Market Overview for Starknet/Tether (STRKUSDT) as of 2025-10-24

• STRKUSDT tested key support at $0.1179–0.1181 before rebounding.
• Price formed a bullish rebound from Bollinger Band bottom with volume confirmation.
• 20-period MA provided dynamic support during early sell-off; RSI bottomed at oversold 31.
• Momentum shifted higher after 11:00 ET with a breakout above 0.1208.
• Volatility expanded mid-day with a 0.1212–0.1230 rally on high-volume buying.

Starknet/Tether (STRKUSDT) opened at $0.1201 on October 23 at 12:00 ET and closed at $0.1215 on October 24 at 12:00 ET, reaching a high of $0.1230 and a low of $0.1179. Total volume for the 24-hour window was 10,458,396.58, with a notional turnover of approximately $1,282,629. The pair showed a distinct shift in sentiment from bearish to bullish as price tested key support zones and reversed strongly.

Key support levels were identified at $0.1181–0.1192, which coincided with Fibonacci 38.2% retracement of a recent 15-minute bearish swing. A bullish engulfing pattern formed around 23:45 ET on October 23, confirming a reversal. The 20-period moving average provided dynamic support, with price holding above it after 21:00 ET. Bollinger Bands showed contraction earlier in the session before a dramatic expansion following a large-volume bullish move post-23:00 ET.

MACD turned positive after 00:00 ET on October 24 and showed a bullish crossover, aligning with RSI moving out of oversold territory. Price action above the 50-period MA suggests short-term bullish momentum, while the 200-period MA remains bearish, indicating a larger context of consolidation. Divergence between price and volume was observed between 19:00 and 21:00 ET, but volume confirmed the bullish breakout post-23:00 ET.

Fibonacci levels from the October 23 low showed resistance at 61.8% around $0.1212, which was cleanly broken. The rally capped off near $0.1230, forming a potential short-term overbought condition in RSI. Given the strong rebound from key support and confirmed momentum, STRKUSDT may face near-term resistance between $0.1225 and $0.1240. However, a retest of $0.1192–0.1200 is a probable risk, particularly if volume declines.

Backtest Hypothesis

For a backtesting strategy, STRKUSDT appears to offer clear signals based on support and momentum. A potential strategy could trigger entry when price touches a key support level (e.g., 20-day low or Fibonacci 38.2%) and exit on reaching a target of $0.1214 or higher. Given the recent behavior, a 20-day low support definition with a 1% tolerance aligns well with observed price action. Entry would occur the next day’s open to avoid look-ahead bias, and exit when close price hits or exceeds $0.1214. Given STRKUSDT’s volatility and high-volume swings, allowing multiple independent trades upon support retests could optimize returns. A stop-loss could be added at the Fibonacci 61.8% level of a short swing (~$0.1200) to manage risk. This approach could be tested from 2022-01-01 to 2025-10-24 using daily and 15-minute data.