Market Overview for Starknet/Tether (STRKUSDT) — 2025-11-04

• STRK/USDT declined from 0.1112 to 0.1060 over 24 hours.
• Low volume of 12.1 million suggests lack of conviction in directional moves.
• RSI near 30 indicates oversold conditions, but bearish momentum persists.
• Bollinger Bands show price within lower 1σ, signaling consolidation.
• No strong reversal patterns emerged; bearish bias remains intact.

Starknet/Tether (STRKUSDT) opened at 0.1088 on 2025-11-03 at 12:00 ET, peaked at 0.1137, and closed at 0.1060 on 2025-11-04 at 12:00 ET. Total trading volume for the 24-hour period was 120.6 million units, with a notional turnover of $12.7 million. Price action showed a distinct bearish drift, with no strong reversal signs.

Over the past 24 hours, STRKUSDT formed a descending price channel, with multiple 15-minute candles printing lower highs and lower lows. A key support level appears to have emerged around 0.1060–0.1055, as the price tested this level three times within the last five hours. No strong bullish or bearish engulfing patterns were observed, but several long lower wicks indicated buying attempts that failed to reverse the trend.

The 20-period and 50-period moving averages (15-minute) both remained above the price, reinforcing the bearish bias. MACD crossed below the signal line, signaling weakening momentum. RSI dropped to 30, suggesting oversold conditions, but the price continued to fall, indicating potential for further downside. Bollinger Bands showed a mild contraction during the 5–8 AM ET window, followed by a price test of the lower band, which did not break through.

Volume remained muted for most of the session, with the highest spikes observed during the 4–5 AM ET and 2–3 PM ET windows. The volume in the morning spike coincided with a sharp decline to 0.1055, while the afternoon spike saw a failed rebound. These patterns suggest a lack of conviction in both bullish and bearish moves, though bears have maintained control.

Fibonacci retracements drawn from the 0.1137 high to the 0.1050 low highlight potential support levels at 0.1103 (38.2%), 0.1079 (50%), and 0.1065 (61.8%). The price found temporary support at 0.1060–0.1055, near the 61.8% level, suggesting further consolidation or a test of 0.1050 may follow. No bullish divergence was observed in RSI or MACD, reducing the likelihood of a short-term reversal.

Backtest Hypothesis

Given the bearish dominance and lack of strong reversal signals, a backtest of bearish engulfing patterns could offer insight into STRKUSDT’s potential short-term behavior. However, due to data limitations, we must consider narrowing the scan to the token’s first tradable day (~2024-01-01) to improve data availability. This adjustment would ensure the pattern scan reflects accurate and usable data for backtesting, allowing us to evaluate the effectiveness of a short-entry strategy on each pattern close, with an exit on the next candle’s close. This approach aligns with the observed bearish momentum and could provide a data-driven view of short-term risk-reward ratios.