Market Overview for Starknet/Tether (STRKUSDT) on 2025-10-08

• STRK/USDT traded in a 24-hour range between 0.164 and 0.172, closing near the middle with moderate volume.
• Strong 15-minute bullish momentum emerged after 20:00 ET, but faded by early morning.
• Volatility expanded overnight, with a 1.4% range in a single 3-hour window.
• Key resistance at 0.1723 and support at 0.1609 were tested and rejected.
• Volume diverged from price during the overnight sell-off, hinting at weakening sentiment.

Price Action and Volume Profile

Starknet/Tether (STRKUSDT) opened at 0.1676 on 2025-10-07 at 12:00 ET and closed at 0.1593 on 2025-10-08 at 12:00 ET. The 24-hour high reached 0.1725, while the low dropped to 0.1587. Total volume amounted to 86.5 million units, with a notional turnover of $13.7 million, reflecting mixed activity across the session. The price moved in a wide range, with a notable consolidation phase in the early morning hours before a late morning rally.

Structure & Formations

Key support levels were identified at 0.1609, where price found a floor overnight, and at 0.1587, the session low. Resistance was evident at 0.1723 and 0.1709. A bearish engulfing pattern emerged on the 15-minute chart at 03:30 ET, coinciding with a sharp drop from 0.1693 to 0.165. A doji formed around 05:15 ET, suggesting indecision. The price failed to close above 0.1725, indicating resistance may hold in the near term.

Moving Averages and MACD

On the 15-minute chart, the 20-period moving average (MA) crossed the 50-period MA in the morning, suggesting a potential short-term bullish bias. However, the MACD histogram showed a loss in momentum after 21:00 ET, confirming a bearish reversal. The RSI reached overbought levels at 0.1725, then fell below 40 during the late-night selloff, indicating a shift in sentiment.

Bollinger Bands expanded overnight, with the price oscillating near the lower band between 03:00 and 06:00 ET, signaling increased volatility.

Volume and Fibonacci Analysis

Volume spiked during the overnight selloff, but price action failed to confirm the strength with a breakout. A divergence emerged as price declined while volume waned, hinting at exhaustion.

Applying Fibonacci retracement levels to the overnight low-to-high swing, 0.1609 marked a 61.8% retracement level, which was briefly tested but rejected. On the daily chart, a 50% retracement of the recent bearish move aligns with 0.1645, a potential support target.

Outlook and Risk

STRKUSDT is likely to consolidate near 0.1609–0.1645 in the next 24 hours, with a risk of retesting 0.1587 if sentiment worsens. A break above 0.1725 could signal renewed buying interest, but caution is warranted due to recent divergence and weakening momentum.

Backtest Hypothesis

A potential backtesting strategy could involve a mean-reversion approach using the 20-period MA as a trigger. Entries would be initiated when the price closes below the 20 MA and RSI dips below 30, targeting a 5% move back toward the 20 MA. Stops could be placed below a recent swing low, with exits at the 20 MA or a 2% trailing stop. This setup aligns with the observed bearish engulfing pattern and overbought conditions earlier in the session.