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