Starknet price prediction: What’s next after 30% gains in 3 days?

STRK

As a seasoned crypto investor with a few battle scars and a heart full of hope, I find myself at a crossroads with Starknet [STRK]. The recent surge has been nothing short of exhilarating, but my experience tells me that every rally comes with its own set of challenges.

As an analyst, I’ve noticed that Starknet [STRK] has experienced a significant surge over the past three days, increasing by approximately 29.74%. However, within the last two hours leading up to this moment, there was a minor pullback of around 2.5%. Despite this temporary dip, my technical analysis suggests a robust bullish outlook for Starknet.

For approximately five months now, starting from early April, the value of this token has consistently decreased. Over this period, from the 8th of April up until the 23rd of September, a significant loss of 81.8% in the coin’s value was observed.

The current advancements are heartening, yet there’s a chance that investors who initially bought in might be looking to sell at breakeven point.

Starknet price prediction

Starknet price prediction: What’s next after 30% gains in 3 days?

Looking on the positive note, after a prolonged drop, there was a period of fluctuation or sideways movement from around August until close to the end of September.

During a three-month period of consolidation and subsequent breakout, there was an optimal moment for amassing resources (accumulation), and this breakout occurred with significant trading activity.

Over the last fortnight, it’s clear that the OBV surpassed the local peaks, indicating a substantial increase in demand. Additionally, the Daily Relative Strength Index (RSI) emphasized the robust pace of this rise.

For STRK, the potential price points to aim for next could be the previous support level of around $0.51 and the resistance level that was established in July at approximately $0.62. Those who invested after August may think about realizing their profits, but earlier investors might have different strategies in mind.

Instead of hanging onto a coin, are they opting to wait for its value to surge by roughly 300% – 400% to return to the level it was at in April?

Or, instead, are they attempting to exit their investment in STRK at a point that is nearly breakeven, then moving on to another cryptocurrency they believe has greater potential for success?

Those who thoroughly researched the token and remained steadfast in their belief were the ones who continued to hold it. It’s these individuals who are prepared to endure prices of $2 or more, however, they might constitute a smaller group.

Futures data shows price volatility ahead

Starknet price prediction: What’s next after 30% gains in 3 days?

There had been a significant increase in cumulative liquidation levels difference, suggesting potential compression of long positions. It was plausible for the price to fall to around $0.47 and $0.44 within the next 24-48 hours.

If this dip occurs, it might present a chance for purchasing, as long as the current spot CVD doesn’t plunge excessively. Meanwhile, the Open Interest indicates a market that is optimistic about growth in a bullish manner.

Realistic or not, here’s STRK’s market cap in BTC’s terms

Over the last two days, there’s been a significant drop in the long-to-short account ratio. This suggests that a large number of long positions have been liquidated as the price surged, although the bulls still held an advantage. However, the sharp decline warns of potential market reversal.

The market might need time and a minor retracement before it can advance higher.

2024-09-27 07:03

Starknet price prediction

Futures data shows price volatility ahead

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