Starknet (STRK) is facing downward pressure, but there are signs that the situation is stabilizing. Despite releasing 127.6 million tokens in its latest unlock, the project is actively working on expanding adoption by introducing STRK payments in 15,000 stores globally.

In terms of technical analysis, the RSI is currently in a neutral state, while the CMF indicates a decrease in selling pressure, suggesting a potential shift in momentum. However, the EMA lines are still showing a downtrend, leading to a cautious outlook.

Starknet's recent token release of 127.6 million STRK tokens worth around $15.71 million was a major event in April. Despite this, the project remains focused on enhancing long-term utility.

The announcement of STRK being accepted for payments in 15,000 stores worldwide is a strategic move to promote adoption and practical application.

Analyzing STRK's RSI, it stands at 42.92, which is slightly up from yesterday's 37.29 but slightly down from the earlier reading of 44.76. An RSI of around 43 indicates a neutral to bearish momentum, with sellers still holding some control. Further increase in RSI could signal a potential recovery, but currently, caution is advised.

Regarding the CMF, Starknet's indicator has improved to -0.10 from -0.32, showing a decline in selling pressure and potential interest from buyers. While still negative, the move towards the zero line suggests weakening bearish momentum, potentially supporting a short-term price recovery.

Looking at the EMA lines, they are still signaling a downtrend with short-term averages below long-term averages, a bearish pattern. If selling pressure persists, STRK might drop further to test the support level around $0.109. However, a reversal in momentum could lead to retesting resistance levels at $0.137 and $0.142, with a breakout indicating a stronger recovery towards $0.158.