Let's explore Starknet $STRK and see what's happening. Strk is a layer 2 with a much lower market cap compared to ARB, OP, POL, coupled with the token unlock causing significant selling pressure. Additionally, the community is quite fomo as STRK just launched, so the STRK price has been continuously suppressed, creating new lows but not rebounding as quickly as other Layer 2s, indicating that the capital flow is still quite weak. From a technical analysis perspective using Wickoff and combining volume profile, the 1d chart of STRK is in Phase D, with CO accumulating strongly in this price range as indicated by large volume and sideways price movement. When combining the volume profile, we see that the price area 0.1487 has the largest trading volume. If you enjoy taking risks, you might consider entering a position at the current price of 0.15, but consider allocating less than 3% of your capital. Personally, I would choose other safer layer 2 tokens and may consider buying strk with 1% of my capital when STRK closes the candle ending PHASE D with a nice SOS point, confirming an upward price trend with a Mazubur candle breaking the trend and resistance point at 0.19.
Note: This is a personal view and not investment advice.
