STRK Price Surges 80%: Is $1.71 the Next Target?

Published by

Sohrab Khawas

November 27, 2024

With a newfound rally, the STRK price exceeds a long-standing sideways trend in a bull market. Following the breakout, the bulls anticipate a post-retest reversal on the horizon.

Will the post-retest reversal in the STRK price trend result in a jump to the $0.953 mark? Check out Coinpedia’s latest price analysis of Starknet to find out more.

Starknet (STRK) Price Performance

In the daily chart, the STRK price trend focuses on the resistance trendline takeout rally gaining momentum. Starting the recovery rally from $0.336, the trend has now increased by nearly 80%.

Currently, the STRK price is at $0.606 with an intraday gain of 5.01%. The ongoing rally showcases a consolidation range breakout.

The consolidation range extended between $0.34 and $0.55. These boundary lines coincided with the Fibonacci base level and the 23.60% level.

Technical Indicators:

EMA: As the recovery rally gains momentum, the 50-day and 100-day EMA are preparing for a bullish crossover.

MACD: The massive moonshot rally in MACD and signal line continues with the STRK price recovery.

Will Starknet Price Hit $1.71?

Currently, the STRK price trend retests the consolidation range breakout and is preparing for a post-retest reversal. The intraday growth makes a bullish engulfing candle and completes a morning star pattern. This improves the chances of an extended bull run.

Based on the Fibonacci levels, the upside target is at $0.953, followed by $1.71. On the flip side, the crucial support remains the 50-day EMA at $0.462 and the bottom level of $0.34.

Curious about the Ethereum price rally in 2025? Read our Ethereum (ETH) Price Prediction for 2025 price targets and beyond!

FAQs

What triggered the recent STRK price rally?

The rally was triggered by a consolidation range breakout between $0.34 and $0.55, supported by bullish technical indicators like MACD momentum and EMA alignment.

What are the key resistance levels for STRK?

The key upside targets for STRK are $0.953 and $1.71, as per Fibonacci retracement levels.

What could halt STRK’s bullish momentum?

A drop below the 50-day EMA at $0.462 or the bottom level of $0.34 could invalidate the bullish setup and lead to a downtrend.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Published by

Sohrab Khawas

Tags: Price Analysis