Outside Source
Starknet, an Ethereum layer-2 scaling solution, rallied more than 11% over the past day.
According to price data from crypto.news, Starknet (STRK) was trading at $0.438 upon writing. The altcoin reached an intraday high of $0.444. That’s 28% above its weekly low, demonstrating strong upward momentum, whereas the broader altcoin market experiences a downturn.
This bullish activity is further supported by ecosystem growth, with the total value locked (TVL) in Starknet surging to $239.41 million — a substantial increase of nearly 549% from the $36.91 million reported at the beginning of the year, as per DeFiLlama.
This rising TVL reflects growing confidence in the platform, contributing to STRK’s sustained gains.
One of the main catalysts behind STRK’s recent rally was Ethereum co-founder Vitalik Buterin unlocking $470,000 worth of STRK tokens, sparking a surge in interest and trading activity that elevated the token’s profile and market value.
The momentum has been further fuelled by the completion of the Starknet Bolt Upgrade on Aug. 28, which improved the network’s speed and lowered costs by enabling parallel execution and block packing.
The renewed optimism has led to a 140% jump in trading volume within 24 hours, driving further bullish momentum for STRK.
Analysts eye $0.45 resistance level
On X, crypto analyst Falcão highlighted that $STRK is preparing for a major rally, with the key horizontal resistance zone around $0.45.
He expects a breakout above this level, combined with rising trading volume and strengthening momentum, to trigger a significant price surge.
Similarly, crypto analyst CryptoJack suggested that STRK is nearing a crucial resistance at $0.45.
If the token breaks past this level, it could exit its current range-bound pattern and aim for the next target of around $0.60.
Both analysts see $0.45 as STRK’s pivotal point, with a breakout potentially setting the stage for notable gains.
Starknet has room to grow
On the 1D STRK/USDT chart, the token’s Relative Strength Index has risen to 60, confirming that the token is in a bullish trend but still has room to grow before reaching overbought conditions.
The Moving Average Convergence Divergence indicator also aligns with a bullish outlook, showing STRK trading above the neutral line. Notably, the blue MACD line is beginning to cross above the orange signal line, suggesting that the bullish momentum is gaining traction.
As STRK approaches the resistance at $0.45—a level where it has repeatedly faced selling pressure—a breakthrough could signal a strong upward move. If it manages to clear this hurdle, a bullish reversal may be confirmed, potentially targeting the next resistance near $0.60.
This article first appeared at crypto.news
