish signal.
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