The post MYX and STRK Surge Over 20%—Is This the Start of a New Altcoin Season? appeared first on Coinpedia Fintech News
The prices of MYX Finance (MYX) and Starknet (STRK) have witnessed a sharp upswing of over 20% in the past 24 hours, signaling renewed interest in mid-cap altcoins amid Bitcoin’s steady climb toward its all-time high. This sudden momentum has pushed both assets into crucial short-term resistance zones. If bullish sentiment sustains, the MYX price could eye the $0.35 region, while the STRK price may target $0.95. However, failure to maintain buying pressure could trigger a brief consolidation before the next breakout attempt.
MYX Finance Eyes a ‘V-Shaped’ Recovery
Since the beginning, the MYX Finance price seems to have been following a pattern that comprises a breakout followed by a horizontal consolidation. However, the recent fallout had raised some concerns, but the BTC price hitting new highs reclaimed massive bullish momentum. Currently, the price is trying hard to validate a bullish rebound, which may mark a new ATH if it is successful.
The price has remained largely incremental since August, while the volume has witnessed an occasional increment. The current rebound does not appear to have been backed by a strong buying volume. Although the RSI and MACD point towards a bullish divergence, a rise above the local resistance at $8.4 may validate the move. This level also coincides with the ascending support, which makes these levels extremely important to achieve. Following this, the MYX price may continue to consolidate for a while before marching towards a new ATH at around $20.
Starknet (STRK) Enters Top 100
The Starknet price witnessed a sudden rise in the price followed by a massive influx of buying pressure as the trading volume surged 4 times from $55 million to over $280 million. Soon after the rebound in June, the price remained consolidated between the resistance and support zone before the start of Q4 triggered a strong breakout.
The STRK price has broken above the parallel channel and has found support at the 200-day MA at the moment. The bears are trying hard to push the price below this level; however, the technicals suggest a further upside move could be possible. The RSI is again attempting to sustain within the overbought range while showing the possibility of a bearish divergence. Therefore, if the price may continue to coil up until the 200-day MA at $1.78 offers a strong base, which could propel the rally within the resistance zone between $1.88 and $1.92, further leading it above $2.
