Arkham (ARKM) Announces a New Platform Feature on Twitter

  • Arkham announced a new platform feature on their Twitter page yesterday.
  • Users are now able to claim their unique usernames on the platform, which will be used for all upcoming features.
  • At press time, ARKM was trading at $0.5379 following a 5+% gain in the past 24 hours.

Arkham (ARKM) revealed a new feature on Twitter yesterday. In the post, the project shared that users are now able to claim their unique username on the platform, which will be used to interact with a variety of upcoming Features.

At press time, CoinMarketCap indicated that the altcoin achieved a 24-hour gain of more than 5%. As a result, ARKM was changing hands at $0.5379. Together with its positive price increase throughout the past day of trading, the cryptocurrency’s total daily trading volume also rose 76.75%. This boosted the total to $41,109,290 as a result.

4-hour chart for ARKM/USDT (Source: TradingView)

ARKM saw its price rise from an opening price of $0.05 to a high of $1.10736 during its listing day on 18 July 2023. It then pulled back to close its first 4-hour candle at $0.7987, as early-stage investors most likely took profit. In the 4-hour candle that followed, the altcoin’s price dropped 11.22% to a close of $0.70885.

ARKM’s price decline did not stop there, however, as bears gradually sold off their holdings – resulting in a break below $0.64479. In the 24 hours after the break below this level, ARKM reached a low of $0.56 on 20 July 2023. Traders then attempted to boost its price back to $0.64479.

This attempt failed, as ARKM’s price faced rejection, which caused it to continue its gradual descent. It was not until the cryptocurrency’s price was at risk of falling below $0.48590 that bulls attempted to push it above the negative trendline on its 4-hour chart. However, sell pressure from early investors proved to be too powerful.

ARKM’s price then dropped in the 8 hours after the failed attempt at breaking out of the negative trend line yesterday. Nevertheless, the latest 4-hour candle suggested that bulls had not given up just yet and may attempt to force the altcoin’s price out of the trend line again during today’s trading session.

Should bulls succeed, ARKM may attempt to flip the $0.64479 mark into support again. Conversely, another failed attempt at breaking above the negative trend line may lead to ARM breaching the aforementioned $0.48590 price point.

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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