💎 Paradisers, #ARK is showing promise as a potential coin to watch.
💎 It has encountered rejection at the resistance area, coinciding with the resistance of the descending channel. There's a possibility that the price will test the demand area around $0.767 to gather momentum before attempting another breakout of the resistance.
💎 A successful breakout here would signal a bullish continuation, but confirmation would require breaking through the CHoCH area to confirm a reversal in the bullish trend. If this scenario unfolds successfully, the price could reach our target area.
💎 However, if ARK fails to bounce at the demand area and breaks down, the next support level to watch is the major support area.
💎 This area has historically shown strength in sustaining ARK during downward movements, with consistent bounces upon reaching it, indicating significant buyer interest. If ARK successfully bounces from this level, it will need to break the $0.91 resistance to confirm further upward movement.
💎 Bullish invalidation would occur if ARK failed to hold the major support area and breaks down with a daily candle closing below it. Such a scenario could signal further downward movement in price.