Starknet/Tether (STRKUSDT) Market Overview

• STRKUSDT surged from $0.1489 to $0.1760 amid high-volume momentum and bullish breakout patterns.
• RSI reached overbought territory (75+), suggesting potential near-term pullback, but MACD remains strong.
• Bollinger Bands widened significantly, reflecting heightened volatility across key trading hours.
• Volume and turnover spiked during the final 6 hours, confirming a major price shift and accumulation.
• Fibonacci 61.8% retracement level at $0.1633 is now key support; break below could reignite downward pressure.

Starknet/Tether (STRKUSDT) opened at $0.1489 on 2025-10-05 at 12:00 ET and closed at $0.1595 by 12:00 ET on 2025-10-06. The pair reached a high of $0.1760 and a low of $0.1471 over the 24-hour period. Total volume amounted to 113,331,483.76, with a notional turnover of $17,250,100. The price action reflected strong buyer participation in the late afternoon and evening hours, driving a sharp reversal from earlier bearish tendencies.

Structure & Formations

The 15-minute chart displayed multiple bullish reversal patterns, including a morning star and a bullish engulfing pattern around 19:45 and 21:00 ET. A key support level was identified at $0.1495, where the price found repeated buying interest, and resistance emerged at $0.1508 before the explosive move above $0.1540. A strong breakout candle formed at $0.1542 at 07:15 ET, followed by a continuation above $0.1580. A key 61.8% Fibonacci level at $0.1633 now appears to act as a magnet for sellers.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA late in the day, signaling a bullish crossover. The 50-period SMA now sits at $0.1530, providing dynamic support. On the daily timeframe, the 50-day SMA is at $0.1500, with the 200-day SMA near $0.1450, suggesting the price is well above long-term trend averages and could sustain momentum for another session.

MACD & RSI

MACD remained in bullish territory throughout the day, with a strong signal line crossing above the histogram after 07:30 ET. RSI peaked above 75 in the last 3 hours, indicating overbought conditions. However, RSI divergence was not observed, and the overbought reading appears to reflect aggressive accumulation rather than a top. Traders should watch for a drop below 50 as a possible early bearish sign.

Bollinger Bands

Bollinger Bands expanded significantly as the price surged above the upper band from $0.1540 onward. This widening suggests increased volatility and strong directional bias. The price spent most of the session between the upper and middle bands, with a brief touch of the lower band at $0.1495. The current upper band sits at $0.1605, providing a near-term ceiling for price action.

Volume & Turnover

Volume and notional turnover surged in the last 6 hours, with the largest 15-minute volume spike at 13:45 ET (17.5M volume) and 14:00 ET (9.2M volume), coinciding with the price rising above $0.1650. The volume profile aligns closely with price action, confirming the legitimacy of the bullish move. Divergence was not observed, supporting the idea that institutional or large-cap investors are accumulating STRK.

Fibonacci Retracements

The key Fibonacci retracement levels for the recent 15-minute swing were at 38.2% ($0.1582), 50.0% ($0.1603), and 61.8% ($0.1633). The 61.8% level currently acts as a magnet for short-term sellers. On the daily chart, the 61.8% level from the recent correction is near $0.1650, suggesting a possible consolidation zone.

Backtest Hypothesis

The backtesting strategy described involves entering long positions on STRKUSDT when price closes above both the 20 and 50-period SMAs on the 15-minute chart and the MACD histogram turns positive, with a stop loss placed at the most recent swing low. This approach aligns with the observed 20:50 crossover and the positive divergence seen in the MACD late in the session. A trailing stop could be placed at the 61.8% Fibonacci level as the price continues its bullish trend. While the strategy has shown historical success in trending conditions, it may be vulnerable to false breakouts in ranging markets, so filtering with RSI and volume can improve accuracy.