Arkham Intelligence, which is an AI company supported by OpenAI, announced a new partnership this week in blockchain security. Arkham integrated its on-chain data with the crypto insurance platform InsurAce. This integration could help detect anomalies early and reduce insurance risks. On the chart, ARKM is moving toward the end of a symmetrical triangle pattern.
Symmetrical Triangle Structure
When we analyze ARKM on a daily time frame, we see that the recent price action between $0.5544 – $0.5023 shows that the triangle is almost complete. The apex of the triangle matches the first days of September, meaning the next few daily candles will be very important.If the price makes a clear breakout above $0.5544, buyers will take control. But if $0.4850 breaks down, we may see a sharp move to the downside.ARKM is currently trading around $0.5140, sitting in the middle of the triangle. The zone $0.5023 – $0.4850 acts as both horizontal support and the lower border of the triangle.On the upside, the levels $0.5544 – $0.570 are both the triangle’s upper border and a strong resistance area from the past. If the price moves above this zone, the next targets are $0.6119 and $0.6337. However, until the triangle breaks upward, these targets are still early to expect.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during trades.
