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Starknet’s STRK has had a difficult past year, recording multiple lows and declining by nearly 59% over the period. In the current trading session, however, the token rallied by 13%, with technical indicators suggesting the sell-off may be starting to reverse.
STRK’s latest move followed a break above the resistance level of a cup-and-handle pattern on the chart. After the breakout, the asset pushed higher, consistent with the pattern’s reputation as a bullish continuation structure that can appear ahead of a sustained rally.
Despite the rebound, STRK is likely to face a major hurdle at the 1.0 Fibonacci resistance level. A successful breakout above this level could shift the market into a more bullish phase and raise the likelihood of a continued move toward a new local high around $0.065.
If STRK fails to clear the resistance, the move could stall, potentially leading to another decline or a consolidation phase around the current resistance zone.
The Moving Average Convergence Divergence (MACD) indicator shows a bullish setup. It has formed a bullish golden cross, supporting the latest rally and suggesting bullish momentum remains intact.
Traders are also watching the MACD histogram bars. Continued expansion of the green histogram bars would indicate stronger momentum and a higher probability that the upward move can continue.
Chaikin Money Flow (CMF), which helps track whether buying or selling pressure dominates, has turned positive. At the time of writing, CMF was around 0.12, indicating that buying volume has begun to outweigh selling pressure—an outcome that typically supports higher price movement.
While STRK has performed strongly in the current session, on-chain capital activity remains relatively weak. Starknet’s total value locked (TVL) has declined by roughly $117.92 million since its peak on January 17, indicating ongoing liquidity outflows.
TVL currently stands at around $205.47 million, reflecting a modest 1% increase over the past 24 hours. Meanwhile, decentralized exchange (DEX) trading volume on the network has improved gradually, rising from about $3.15 million on May 2 to approximately $8.79 million at the time of writing.
A sustained increase in on-chain capital inflows would be a key factor for STRK’s broader market outlook and longer-term recovery prospects.
STRK has posted a sharp upswing, but key resistance levels—particularly around the 1.0 Fibonacci level—remain a significant obstacle. On-chain capital conditions are still weak, with TVL down from its peak, even as DEX trading volume shows gradual improvement.
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