Starknet (STRK) Price Breakout: Ready for a Surge?

8月13日

From March 2024 onwards, the Starknet price has dipped and lost grip leading to pessimism in its price behavior. The dip in the price of STRK has led to the formation of a converging downward channel.

The plummetation precisely began after the failure to pierce the $2.78 ATH by mid-March 2024 and landed to $1.11 by mid-April 2024.

Thereon, in April and May 2024, Starknet crypto struggled to surpass the $1.36 resistance level, eventually falling below the psychological $1 mark by mid-June 2024, due to strong selling pressure. The chart now shows a breakout after a rebound from the ATL $0.317, that coincided with the main trendline.

If the price retests the trendline after the breakout, it could gain bullish momentum contingent on bulls. Especially, if trading volume erupts massively, then it could potentially lead to a significant uptrend.
Price Forecast And Indicators Overview of Starknet (STRK) Price

Therefore, in case of a bullish resurgence, then the resistance could be found around at $0.637, and $1.068, respectively.

However, if the price faces resistance and falls below the trendline, it could result in a fake breakout, followed by extended sharp selling.

With the recent technical indicators, the overview showed that the RSI has triggered a golden crossover with its moving averages, suggesting that the STRK price may have found a bottom and is poised for a reversal. Likewise, the MACD has formed a bullish cross too, where the histogram digit has gone green to 0.006.