StarkNet's native token STRK is currently navigating a corrective phase following an impressive rally last month. Despite recent bearish trends, there are emerging signs that suggest a potential recovery could be on the horizon for investors. The publication provides the following information:
Market Overview
After experiencing a remarkable 200% surge in value last month, STRK has seen a decline of over 15% in the past week, prompting a more cautious outlook among traders. This pullback has raised concerns, yet technical indicators are beginning to show a possible shift in momentum. Notably, the Relative Strength Index (RSI) is forming higher lows, while the price continues to create lower lows, hinting at a potential bullish divergence.
Potential Price Targets
Should this positive momentum materialize, the first target for upward movement is anticipated at 0.1300, with significant resistance levels identified between:
- 0.1550
- 0.1600
Support Levels and Risks
However, if STRK fails to maintain its position above the immediate support level of 0.1100, the anticipated bullish divergence may not come to fruition, increasing the risk of a retest towards the psychological support zone of 0.1000.
Recent unverified claims about ChatGPT's predictions for AVAX and SOL have raised concerns among investors, contrasting with the cautious outlook on STRK's recent performance. For more details, see further information.
