Day chart shows ARN has settled twice on the 88% fib and appears to have formed support there. This has popped onto my radar due to the large amount of traded volume - while being aware that coins can be subject to volume manipulation, given the the large rallies ARN has had in the past, and the incoming trendline/support squeeze it is worth noting. Presuming a bottom is formed at this price point over the next couple of days, many indicators will also confirm bullish divergence.
Looking more closely at volume on the 1 hour chart, we can see an unusual volume profile, however for July it does appear that much more volume is being pushed into the green candles upward movements, in contrast with lesser volume on the downward movements. This may imply accumulation.
Down on the 4 hour chart, I am also seeing indicators with hidden divergence - a good sign which indicates the price is able to hold this level without additional need for supporting buyers. Price action is wicky so it is hard to suggest a firm break out point from upper trend - I have two possibilities drawn on the main chart. ADX is low confirming no strong trend in either direction right now.
Regardless, presuming a BTC movement doesn't change anything about this chart, 9k sats is a great pick up point for the next move. Stop loss just below support.
From all time low to all time high this coin made 3600% gains, with multiple opportunities since then to catch smaller but still substantial bounces. When the next move begins I will update with potential targets.
Looking more closely at volume on the 1 hour chart, we can see an unusual volume profile, however for July it does appear that much more volume is being pushed into the green candles upward movements, in contrast with lesser volume on the downward movements. This may imply accumulation.
Down on the 4 hour chart, I am also seeing indicators with hidden divergence - a good sign which indicates the price is able to hold this level without additional need for supporting buyers. Price action is wicky so it is hard to suggest a firm break out point from upper trend - I have two possibilities drawn on the main chart. ADX is low confirming no strong trend in either direction right now.
Regardless, presuming a BTC movement doesn't change anything about this chart, 9k sats is a great pick up point for the next move. Stop loss just below support.
From all time low to all time high this coin made 3600% gains, with multiple opportunities since then to catch smaller but still substantial bounces. When the next move begins I will update with potential targets.
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