Starknet Sees Key Demand Zone Cross – Smart Money Anticipates Continued Rally!

Starknet (STRK) has once again shown bullish momentum, marking a significant retest of previous range highs as a demand zone. As smart money sees opportunities for profit, investors expect further gains in the near future.

Key Takeaways

The retest of the previous range highs signals that STRK is likely positioned for a rally.
Fibonacci extension levels suggest that $0.29 and $0.34 could be the next bullish targets.
Over the past 24 hours, STRK surged by 21.5%, partially influenced by Bitcoin’s 1.54% price increase.
Altcoins perform well when Bitcoin stabilizes or climbs, benefitting STRK traders.
Recent reports highlighted the $0.19 region as a key demand zone, showing strong buyer responses post-retest.
Notably, a big player in the market opened a long position worth $6.7 million just three days ago, currently yielding a profit of around $2.5 million.

Starknet crosses key demand zone - Smart money expects rally to continue!

Why a Potential 33%-55% Rally for Starknet Could Begin Soon

STRK 4-hour Chart Source: STRK/USDT on TradingView

Analysis of the 4-hour chart indicates a bullish pattern, characterized by a series of increasing swing highs and lows in November. Currently, the $0.197 range high, which served as resistance a week ago, is now being defended as support.

This support has set the stage for the MACD indicator, which is poised to create a bullish crossover, suggesting further upward momentum may be on the horizon. However, the CMF (Chaikin Money Flow) shows a reading of -0.09, highlighting a lack of steady demand—a cautionary signal for bullish traders.

By applying Fibonacci retracement and extension levels from the recent rally, the 23.6% extension at $0.2466 is acting as resistance, leading to a retracement. As the market recovers, target prices increase to the 61.8% and 100% extension levels of $0.2935 and $0.34, respectively. Furthermore, the $0.2578 level is crucial, marking an important lower high on the 1-day timeframe.

Disclaimer: The information contained in this article does not serve as financial, investment, trading, or any other type of advice and reflects solely the opinion of the writer.