💰 $STRK Moving Sideways

Starknet is a middle-tier player among the altcoin market. The hype around Layer-2 solutions for Ethereum has cooled down right now 🔷. Let's examine it from a technical analysis perspective.

On the daily timeframe, the token is in a sideways range 📈. Its key levels are support at around ~$0.11 and resistance at around ~$0.19, as well as the midline at ~$0.146.

Within the channel, a compression pattern has formed in the shape of an inverted head and shoulders below the midline 🐂. This formation indicates upward movement.

An additional argument for growth is the bullish divergence on the daily chart. It has almost played out but is still relevant.

I expect gradual upward movement with a local target at the upper boundary of the channel. Longer-term, a breakout above the channel is likely 📈.

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