Starknet, Telcoin, and MYX Finance Drop Amid Bitcoin Slide
Starknet (STRK), Telcoin (TEL), and MYX Finance (MYX) fell sharply on Friday. Bitcoin (BTC) dropped below $86,000, pushing smaller cryptocurrencies down too. Data from CoinGecko shows STRK, TEL, and MYX lost over 18% in the past 24 hours. The market’s bearish mood suggests more losses for these coins.
Starknet Hits Resistance Zone
Starknet retested the 61.8% Fibonacci level at $0.26 on Wednesday. This level is based on the price move from the January high of $0.40 to the October low of $0.03. After hitting this resistance, STRK dropped 10.36% the next day. On Friday, STRK traded lower at $0.22.
If STRK keeps falling, it may go down to the daily support at $0.15. The daily Relative Strength Index (RSI) is 63, down from overbought levels earlier in the week. If RSI falls below 50, STRK could face a deeper drop.
If STRK bounces back, it might reach the $0.26 resistance again.
Telcoin Drops Below $0.005
Telcoin failed to break the daily resistance of $0.007 on Tuesday. The price then fell over 21% in two days. On Friday, TEL traded around $0.005.
If the drop continues, Telcoin could test the 50-day Exponential Moving Average (EMA) near $0.004. The daily RSI is 54, showing weakening bullish momentum. A fall below 50 in RSI may lead to a bigger decline in TEL.
If TEL recovers, it may challenge the resistance at $0.007 again.
MYX Finance Shows Bearish Signs
MYX Finance hit resistance at the 50-day EMA near $3.49 on Wednesday. This EMA aligns closely with daily resistance at $3.36. MYX fell 17% the following day and traded at $2.49 on Friday.
If MYX keeps falling, it might reach the November 3 low of $1.69. The RSI is at 45, below the neutral 50, showing rising bearish momentum.
A recovery could push MYX back toward the 50-day EMA at $3.49.
