Starknet's STRK Token Faces Challenges Amid 127.6M Unlock, Adoption Efforts Continue

Starknet (STRK) is currently under pressure, but there are signs of stabilization emerging. Despite the release of 127.6 million tokens into circulation, the project is actively pushing forward with adoption efforts. One of the key initiatives is the enablement of STRK payments in 15,000 shops worldwide, a move aimed at boosting adoption and real-world use cases.

From a technical perspective, the Relative Strength Index (RSI) for STRK is currently in neutral territory, indicating a cautious outlook. The RSI measures momentum on a scale from 0 to 100, with readings above 70 typically indicating overbought conditions and below 30 signaling oversold territory. An RSI around 43 suggests neutral-to-bearish momentum, with sellers still maintaining some control. If the RSI continues to climb, it could signal a shift toward a recovery, but for now, STRK remains in a cautious zone.

The Chaikin Money Flow (CMF) for StarkNet has improved, signaling a reduction in selling pressure. The CMF is a volume-based indicator that measures the flow of money into or out of an asset over time. It ranges from -1 to +1, with values above 0 indicating buying (accumulation) and below 0 indicating selling (distribution). Although still in negative territory, the rise toward the neutral line suggests that bearish momentum is weakening. A CMF reading of -0.10 points to moderate outflows, but the upward shift could hint at growing interest from buyers. If this trend continues and the CMF crosses into positive territory, it may support a short-term recovery in STRK’s price.

However, Starknet’s Exponential Moving Average (EMA) lines continue to reflect a downtrend, with short-term averages positioned below long-term ones—a classic bearish setup. If this pattern holds and selling pressure increases, STRK could decline further to test the support level near $0.109. Conversely, if momentum shifts and STRK manages to reverse the current trend, it could begin retesting key resistance levels at $0.137 and $0.142. A breakout above these zones may open the path toward $0.158, signaling a stronger recovery.

In summary, while Starknet faces challenges due to the recent token unlock, the project is making strides in adoption and real-world utility. Technical indicators suggest a cautious outlook, but there are signs of stabilization and potential recovery. The project's efforts to enable STRK payments in 15,000 shops worldwide are a positive step toward building long-term utility and adoption.