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The Starknet price surged over 10% in the last 24 hours to trade at $2.35 as of 2:40 a.m. EST as investors scramble to accumulate the altcoin despite a market downturn.
Starknet Price Breaks Major Resistance
4-hour chart for STRK/USDT (Source: TradingView)
The Starknet price was able to overcome the resistance level at $2.188 earlier in today’s trading session after it printed a higher low and a series of higher highs on its 4-hour chart.
This resulted in the formation of a positive price channel. Should this bullish momentum continue, the altcoin may soon overcome the $2.350 barrier within the next 24 hours as well. A 4-hour candle close above this threshold could then give it the strong foundation needed to continue its ascent in the short term.
This bullish thesis may be invalidated, however, if the Starknet price fails to close a 4-hour candle above $2.350 in the coming 24 hours. In this alternative scenario, the crypto will either consolidate between $2.188 and $2.350 before another leg up, or undergo a correction. Traders will want to keep an eye on the $2.188 support level, as a break below this mark may signal the start of a steep correction.
The lack of technical structure below this support could lead to the Starknet price dropping to $1.904 in the following 48 hours. Continued sell pressure may then drag STRK to as low as $1.712.
Technical Indicators Point To A Continued Rise In The Starknet Price
Technical indicators on STRK’s 4-hour chart still show strong bullish momentum, which suggests the Starknet price may continue to climb in the coming days. The Moving Average Convergence Divergence (MACD) line is breaking away above the MACD Signal line.
Traders normally identify this as a sign that a crypto’s positive trend is growing stronger. However, the gradient of the MACD Histogram has leveled off, which may indicate that STRK’s bullish trend has reached a peak. This may be followed by a correction.
The Relative Strength Index (RSI) line also positively sloped above its Simple Moving Average (SMA) line. This not only signals that buyers are stronger than sellers, but also suggests a continued increase in the prior’s strength. As a result, it could be easier for bulls to push the Starknet price up in the coming 48 hours than it will be for sellers to pull it down during the same period.
As the Starknet price tries to break another strong resistance level, crypto YouTubers are bullish on eTukTuk’s presale.
The Green AI Revolution Taking The Transport Industry By Storm
The global transport industry is undergoing a major paradigm shift in an effort to be more eco-friendly and slash carbon emissions across the globe. From $278.7 billion in 2022, the global electric vehicle (EV) market valuation is predicted to soar to over $72.7 trillion by 2050.
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This isn't just about money; it's a journey fueled by innovation and sustainability.
A jaw-dropping CAGR of 21.99% from 2023 to 2050 propels us towards a future where green is the new normal 🚗💨
— eTukTuk (@eTukTukio) March 5, 2024
eTukTuk, with its clever combination of blockchain and AI technology, is poised to benefit from this growing focus on eco-friendly transportation solutions. At the heart of the green AI project is its innovative electric TukTuk. The fossil-fuel powered version of these three-wheeler taxis is a popular mode of transport in highly-populated developing countries.
eTukTuk’s EV offering is not only more environmentally friendly, it is also far cheaper to manufacture, operate, and roll out. Through the combination of strategic partnerships with local manufacturers and restricting the number of parts required to build the eTukTuk to 200, the project presents a no-brainer solution to third-world countries’ governments and citizens.
eTukTuk lowers the cost to adoption for governments, while also increasing the profit margins for mini-taxi drivers. Users are also able to profit by participating in the growth of the eTukTuk ecosystem.
Anyone that facilitates the growth of the project in their area by setting up a charging station will receive rewards paid in eTukTuk’s native token, TUK. This further boosts profit margins and has a positive impact on struggling economies in developing countries.
Investors Bet Big On eTukTuk
Investors are rushing to get in on eTukTuk in its early stages, as evident by the success of its presale. The project’s ICO recently surpassed $1.7 million, and shows no signs of slowing down as it races to the $1.8 million milestone.
Crypto YouTuber Jacob Crypto Bury recently discussed eTukTuk and told his more than 31k subscribers that the token could generate 10X returns for investors by 2030
Another top crypto YouTuber, Cilinix Crypto, told his 49.6k subscribers that TUK is a great long-term investment. He points to the vast number of tokens that have been set aside for the project’s high staking rewards and believes that holding the token for the long term may yield a higher return for investors.
Anyone looking to buy the altcoin can do so on the project’s official website. Selling for $0.02775, TUK can be bought using either BNB, ETH, USDT or a bank card. To further entice investors, eTukTuk’s presale offers buyers access to a lucrative staking program with up to 141% in annual rewards.
TUK can be purchased here.
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