The crypto market is eagerly awaiting a significant event, as the Starknet network's native token, STRK, is set to be unlocked. This event is part of a series of token unlockings, which are estimated to reach a total value of approximately $455 million in the coming week.

The Upcoming STRK Token Release

The STRK token unlocking, scheduled for tomorrow at 03:00 AM, is expected to release 8.79% of the token's total circulating supply, valued at $95.36 million. The current price of STRK is $1.49, and the event will also include the distribution of tokens that were not claimed during the initial STRK airdrop.

Understanding STRK's Market Performance

Investors can gain valuable insights by analyzing STRK's four-hour trading chart, which shows a descending channel pattern. Currently, STRK is above the EMA 9, suggesting a potential increase in the short term. Investors should keep an eye on key support levels at $1.468, $1.385, and $1.279, as a close below the latter could indicate a bearish trend. On the other hand, resistance levels at $1.539, $1.752, and $1.918 are also important, as a breakthrough above $1.752 could lead to price increases.

Key Considerations

The STRK token unlocking could significantly impact its price due to the large volume being released. Investors should closely monitor the token's performance, especially at key support and resistance levels. Additionally, the distribution of unclaimed airdrop tokens may also affect STRK's market dynamics.

As the cryptocurrency market prepares for the unlocking of STRK, traders and investors should be prepared for potential volatility and opportunities that such events may present. It is crucial to keep a close eye on market indicators and strategic levels on the trading charts to make informed decisions.