Ark (ARK) aims to create an entire ecosystem of linked blockchains. On Mar 4, 2019, a core update (Core v2.2) was announced. It is planned for Mar 11.
Slight increases in value have been observed since Mar 4. As the update grows nearer, the price may continue to rise. However, if the update does not generate investor and trader attention, it may have little effect on the overall price.
Key Highlights
- A flash crash caused rapid decreases in Ark’s value on Feb 17. A second market-wide flash crash followed on Feb 24.
- Ark is currently trading below the lows experienced after the second crash.
- Price recently broke out of a descending wedge.
- The breakout was preceded by bullish divergence.
- There are resistance areas near $0.61, $0.65 and $0.72.
The Start of The Drop
After reaching highs of over $0.80, Ark suffered a flash crash on Feb 17, 2019. Its price fell to around $0.56. After a weak rebound, the price continued to make lower lows until a second flash crash occurred on Feb 24.
The Descending Wedge
After the crash of Feb 17, the unsuccessful rebound attempt ended at $0.07.
Identifying The Divergence
The moving average convergence divergence (MACD) is a trend indicator that shows the relationship between two moving averages (long and short-term) and the price. It is used to gauge the strength of a move. The relative strength index (RSI) is an indicator which calculates the size of the changes in price in order to determine oversold or overbought conditions in the market.
After The Breakout
Resistance areas are formed when the price reaches a certain level several times. They can act as a ceiling that prevents the price from breaking further upward. In the case of a breakout, they can be used to effectively predict where price movements will come to a stop. Ark broke free of the resistance line on Mar 5.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
READ FULL BIO
Sponsored
Sponsored