I am analyzing the altcoins of Crypto Brothers, next up we have $STRK
I can tell you right away that I am afraid of these assets like fire 😄, but in November of last year we saw some very strong volume movements that hadn't occurred since the beginning of this coin's life on the Binance platform.
The coin is currently trading below its initial minimum
The MACD indicator on weekly charts shows a not very clear bullish divergence; I do not see a significant low breakout for this, instead, the price has formed a new descending step. The balance volume is still below its moving average.
On daily charts, I currently do not see a bullish divergence that could turn the price into an upward trend. Be careful at the blue line of descending resistance; the price is likely to reach it in mid-February, and if the indicators do not show anything new, more encouraging than at the moment, the price might very likely not break through it and form another descending step.
My conclusion for myself is as follows: I can assume that technical analysis on this instrument may be virtually useless, and if something cannot be predicted using mathematics, then this coin seems to me a very dangerous investment. I would only invest in it if I were close to the creators of this project and their insights. Assess your risks 🙌