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The Arkham price surged more than 32% over the past 24 hours to trade at $2.12 as of 9:05 a.m. EST.
The Arkham Price Continues Its Upward Trajectory
4-hour chart for ARKM/USDT (Source: TradingView)
The Arkham price has formed a medium-term positive price channel on its charts after it printed a series of higher highs and higher lows over the past fortnight.
This bullish momentum resulted in the crypto overcoming multiple resistance levels, and could lead to it overcoming the subsequent barrier at $2.4310 soon as well.
A 4-hour candle close above this threshold may give Arkham, a blockchain analysis platform that uses AI, the foundation needed to keep climbing in the short term.
However, a rejection from the $2.4310 barrier in the coming 12 hours may expose ARKM to the risk of correcting to the immediate support level, which is situated at $1.8287. Continued sell pressure if the crypto reaches this mark may bring the Arkham price down to as low as $1.35 in the coming few days.
The Arkham Price Likely To Correct In The Next 24 Hours
Technical indicators on ARKM’s 4-hour chart suggest the altcoin may undergo a correction soon. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging bearish.
The MACD line is positioned well above the MACD Signal line on the 4-hour chart. This is bullish and signals the Arkham price is in a positive trend. However, the negative gradient of the MACD Histogram warns that this bullish phase may have reached a peak, and a bearish trend reversal is looming.
Supporting this short-term bearish outlook is the RSI indicator, as the RSI line is currently falling towards its Simple Moving Average (SMA) line. An intersection between these two technical indicators in the next 24 hours could be seen as a signal that bears have gained the upper hand against bulls. As a result, it could be easier for sellers to bring the Arkham price down than it will be for buyers to boost it in the following 48-72 hours.
While the Arkham price is at risk of correcting in the short term, experts are bullish on Scotty the AI and its potential to return parabolic gains for investors.
The Next Meme Coin Sensation
Scotty the AI is the latest altcoin to enter the burgeoning meme coin space and may have what it takes to challenge sector leaders including DOGE, BONK and PEPE. That’s because, unlike its rivals, Scotty is an AI-powered meme coin.
The project will also serve as a guardian for crypto investors by guiding them through the overwhelming Web3 space while sniffing out potential fraud that could result in a loss of funds.
💥Presale Update!💥
ScottyTheAi has raised $1,000,000 🚀
Reaching another mile stone in early stages of presale.Well on our way to closing out presale and heading for that $100M marketcap.
Congratulation to all the early #Scottydogs in presale 👏
Buy Now:… pic.twitter.com/9Die3RDJAe
— Scotty The Ai (@ScottyThe_Ai) February 29, 2024
With the help of sophisticated AI models, Scotty the AI will analyze vast amounts of code to try and uncover hidden insights as well as identify potential software bugs and security vulnerabilities in smart contracts.
The project’s flagship offering is its AI-powered decentralized exchange “Scotty Swap”. Investors can trade cryptos on the platform with the peace of mind that they are protected, since the source code of the associated smart contracts are constantly analyzed before any transactions are executed. Potential threats are then flagged before cyber criminals can steal any funds from investors on the platform.
Nice YouTube video for our Turkish community to check out. Link below 👇
🚀Stage 7 presale less than $45k away from closing. Price will increase at stage 8#Bitcoin #Ethererum #memecoins @muhammedhanci5 https://t.co/ogoWtQaUzS pic.twitter.com/jnpaBX36uc
— Scotty The Ai (@ScottyThe_Ai) February 28, 2024
The Potential To Skyrocket Soon
Scotty the AI’s native token, SCOTTY, has excited multiple experts and analysts given its strategic positioning in the flourishing meme coin space and the booming AI sector.
Investor confidence in the altcoin’s ability to return substantial gains in the short term is also sky-high, as shown by the success of SCOTTY’s presale.
Over the past 24 hours, the meme coin’s ICO has blasted past the $1 million mark and continues to attract more capital.
Selling for just $0.0063, SCOTTY can be purchased using Ether (ETH), Tether (USDT) or bank card. Upon purchasing the meme coin with these payment options, presale investors will gain access to a very lucrative staking program, which currently offers annual rewards of up to 119%.
But a price rise is coming in less than 10 days, so act soon to secure the lowest rate.
SCOTTY can be purchased here.
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