Market Overview: Starknet/Tether (STRKUSDT) – 24-Hour Technical Breakdown

• STRKUSDT opened at $0.1233 and closed at $0.1172, down 4.96% in 24 hours amid heightened volatility.
• Price formed bearish reversal patterns and broke below key support levels, confirming downward momentum.
• Trading volume surged during the breakdown, but turnover waned in the final 6 hours, suggesting weakening conviction.
• RSI hit oversold territory near 25, hinting at possible near-term bounce, though MACD remained bearish.
• Bollinger Bands widened significantly, reflecting increased uncertainty, while Fibonacci levels suggest potential for a 61.8% retracement at ~$0.1165.

Starknet/Tether (STRKUSDT) opened at $0.1233 on 2025-09-24 at 12:00 ET and closed at $0.1172 on 2025-09-25 at 12:00 ET, hitting a high of $0.124 and a low of $0.1168. Total 24-hour volume amounted to ~5.9 million STRK, with a notional turnover of ~$711,000. The pair experienced a sharp sell-off from 02:00–04:00 ET, followed by a modest rebound, but momentum remained bearish.

Structure and trend suggest key support is forming around $0.1168–0.1172, where a large bearish engulfing pattern emerged after a sharp drop. Resistance levels at $0.1192 and $0.1218 appear strong, with price struggling to retest either in the final 6 hours. A doji formed at $0.118 on 2025-09-25 at 05:00 ET, hinting at potential indecision or consolidation.

The 20-period and 50-period moving averages on the 15-minute chart remain bearish, with price trading below both and a clear downward slope. Daily moving averages (50/100/200) also indicate a bearish bias. Momentum indicators like RSI and MACD reinforce this narrative: RSI entered oversold territory (~25), while MACD crossed below zero with a bearish divergence.

Bollinger Bands have expanded significantly, reflecting high volatility, and price spent most of the period near the lower band, suggesting exhaustion in the short term. A potential bounce from the 61.8% Fibonacci retracement at ~$0.1165 could mark a short-term floor if buyers step in.

Looking ahead, STRKUSDT may test the immediate support at $0.1168–0.1172, with a break below it risking a 38.2% retracement at ~$0.1154. However, a rebound could see a return to $0.1180–0.1192. Investors should watch for confirmation on the 15-minute chart and be cautious of divergence between price and momentum indicators. A false break of support could accelerate the downtrend.

Backtest Hypothesis
A hypothetical short strategy could be triggered on a confirmed break of the $0.1172 level with a stop above $0.1192. The target would be aligned with the 61.8% retracement at $0.1165 and the 38.2% at $0.1154, with exits based on a 1:2 risk-reward ratio. This aligns with the observed bearish engulfing pattern and a weak RSI reading. A separate long setup could consider a retest of the 20-period moving average as a potential bounce zone. While these setups reflect the current technical environment, execution must account for market noise and liquidity conditions.