- Starknet trades at $0.1587, gaining 0.4% in 24h, within a clean falling wedge on the hourly chart.
- Support and resistance are defined at $0.1416 and $0.1658, keeping price confined to a narrow compression range.
- The wedge’s structure shows reduced volatility, highlighting a stable market phase after a strong impulse move.
Starknet’s hourly chart shows a clean falling wedge pattern after an earlier strong upward move. The asset is currently trading at $0.1587, reflecting a 0.4% price increase in the past 24 hours. The setup forms a classic technical structure, where price compression follows an impulse leg before testing support and resistance limits.
The short-term market structure highlights a defined support zone near $0.1416, which has remained intact despite recent declines. Resistance has been observed at $0.1658, creating a narrow range where buying and selling pressure are balanced. Market participants are watching how price action develops around this range to determine the next phase of movement.
Compression Phase Indicates Decreasing Volatility
The wedge structure illustrates reduced volatility following a strong impulse phase that began earlier in the session. Price has moved steadily lower while maintaining converging trendlines, marking the compression stage of this pattern.
This period of narrowing movement typically occurs when momentum stabilizes after extended swings. Notably, Starknet’s decline has slowed over recent sessions, with smaller candlesticks forming near the wedge’s lower boundary. Such behavior often reflects a pause in selling strength while buyers begin testing key short-term levels.
The compression also aligns with visible support retention at $0.1416, confirming that the lower boundary remains technically relevant. Maintaining this level is essential as it defines the structure’s base within the current trading setup.
Price Reaction Defines Market Sentiment
Market attention now centers on how Starknet reacts within this tightening structure. A move toward the upper wedge line near $0.1658 would test immediate resistance strength. Each approach toward this region has prompted modest rejections, showing that sellers remain active around this threshold.
However, despite limited upward momentum, consistent defense of the lower trendline has prevented deeper retracement. This balance between defense and pressure shows a neutral tone dominating the hourly timeframe. Volume data also supports the view that participation remains controlled rather than aggressive, maintaining short-term equilibrium.
Transitioning from this observation, the next notable event will likely arise once price interacts again with either boundary. The response to that contact should provide clearer insight into near-term sentiment and potential continuation patterns.
Technical Structure Maintains Defined Boundaries
The hourly wedge maintains a clear technical identity with parallel contracting lines and steady compression. Starknet’s $0.1587 level currently sits within this structure’s midpoint, reflecting an equilibrium between recent highs and lows.
Support at $0.1416 continues to anchor market expectations, while resistance near $0.1658 remains the next short-term test area. As the range tightens, short bursts of volatility can be expected around boundary touches. Yet, the overall configuration remains technically consistent, suggesting traders are respecting both limits while awaiting direction confirmation.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed