A visible streak of light which shows the path of rocky object which has entered Earth's atmosphere is?

The answer is a meteor.

Meteors make flashing light when they enter the Earth's atmosphere. This is actually meteors on fire, because our atmosphere makes them burn when they come in contact, and crashes them under the pressure. This makes up for a beautiful sight on the night sky, and people often refer to the burning meteors as ''falling stars'', and make wishes as well.