$STRK Surged 80% — Is a 10% Correction Coming Before the Next 20% Move?
Starknet has surged more than 80% over the past two to three days, accompanied by a sharp increase in trading volume.
One of the key catalysts behind the move came on October 8, when StarkWare CEO Eli Ben-Sasson discussed the possibility of Starknet transitioning from an Ethereum Layer 2 into an independent Layer 1, with the goal of accelerating its path toward quantum resistance by 2027.
Importantly, this transition is still under consideration and has not yet been finalized.
Technical Analysis
On the 4-hour timeframe, STRK successfully broke above the $0.051–$0.064 Resistance Zone with the help of an Ascending Scallop Pattern.
However, price is now approaching an important confluence area:
Potential Reversal Zone (PRZ): $0.079–$0.084
Cumulative Short Liquidation Leverage: $0.077–$0.081
After such an aggressive rally, I expect STRK to potentially face a correction of at least 10% from this area.
This pullback could serve as a retest of the broken Resistance Zone.
If that previous resistance successfully turns into support and broader market conditions remain favorable, STRK could then begin another bullish leg with a potential upside of 20% or more.
So while the broader momentum remains strong, chasing price directly into the PRZ may carry higher short-term risk.
What comes first for STRK?
🔴 10% correction and retest
🟢 Direct continuation higher
#STARKNET
Starknet has surged more than 80% over the past two to three days, accompanied by a sharp increase in trading volume.
One of the key catalysts behind the move came on October 8, when StarkWare CEO Eli Ben-Sasson discussed the possibility of Starknet transitioning from an Ethereum Layer 2 into an independent Layer 1, with the goal of accelerating its path toward quantum resistance by 2027.
Importantly, this transition is still under consideration and has not yet been finalized.
Technical Analysis
On the 4-hour timeframe, STRK successfully broke above the $0.051–$0.064 Resistance Zone with the help of an Ascending Scallop Pattern.
However, price is now approaching an important confluence area:
Potential Reversal Zone (PRZ): $0.079–$0.084
Cumulative Short Liquidation Leverage: $0.077–$0.081
After such an aggressive rally, I expect STRK to potentially face a correction of at least 10% from this area.
This pullback could serve as a retest of the broken Resistance Zone.
If that previous resistance successfully turns into support and broader market conditions remain favorable, STRK could then begin another bullish leg with a potential upside of 20% or more.
So while the broader momentum remains strong, chasing price directly into the PRZ may carry higher short-term risk.
What comes first for STRK?
🔴 10% correction and retest
🟢 Direct continuation higher
#STARKNET