โ ๏ธ $STRK : -20% in 24h after touching 0.1265 ๐
The rally driven by the quantum Layer 1 narrative was brutal: from 0.022 to 0.1265 in just a few weeks. Now profit-taking has arrived.
๐ Daily chart
Price: 0.093 (24h low: 0.0897)
Large red candle after a parabolic high
RSI is still at 66 and MACD is positive, but both are starting to lose momentum
Far above the moving averages: EMA20 at 0.063 and EMA50 at 0.047
๐ Levels
Support 1: 0.0897 (today's low)
Support 2: 0.070 (Supertrend)
Support 3: 0.063 (EMA20)
Resistance: 0.1265 (high)
๐ And the unlock is still ahead
On October 15, ~127M $STRK will be unlocked, close to 1.7% of the circulating supply. Also, the migration to L1 has no date or defined plan. (usethebitcoin) (coincodex)
๐ฏ My take: the catalyst is narrative-driven, and the price has already risen too quickly. Trying to catch the "dip" after a 20% drop is risky: I prefer to wait and see if it holds 0.070 before considering an entry.
โ How far will $STRK correct?
๐ข Holds 0.09
๐ด Visits 0.07
โ ๏ธ Not financial advice. DYOR.
#STRK #STARKNET t #Layer1 #TechnicalAnalysis #BinanceSquare
The rally driven by the quantum Layer 1 narrative was brutal: from 0.022 to 0.1265 in just a few weeks. Now profit-taking has arrived.
๐ Daily chart
Price: 0.093 (24h low: 0.0897)
Large red candle after a parabolic high
RSI is still at 66 and MACD is positive, but both are starting to lose momentum
Far above the moving averages: EMA20 at 0.063 and EMA50 at 0.047
๐ Levels
Support 1: 0.0897 (today's low)
Support 2: 0.070 (Supertrend)
Support 3: 0.063 (EMA20)
Resistance: 0.1265 (high)
๐ And the unlock is still ahead
On October 15, ~127M $STRK will be unlocked, close to 1.7% of the circulating supply. Also, the migration to L1 has no date or defined plan. (usethebitcoin) (coincodex)
๐ฏ My take: the catalyst is narrative-driven, and the price has already risen too quickly. Trying to catch the "dip" after a 20% drop is risky: I prefer to wait and see if it holds 0.070 before considering an entry.
โ How far will $STRK correct?
๐ข Holds 0.09
๐ด Visits 0.07
โ ๏ธ Not financial advice. DYOR.
#STRK #STARKNET t #Layer1 #TechnicalAnalysis #BinanceSquare