STRK/USDT Technical Analysis
STRK has finally broken above the falling wedge formation it has been trading in for a long period. The price of the coin has now reached the first resistance zone of $0.153 - $0.162 which worked as a strong resistance and support area in the past.
In case the price continues to rise after the breakout, it can be expected to test upper resistance levels gradually. The levels of $0.190 and $0.222 are key resistance levels to follow in the short and mid term.
In order for the upward momentum to continue, it is important that the price of the coin hold above the level of $0.153, below which we should be following the support levels of $0.128 and $0.101.
Summary:
- Falling wedge formation has been broken upward.
- The price meets resistance level of $0.153 – $0.162.
- If this resistance gets broken, the targets to folow are $ 0.190→ $0.222 → $0.235 → $0.280.
- Support levels in case of a pullback are $0.128 → $0.101.
- If the breakout gets confirmed , the target of the formation in the mid term is $0,28
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However,traders are responsible for their own actions and risk management. Morover, it is highly recommended to use stop loss (SL) during trades.
