Hourly RSI at 81.6 is the first thing I check on $STRK tonight, and it is the reason I am not chasing this one.
The move itself is strong. STRK is up 48.4% in 24 hours to 0.1028 and 89.6% over seven days, while BTC did 0.6%. Price is only 2.5% under the weekly high of 0.1054, and volume is 67.6 million dollars, about 2.9 times its weekly average. That is real money behind it, not a thin book.
But I watched almost the same setup on MAGIC this week. I posted it at 0.1551 with RSI near 88 and price close to its high, and 15 hours later it was 0.1042. One example proves nothing, but it is fresh enough that I take the warning seriously.
Two levels for me. A clean break above 0.1054 with volume holding near this pace would mean buyers are still pushing, and I would accept I was too cautious. If it slips back under 0.09, a big part of today's gain is gone, and I would read it as the same cooling we saw on the other coins that ran this week. Until one of those happens, I would rather wait for RSI to cool off than buy at the top of the range.
#Starknet #STRK
The move itself is strong. STRK is up 48.4% in 24 hours to 0.1028 and 89.6% over seven days, while BTC did 0.6%. Price is only 2.5% under the weekly high of 0.1054, and volume is 67.6 million dollars, about 2.9 times its weekly average. That is real money behind it, not a thin book.
But I watched almost the same setup on MAGIC this week. I posted it at 0.1551 with RSI near 88 and price close to its high, and 15 hours later it was 0.1042. One example proves nothing, but it is fresh enough that I take the warning seriously.
Two levels for me. A clean break above 0.1054 with volume holding near this pace would mean buyers are still pushing, and I would accept I was too cautious. If it slips back under 0.09, a big part of today's gain is gone, and I would read it as the same cooling we saw on the other coins that ran this week. Until one of those happens, I would rather wait for RSI to cool off than buy at the top of the range.
#Starknet #STRK