STRK (Starknet) Token Nosedived 20% on Friday Hinting Fallen Investor Sentiment

Starknet (STRK) token saw a slump of over 20% on Friday giving hints of a fallen investor sentiment. The token has seen continuous bad trading days for the past week as well, falling as much as 30%.

Starknet (STRK) token witnessed a significant price drop on Friday, with a decrease of over 20% hinting at a pessimistic investor sentiment. The token has had a continuous rough trading week, with a maximum decline of 30%.

At press time, STRK is valued at $0.4942, indicating a decrease of 18.70% in comparison to the same time last day.

STRK Net FTX Controversy

According to some Twitter users, Starknet liquidated $STRK token in order to compensate their investors for the FTX collapse. The move seems to be deceptive for many as it shows a certain manipulation of monthly tokenomics statistics from STRK's website.

While the impact of this rumored news is unclear, it seems that investors are currently dissatisfied with the performance of STRK and the overall ecosystem development.

Will STRK Price Continue Falling?

When STRK was launched into the market on February 20, it soared to $4. However, the following day, it dropped to $1.60 almost immediately. After this, the price consolidated and formed a descending triangle, which acted as support between $1.80 and $1.60. On April 12, this horizontal support was broken as the price dropped to a low of $1.10. Since then, the price has been on a downtrend.

Amidst the recent developments, STRK is likely to continue declining in the future. Without any ecosystem bullish cues, it’s hard for the token to find a support point and hover above it.

A bullish prediction for the coin seems far-fetched, but if such a scenario were to play out, StarkNet is expected to trade at $1.681865, indicating an increase of 229.61%. Other technical indicators show a bearish sentiment, and the Fear & Greed Index is currently at 29 (Fear). Over the past 30 days, StarkNet recorded 8/30 (27%) green days with a 25.88% price volatility.

According to analyst data, there is a bearish sentiment in the StarkNet price prediction, with two technical analysis indicators giving bullish signals and twenty giving bearish signals.

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