- A 35% jump in Starknet value has pushed it to trade at $0.18.
- STRK’s daily trading volume has exploded by over 361%.
The fear sentiment is lingering across the assets, with a 3.90% uptick in the market. This has brought some green candles after blowing the reds. Will the uptrend hold strong, or will it start to fade away? Currently, the majority of the digital assets are in the green zone. Among them, Starknet (STRK) has posted an impressive gain of over 35.49%.
In the morning hours, the asset traded at a bottom range of $0.1374. After the bulls took control, STRK tested and broke the crucial resistance between $0.1380 and $0.2130 zones, and the price climbed to a high of $0.2138. Upon the bulls holding the momentum upward, the price movement will see additional gains.
With the recovery, Starknet is currently trading at around $0.1879, with a market cap of $910.14 million. In addition, the daily trading volume has exploded by over 361%, reaching the $609.75 million mark. As per the Coinglass data, the market has experienced a liquidation of $4.03 million worth of STRK in the last 24 hours.
Can Starknet Maintain Its Bullish Streak?
Starknet’s MACD line has crossed above the signal line implying a bullish crossover, a sign that upward momentum is building. The asset’s price could continue to rise if the trend holds. Moreover, the CMF value of 0.37 points out strong buying pressure in the STRK market. Also, the money is flowing into the asset, showing that the demand is outpacing selling activity.
On the 4-hour price graph, Starknet shows a positive outlook, with the formation of green candlesticks. The price could climb to the crucial resistance at $0.1892 level. With the bulls gaining more traction, the price might climb to new highs. Assuming a reversal of Starknet, the bears would pull the price back to the support range at $0.1866. Further correction on the downside may trigger the price to slip even lower.
Notably, the daily RSI of STRK found at 81.94 signals that it is currently in the overbought territory. The price is nearing a potential pullback or correction if buyers start to cool off. Starknet’s BBP reading of 0.0831 hints at a slight bullish edge in the market. The buyers are maintaining mild control, giving the signs of upward momentum, though not very strong yet.