Aside from whale activity, it could be related to this double-bottom shown here coupled with an oversold bounce.
After the run up, ARK is currently trading in an equilibrium pattern between 24.2k and 25k .
Look for a break of resistance for signals.
I'm currently holding a decent-sized position in ARK at the moment
Needs to hold that or could spell sentiment.
1 Hour Chart
This tightening range is a precursor to a breakout either upwards or downwards.
I'm simply sharing my trades so take this advice at your own risk :) Good luck out there!
Looking at the hourly chart, there is still support on the 21.5k level + there's a decent reversal candle.
Unfortunately, I wasn't able to sell at my break-even point. So, I'll be holding unless the 21.5k support breaks.