The cryptocurrency investment community is poised for a significant token release event, with the Starknet network’s native token STRK scheduled for unlocking. This event is part of a larger series of token unlocks in the market, anticipated to total a value of nearly $455 million for the upcoming week.
Impending STRK Token Influx
On the verge of this considerable unlock, which is expected to liberate 8.79% of STRK’s total circulating supply valued at $95.36 million, investors are bracing for potential market impacts. Timed for tomorrow at 03:00 AM, the price of STRK is currently positioned at $1.49. Additionally, tokens not claimed during the initial STRK airdrop will be distributed amidst this substantial unlock event.
Strategic Insights from STRK’s Market Performance
Analysis of STRK’s four-hour trading chart reveals a descending channel pattern, instrumental for investors gauging future movements. STRK’s current position above the EMA 9 suggests potential upward momentum in the short-term. Investors should note key support levels at $1.468, $1.385, and $1.279, with a close below the latter potentially signaling a bearish trend. Conversely, resistance levels at $1.539, $1.752, and $1.918 are of interest, with a breakthrough above $1.752 possibly heralding price increases.
Points to Consider
- The STRK unlock could significantly sway the token’s price due to the large volume being released.
- Investors should monitor the token’s performance closely, especially at key support and resistance levels.
- The distribution of unclaimed airdrop tokens may also influence STRK’s market dynamics.
As the cryptocurrency market anticipates the unlocking of STRK, traders and investors should prepare for potential volatility and opportunities that such events may present, keeping a close eye on market indicators and strategic levels on the trading charts.