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Market Analysis

ARK Analysis Tuesday 16th April

One of the most volatile and “wicky” crypto’s, ARK’s uptrend since the turn of the year, looks like it has reached a key point. Having respected the ascending trendline immaculately so far; the reaction to the break and re-test hold the key for the short-term price.

There are three key zones to take note of. The current $0.6234-0.6413 zone has previously been a consolidation area, which may be repeated if we do not break out to either side very soon. A downside break can find support between $0.5496-5711.

A break back above the trendline will find key resistance at $0.7330-0.7604 with the current top-end level  being $0.8887.

Short-term bias will have to be determined as the week progresses; with eyes peeled to whether or not price action can climb back above the trendline, or keep falling.

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