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Ark (ARK) surged almost 21% to $0.57 in the past 24 hours, moving past its earlier resistance level of $0.48 after bouncing up from its support level at $0.40.

Trading volume was $171 million, reflecting a remarkable 136% gain for the day.

This performance has attracted more buyers, propelling it to its current resistance point at $0.59 and allowing sellers to recover their losses.

ARK Breaks Out of Falling Channel

ARKUSDT Chart Analysis. Source: Tradingview.com

ARK has broken out of the falling channel after a prolonged bearish trend that caused losses for the bulls.

However, the falling channel, characterized by two lower highs and two lower lows, has provided support to the bulls, enabling them to push the price up to the current resistance point at $0.59.

Nevertheless, this point forms a double-bottom pattern, which could impede further gains for the bulls and trigger a rapid correction down to the $0.53 support level.

The price indicators display bullish signals for ARK’s price as the 50 and 200 moving averages are trading below $0.47 and $0.49, respectively.

Additionally, the relative strength index (RSI) shows a rebound from the oversold region of 30 and is now trading above the overbought region, ranging from 70 to 85.

However, it has faced rejection as it approaches the 70 mark. This suggests strong buying pressure for ARK, with the expectation that the RSI will rebound from this level.

ARK is Bullish

ARK is currently bullish, with price indicators supporting this optimistic sentiment. If the price maintains its momentum, there is potential for ARK’s price to reach new highs as the bulls aim to reclaim the resistance level at $0.59.

Conversely, the bears may seize the opportunity during the correction and target the $0.53 support zone. A breach below this support level could erode more of the bulls’ gains, potentially pushing the price down to the $0.45 support level.

Meanwhile, Meme Kombat is poised to become the next big meme coin sensation, potentially outperforming ARK. With its enticing presale offer and features like S2E and P2E, investors should consider it an alternative to ARK.

Meme Kombat: Revolutionizing Meme Coin Gaming with Decentralization and Staking

Meme Kombat, a meme coin battling platform, has successfully raised $320,697 to kick off its ICO, sealing almost a third of its initial $1 million fundraising target.

The #MemeKombat #Presale is going rather well, old sport 🚀 pic.twitter.com/PFozEvmYq2
— Meme Kombat (@Meme_Kombat) October 5, 2023

Meme Kombat combines gaming, meme coins, and gambling within its platform, creating a unique ecosystem where popular meme characters engage in battles and users can place wagers on the outcomes.

Once it has you, it’s hard to escape. #MemeKombat pic.twitter.com/UOKeHiteVp
— Meme Kombat (@Meme_Kombat) October 5, 2023

Meme Kombat uses a completely decentralized Web3 system, focusing on trust and transparency. Users can buy Meme Kombat tokens ($MK) for $1.667, with the platform offering updates on X (formerly Twitter) and Telegram.

Unlike meme coins like Dogecoin, which lack utility features, Meme Kombat offers staking opportunities for users to earn a passive income with an enticing annual yield (APY) of 112%. This yield is supported by tokens allocated to community rewards, ensuring a low level of risk.

Crypto Influencers and Audits Validate Meme Kombat’s Potential

Meme Kombat, which aims for a modest funding target of $1 million, is on track for success, particularly given its early support.

Things are happening… People are talking.. #MemeKombat pic.twitter.com/sbPwA3GGP6
— Meme Kombat (@Meme_Kombat) October 5, 2023

Crypto influencers such as Joeparys, with 382k subscribers, provided an honest review of this rising meme token in a recent video, stating that it is a 100x potential meme coin.

Recently, No Bs Crypto shared information about the new meme coin with his subscribers, suggesting it could overshadow PEPE.

Additionally, Coinsult conducted a security audit of the Meme Kombat smart contract. The project’s website currently features a direct link to the complete audit report, ensuring easy access to the results.

At $1.667 per token, MK tokens can be purchased using ETH, BNB, or USDT (ERC-20 and BEP-20) by connecting your Web3 wallet to the Meme Kombat website, making it an attractive investment option in the meme coin sector.