Ethereum News Today: Starknet (STRK) Eyes $0.2820 as Bullish Fractal Pattern Gains Momentum

Starknet (STRK) appears to be forming a bullish fractal pattern that could signal a potential rally. The setup, similar to one that preceded a significant price surge in Mantle (MNT), has drawn attention from technical analysts in the cryptocurrency market [1]. The pattern involves a defined range of support and resistance levels, with STRK currently testing its 200-day moving average at around $0.1578 [1]. A successful breakout from this level, supported by rising trading volume, could indicate a continuation of the upward trend.

The fractal setup is based on the recurring nature of price behavior in recognizable structures. In this case, STRK has already broken out of a falling wedge pattern and has since experienced a minor pullback that tested key support levels [1]. The price has since reclaimed support near its 100-day moving average and is now consolidating just below the 200-day resistance. Historical examples suggest that such consolidation phases often precede strong breakouts when buying pressure intensifies [1].

Traders are closely watching whether STRK can maintain support above the 100-day moving average and follow through with a confirmed breakout above $0.1578. If this occurs, the price could potentially target the $0.2820 zone, mirroring the trajectory seen in MNT’s recent performance [1]. The structural similarities between the two assets are notable and have led to increased speculation that STRK may be positioning itself for a similar move.

The broader cryptocurrency market has shown signs of a modest recovery, with Ethereum (ETH) rebounding from $4,375 to $4,550 in a single day. This rebound has contributed to renewed optimism for altcoins, including STRK, which rose by 7% on the day [1]. The momentum has been further fueled by growing interest in layer-2 scaling solutions, particularly those offering efficient and cost-effective alternatives to Ethereum’s gas-heavy transactions. Starknet, with its zero-knowledge (ZK) rollup technology, has attracted attention from developers and users seeking more scalable options [1].

While the fractal setup provides a technical rationale for a potential bullish move, it is not a definitive predictor of future price action. Market conditions, sentiment shifts, and macroeconomic factors can still influence outcomes, and traders are advised to use the fractal pattern as one of several tools in their analysis [1]. As the pattern continues to evolve, further confirmation or rejection will offer clearer guidance on STRK’s trajectory in the coming sessions [1].

Source: [1] Starknet (STRK) To Rally Higher? This Emerging Fractal Setup Saying Yes! (https://coinmarketcap.com/community/articles/68a1a5a8a49917285c732aae/)