Will ARPA Cryptocurrency Correct After Surging 43 in 24 Hours

CoinW.com reports:
ARPA cryptocurrency has surged by 43% in the past 24 hours, with its market value now exceeding $91 million.
Despite signs of overbought, ARPA continues to maintain a bullish momentum.
According to data, ARPA cryptocurrency has become the currency with the highest increase in the past 24 hours.
Despite some adjustments in the past 24 hours, the asset remains in the first place among the top 500 cryptocurrencies by market value.
ARPA cryptocurrency becomes the biggest winner.
In the past 24 hours, ARPA cryptocurrency has become the best-performing asset.
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Its value has surged by more than 43%, consolidating its position as the biggest winner.
This impressive growth has pushed its market value over $91 million. At the same time, its trading volume has surged by over 4000%, reaching an astonishing $378 million.
Correction signs.
Although ARPA cryptocurrency has experienced a significant increase, analysis of its daily chart shows signs of price adjustment.
After reaching a recent high of $0.0690, it has fallen by 4.33% and is trading around $0.0596 as it encounters resistance.
This correction may indicate the beginning of a consolidation phase or pullback before another potential price surge.
In addition, its trading price is well above the 50-day moving average, currently around $0.0413, indicating a bullish momentum driving the price higher.
This surge has also broken through the upper limit of the Ichimoku Cloud, marking a breakthrough.
However, this rapid price movement has raised concerns that the rebound may be overdone, as momentum indicators suggest a possible pause.
RSI and ATR indicate overbought and high volatility.
ARPA’s relative strength index (RSI) is at 74.28, in the overbought zone at the time of writing. When the RSI exceeds 70, the asset may face short-term adjustments as buying pressure decreases.
This is consistent with the price retracement from the daily high point, indicating that traders may be taking profits after ARPA’s rapid surge.
In addition, the average true range (ATR), which measures market volatility, has surged to 0.0053, reflecting increased volatility in recent trading days.
This increase in volatility is often accompanied by significant price fluctuations, suggesting that ARPA cryptocurrency may experience further volatility before entering a more stable trend.
The next development trend of ARPA cryptocurrency.
Traders should closely monitor ARPA cryptocurrency as it tests the resistance near $0.0690. A breakthrough at this level may push the price towards $0.075, confirming the continuation of its upward trend.
On the downside, immediate support can be found around $0.0548, with stronger support near the 50-day moving average at $0.0413.
Given the current overbought condition and increased volatility, ARPA may enter a consolidation phase before the next major price movement.
A period of consolidation may cool down technical indicators such as RSI, paving the way for a medium-term rebound.
However, if ARPA fails to maintain key support levels, it may face a deeper retracement towards $0.050 or lower.