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- 1 The Ark crypto price bounced back retracing from the 200 day EMA, suggesting a positive outlook in the short term.
- 2 ARK crypto was at $0.864, recording an intraday drop of 1.61% at press time.
The Ark crypto price has been hovering back and forth in the recent couple of sessions, unable to find a clear direction. The crypto rebounded after falling below the 200-day EMA in the last week, indicating buyers’ presence at the lower levels.
Recently, it was observed that the buyers were aggressively bullish in the last couple of days after the price seemed to bottom out, taking support from the 200-day EMA. This helped the short-term traders and Investors gain nearly 15% in just a week.
Earlier, the price was in a continuous declining phase for the last couple of weeks. The price dropped after topping out near a round level of $2 at the end of November. The price dropped lower, breaking below the 20 day and 50 day EMAs.
Moreover, the earlier sessions of this week might decide a clear trend in the short-term. On Monday, the crypto is trading with low volume and volatility and is delivering a sideways outlook.
At the time of writing, the Ark cryptocurrency was at $0.864 with an intraday loss of 1.61%. Additionally, it has a market capitalization of nearly $156.258 Million after the intarday loss. The volume to market cap ratio is 46.64%, suggesting high volatility in the crypto.
Ark Price Trend Analysis
The Analysis of the ARK/USD crypto chart over the daily time frame shows that the crypto maintained a strong outlook which continued from October 2023 to November 2023. The ARK price was sustained above the 20 day EMA for most of the time, suggesting a strength over the charts.
However, the price fell sharply in December 2023 after consolidating near $2. The price has currently reached near the 200 day EMA and shows the formation of a double-bottom pattern.
Now, the price has showcased signs of positivity at the lower levels and the 200 day EMA, signifying the presence of buyers at the lower levels and the price may surge higher again to resume its long-term bullish trend.
However, If the buyers fail to drive the price higher and the price loses momentum, it might create an opportunity for the sellers to drag the price down to bearish territory again.
At the time of writing, the RSI was at 53.37 points and that of the 14-SMA line was at 45.62 points. The RSI line has made a bullish crossover with the SMA line, suggesting a positive outlook.
Ark Price Prediction January 2024
The bearish outlook of the analysts shows that the price has more room to decline till the 200 day EMA and could drop to a low of $0.742 by the end of the month. The positive view of the analysts hopes that the price could reclaim the $1 level on the daily chart.
Ark Price Prediction 2024
The price forecast for the year 2024 highlights that the ARK token price could reach a high of $1.477, suggesting a potential gain of over 70.49%. On the other hand, the bearish outlook of the analysts predict that the price could reach $1.182 by the end of the year.
Ark Price Prediction 2025
By the year 2025, the ARK token price may attain $2.21 as the highest price. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $1.588.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
