Strike Price Attempts Parabolic Recovery After Sharp Correction

The STRK/USD trading pair shows signs of a potential bullish reversal after experiencing a significant correction from its recent high.

The Strike price soared 34% in the last 24 hours to trade at $11.05 as of 12:30 a.m. EST on a 20,800% pump in trading volume to $411 million.

Strike Price Attempts Parabolic Recovery After Sharp Correction

The STRK/USD trading pair showed signs of a potential bullish reversal after experiencing a significant correction from its recent high. At the latest session, STRK was trading at $11.051, with an intraday high of $12.4445 and a low of $10.8295. The token had previously surged to nearly $20, but a strong wave of selling led to a sharp pullback.

Now, the price appeared to be forming a parabolic recovery, a pattern that often signaled a renewed uptrend. The 50-day Simple Moving Average (SMA), currently sitting at $10.22, acted as a key support level. If the price stayed above this threshold, it could reinforce the strength of the ongoing recovery.

STRKUSD Analysis Source: Dextools.io

Meanwhile, the MACD (Moving Average Convergence Divergence) indicator displayed early bullish signals, with the MACD line at 0.117 crossing above the signal line at -0.332. This crossover was often interpreted as a sign of growing momentum, which could encourage further buying activity.

Additionally, the Relative Strength Index (RSI) was at 55.17, indicating that the asset was in a neutral zone, neither overbought nor oversold. If RSI moved past 60-70, it would suggest increased buying pressure, potentially fueling a stronger rally.

Strike Price Eyes Breakout From Key Support

The price action indicated that STRK recently bounced from a strong consolidation zone between $6.50 and $7.00. This area served as a base before the last significant breakout, making it a critical level for traders watching for further confirmation of bullish strength.

On the upside, the immediate resistance lay between $11.05 and $12.00. A breakout above this range could open the door for STRK to target the $14.00 – $15.00 region in the near term. However, if the price failed to sustain above the $10.22 support level, it may face another wave of selling pressure, potentially retesting the $7.00 zone.

For now, STRK remained in a make or break phase, with traders monitoring whether the recent bounce would develop into a full-fledged recovery. A sustained move above $12.00 would reinforce the bullish outlook, while failure to hold support could trigger a renewed downside move.

Best Wallet Presale Charges Toward $10 Million – Next Crypto To Explode?

As Strike price continued its bullish momentum, investors were also rushing to buy into the Best Wallet (BEST) presale, which had already raised over $9.4 million in funding

Best Wallet was a digital asset management platform that enabled users to secure, manage, and grow their crypto holdings, all within a single app.

Best Wallet Presale Surges Past $9.4 Million: Join the Web3 Asset Management Platform

Best Wallet is a digital asset management platform that aims to simplify and enhance the user experience in the Web3 world. With its user-friendly app and advanced capabilities, Best Wallet is quickly gaining attention among crypto enthusiasts.

The platform currently supports over 60 blockchains and their native tokens, allowing users to import all their Web3 wallets and seamlessly manage their cryptocurrency portfolios. By tracking assets across multiple wallets, investors can optimize their portfolios and maximize their earnings through the built-in features.

Best Wallet also offers in-app staking for passive income and a seamless swap feature for effortless cryptocurrency trading. A unique “Upcoming Tokens” feature helps users discover promising new cryptocurrencies early. It has already highlighted Catslap (SLAP) and Pepe Unchained (PEPU), both of which delivered huge gains for early investors.

Investors who stake BEST tokens can also earn a huge 185% annual return.

Crypto analyst and YouTuber Crypto Gains, who has over 141K subscribers, predicts that BEST could surge 10X following its launch.

Best Wallet is currently in its presale phase, and its native token, BEST, is available for purchase. Selling for $0.023925, BEST can be bought with either crypto or a bank card. Interested investors can buy BEST here before a price hike in less than 13 hours.

Check out BEST here.