Starknet’s (STRK) Price Could Increase by Another 80% — Can It Clear This Resistance?

Following months of consolidation between $0.10 and $0.17, momentum indicators flashed bullish divergences, signaling a potential trend reversal.

Starknet Price Breaks Out

The weekly time frame chart shows that the price of Starknet broke out from a long-term diagonal resistance last week, and the token is continuing its surge this week.

This upward movement follows months of consolidation within the $0.10 to $0.17 range.

During this time, the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) created bullish divergences.

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After the divergences played out, the STRK price broke out from the diagonal resistance, which had stood for 620 days.

The $0.350 area had previously provided support, so it will likely turn into resistance if the Starknet price reaches it again. 

A possible breakout from this level will confirm that a bullish trend reversal is underway.

Alternatively, a rejection could trigger another decline, paving the way for a new STRK all-time low.

Why is Starknet Going Up?

The weekly time frame price action shows that Starknet has completed a five-wave downward movement (red) since February 2024.

A symmetrical triangle in wave four confirms this count, ending at the wave five all-time low.

After a five-wave downward movement, the price has either begun an upward A-B-C correction, which refers to a typical three-part corrective pattern in Elliott Wave Theory, or a new five-wave upward movement.

While the outcome remains unclear, both scenarios lead to higher prices, with the first target at $0.350.

In the short-term, the price of STRK is completing wave four in a five-wave upward movement (green).

Therefore, after a short-term decline that completes wave four, the STRK price could begin the fifth and final wave, which would take it to $0.350.

The price’s reaction at that level will determine the future trend.

Next Resistance Will be Crucial

If STRK maintains its current momentum, a move to $0.350 is likely in the coming weeks.

However, a rejection at that level might trigger another downturn and possibly new all-time lows.

The price’s reaction to this zone will determine if the rally will continue in the long-term.

About the Author

Valdrin Tahiri

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.

He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.

Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.

He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

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