$STRK That was a proper fall, not a fake-out. The 4-hour close broke straight below the previous low of 0.07173, confirming a downside breakout. The downtrend left the bulls no room to step in. The current price is 0.07174, down 14.81% over 24 hours, basically grinding right around the previous low.
Among mid-cap coins in the public blockchain sector, this one is clearly tied to the broader market. When the market weakens, it’s one of the first to give way. I just wrote about its unusual move the day before, and today’s price action, with volume confirming the decline, looks more like it’s catching up on losses than shaking out weak hands.
The bearish gap at 0.07453–0.07593 is still overhead. Until sentiment recovers, any rebound is just walking into a trap. The drop hasn’t been especially brutal, but the drawn-out, messy price action is pretty frustrating.
Among mid-cap coins in the public blockchain sector, this one is clearly tied to the broader market. When the market weakens, it’s one of the first to give way. I just wrote about its unusual move the day before, and today’s price action, with volume confirming the decline, looks more like it’s catching up on losses than shaking out weak hands.
The bearish gap at 0.07453–0.07593 is still overhead. Until sentiment recovers, any rebound is just walking into a trap. The drop hasn’t been especially brutal, but the drawn-out, messy price action is pretty frustrating.