Will STRK Break Hurdles Above And Rise Ahead?
Over the daily chart from March 2024, Starknet's price plunged and turned investors' gains into losses. The plummetation in STRK price led to the formation of a converging downward wedge pattern.
The fall began after the failure to break past the $2.780 (ATH) on March 13th, 2024. The fall took a halt at $1.11 by mid-April 2024 and caused many to think of that very sideways action as a sustenance, which failed.
The Consolidation in price kept the movement in a horizontal range. STRK struggled to surpass the $1.36 resistance level. This struggle led to a fall below the psychological $1 mark and reached $0.460 by mid-July 2024, coinciding with the channel's lower border.
On July 5th, the price attempted to rise, but this time, it did not even manage to cross beyond $0.637 and deteriorated more in the rest of the month of July.
Now, as observed above, similar to April's earlier sideways movement has started in August 2024, too.
Now, from a price point of view, if it repeats April's action, then a downtrend could stretch more, followed by lower levels to come.
On the contrary, if this price action of August is indeed a breakout, then the STRK must show a bullish confirmation by crossing above $0.637. Then STRK could potentially enter a major uptrend.
