STRK Striking a bullish scenarioSupport and Resistance Levels:
Primary Support: Located at $1.128.
Immediate Support: This is shown as a trendline moving upwards, intersecting current price levels around $1.20 to $1.28.
Weekly Resistance: Range from $1.33 to $1.40.
Primary Resistance: Located at $1.678.
Other Significant Levels:
$1.40 (Resistance)
$1.51 (Target after breakout)
$1.676 (Primary Resistance)
Indicators:
Stochastic RSI: Currently showing values of 54.37 and 46.95, indicating a neutral to slightly bullish momentum. If the %K line crosses above the %D line, it would suggest a stronger bullish signal.
Volume: CVD indicates healthy buying volume, supporting the potential for a breakout.
Trend Analysis:
The price has been in a consolidative phase within the weekly resistance range of $1.33 to $1.40.
The recent price movement shows an attempt to break out of this range.
If the price breaks above $1.40, it could signal a bullish continuation towards higher targets like $1.51 and $1.676.
Support Levels:
The primary support level at $1.128 is critical for maintaining the bullish outlook. A break below this could indicate further downside risk.
Immediate support is provided by an ascending trendline, which has been tested multiple times and is currently holding.
Resistance Levels:
Immediate resistance is at the weekly resistance zone ($1.33 to $1.40). A clear breakout above $1.40 is necessary for further bullish momentum.
The next significant resistance after the weekly zone is $1.51, followed by the primary resistance at $1.676 and $1.678.
Price Projections:
A successful breakout at $1.40 could propel the price towards $1.51 initially.
Further targets include $1.676 and $1.678 if bullish momentum sustains.
The chart suggests a consolidative phase with potential bullish breakout scenarios. Key levels to watch are $1.40 for breakout confirmation and $1.128 for support. The overall outlook remains bullish as long as the price stays above the immediate support trendline and primary support level at $1.128.
Important: Potential investors should carefully consider the risks involved in cryptocurrency trading.
