Arkham (ARKM) Skyrockets 70%+ on China Tease—Will the Rally Last?

NOIDA (CoinChapter.com) — Arkham (ARKM), the native token of the blockchain analytics platform Arkham Intelligence, has seen a sharp price increase on March 11. ARKM price spiked over 70% to reach a daily high near $0.716 before paring gains later in the day.

This rally comes as broader market conditions remain mixed, with Bitcoin consolidating near $81,000 and Ethereum trading sideways around $1,900.

ARKM’s breakout stands in contrast to the broader market’s muted movement, as traders appear to respond to specific catalysts tied to Arkham’s latest developments. The most prominent is the recent announcement of “Arkham Exchange,” an initiative linked to the platform’s AI-driven blockchain analytics services.

A post on Arkham’s official X account referenced the launch in China, sparking speculation that the exchange could gain traction in the world’s second-largest economy. However, questions about accessibility and regulatory barriers in China have cast doubt on the move’s actual impact.

Speculation and Hype Fuel ARKM’s Surge

ARKM’s latest price spike appears to be driven more by speculation than confirmed fundamentals, largely fueled by Arkham’s two-step announcement strategy regarding its exchange launch in China.

The claim immediately ignited market excitement, leading to a 70% price surge in 24 hours. Traders interpreted the announcement as significant, betting on Arkham’s potential access to China’s vast crypto market.

Arkham clarifies exchange access, restricting certain jurisdictions.

However, shortly after, Arkham followed up with a more nuanced clarification, stating that eligibility requirements vary by jurisdiction and that users in certain regions may be unable to register. The clarification raised doubts about the exchange’s accessibility in China, suggesting it may target offshore markets instead.

The contradiction between the two statements suggests that Arkham may have framed the launch as a major milestone to drive attention, while later adjusting expectations to account for potential regulatory constraints.

Despite this uncertainty, the market reacted more to the first announcement than the clarification. Traders sentiment on X remained divided. Some called the move a “game changer,” while others questioned the feasibility of a crypto exchange operating in a country with a strict trading ban.

Beyond the China narrative, Arkham benefits from its AI-driven analytics, which enhance blockchain transparency and market intelligence.

The ARKM price has been in a downtrend since early Dec. 2024, with the token shedding nearly 83% of its price tag over the past three months.

Arkham Price Tests Key Support in Falling Wedge Formation

Another reason the ARKM price spiked recently is a bullish pattern. The token remains locked within a falling wedge pattern, a formation typically associated with bullish reversals but currently showing signs of weakness rather than strength.

A falling wedge consists of declining highs and lower lows, forming a narrowing structure. While it often precedes a breakout, ARKM’s price action suggests that bearish pressure remains dominant, as it recently tested a breakdown before re-entering the wedge.

The token came close to breaching the lower boundary, an event that would have confirmed a bearish continuation. Instead, it re-entered the structure, signaling buyers stepped in to defend the support zone.

The ARKM USD pair formed a bullish technical setup. Source: Tradingview

This reaction prevented further downside, but ARKM is not yet showing clear bullish momentum. The token must close decisively above the upper trendline to confirm a wedge breakout. Until then, price action remains at risk of renewed selling pressure.

If ARKM eventually breaks out upward, the projected price target would be calculated by adding the wedge height to the breakout level, putting a potential upside target near $1.04, a jump of nearly 89% from current levels. However, if bearish pressure resumes and ARKM fails to hold its recent re-entry into the pattern, a confirmed breakdown could send the token to lower levels, invalidating the bullish wedge setup.

For now, traders are closely watching whether ARKM can establish a higher low within the wedge or if selling pressure will force another retest of the lower boundary, potentially leading to a breakdown. The next few sessions will determine whether ARKM can regain strength or face further downside risk.