Following the previous idea on Ark, it has reached the upside target at $6 and continued to move higher. Throughout a consolidation that has lasted from 20th December up until yesterday, the price has been ranging between $9.5 and $6.
What is interesting is that previous upside target clearly has been acting as a strong support where price bounced off at least 3 times. And finally yesterday ARK/USD broke the previous all-time high. This could indicate the Ark is ready to go higher with a boosted momentum. The strong resistance and the upside target is seen at $25. This is where two Fibonacci retracement levels are inline. Only a break and close below the uptrend trendline could invalidate bullish outlook.
What is interesting is that previous upside target clearly has been acting as a strong support where price bounced off at least 3 times. And finally yesterday ARK/USD broke the previous all-time high. This could indicate the Ark is ready to go higher with a boosted momentum. The strong resistance and the upside target is seen at $25. This is where two Fibonacci retracement levels are inline. Only a break and close below the uptrend trendline could invalidate bullish outlook.
Comment:
I'd expect a rally in the coming days, stay tuned for updates
Comment:
Ark is back at the triangle trendline, could start rising from there
Comment:
still at the uptrend trendline, rejecting it