At the time of writing, Starknet (STRK) was trading at $0.438. It had hit an intraday high of $0.444. It’s up 28% from its weekly low, showing strong upward progress even though the altcoin market as a whole is going down.
The STRK market is going up because the environment is growing significantly. According to data from DeFiLlama, the total value locked (TVL) on the network has gone up by an amazing 549%, from $36.91 million at the beginning of the year to $239.41 million now.
The rise in TVL shows that people are becoming more confident in the Starknet platform, which has helped STRK’s recent gains.
Starknet Bolt Upgrade Success
Vitalik Buterin, co-founder of Ethereum, unlocked $470,000 worth of Starknet tokens, which sparked more attention and trading. This was a major factor in STRK’s rise.
The recent Starknet Bolt Upgrade, which ended on August 28, also helped STRK’s progress by speeding up the network and lowering costs by allowing parallel processing and block packing.
The renewed optimism about the token has caused trade volume to rise 140% in just 24 hours, which adds to the positive mood.
Crypto analyst Falcão said on the social media site X that STRK is ready for a big rally and that $0.45 is a key horizontal support level. He thinks that an enormous price jump will happen if the price breaks out of this level, along with more trades and stronger momentum.
Crypto expert CryptoJack agreed with these thoughts and said that STRK is getting close to a key resistance point at $0.45. If the token breaks through this level, it could break out of its current range-bound pattern and head toward $0.60 as its next goal.
Both analysts think that $0.45 is a key level of resistance for STRK. If it can be broken through, it could lead to substantial upside. The 1D STRK/USDT chart shows technical indicators that support this bullish view.
For example, the Relative Strength Index (RSI) rose to 60, which means there is more room for growth before the market becomes overbought.
The Moving Average Convergence Divergence (MACD) indicator shows that STRK is moving above the neutral line and the blue MACD line is beginning to cross above the orange signal line. This is more proof that the price is going up.
As STRK gets closer to the important resistance level at $0.45, a break above it could mean a strong move upward, possibly aiming for the next level of resistance near $0.60.
