$ARK fell 17.8% in a day, and it did so on more than seven times its normal volume.
That volume number matters most to me. About 43.7M USDT traded in 24 hours, 7.3 times the 7-day average. A drop this heavy is not a quiet drift. People who bought the run were selling.
Context: ARK is still up 44.1% on the week. It ran from a 7-day low of 0.1695 to a high of 0.4262, and now sits at 0.2528, about 41% under that high. So roughly two thirds of the weekly gain is already gone, while $BTC added 0.48% on the same day.
Hourly RSI is 46.3. That is not oversold, so I do not see a clear bounce signal yet.
My view: no trade. I want volume to cool down first. If price holds above 0.25 as selling slows, the pullback may be done. A break back toward the 0.1695 weekly low would mean the whole move is unwinding.
#ARK #Pullback
That volume number matters most to me. About 43.7M USDT traded in 24 hours, 7.3 times the 7-day average. A drop this heavy is not a quiet drift. People who bought the run were selling.
Context: ARK is still up 44.1% on the week. It ran from a 7-day low of 0.1695 to a high of 0.4262, and now sits at 0.2528, about 41% under that high. So roughly two thirds of the weekly gain is already gone, while $BTC added 0.48% on the same day.
Hourly RSI is 46.3. That is not oversold, so I do not see a clear bounce signal yet.
My view: no trade. I want volume to cool down first. If price holds above 0.25 as selling slows, the pullback may be done. A break back toward the 0.1695 weekly low would mean the whole move is unwinding.
#ARK #Pullback
