Market Overview: Starknet (STRKUSDT) 24-Hour Technical Summary

• Starknet (STRKUSDT) posted a 24-hour high of $0.1188 and closed near this peak at $0.1185, signaling bullish momentum.
• The price broke above a key resistance cluster near $0.1160 and formed a bullish engulfing pattern on the 15-minute chart.
• Volatility expanded significantly after 05:00 ET, with turnover surging past $100 million in the final 6 hours.
• RSI entered overbought territory, suggesting potential pullback risks, though volume continued to confirm the move.
• A 61.8% Fibonacci retracement level from the recent low is now aligned with $0.1146, which could act as dynamic support.

Starknet (STRKUSDT) opened at $0.1140 on 2025-08-05 12:00 ET and closed at $0.1185 by 12:00 ET on 2025-08-06, reaching a high of $0.1188 and a low of $0.1124. The 24-hour volume totaled 12.3 million STRK, with notional turnover of approximately $141.5 million.

Structure & Formations

A clear bullish trend emerged during the past 24 hours, with key resistance levels at $0.1160 and $0.1165 being decisively broken on strong volume. The price formed a bullish engulfing pattern just before 07:15 ET, confirming the shift in sentiment. A minor bearish divergence in price and volume was seen briefly around 02:00 ET, but the overall pattern remained intact. A doji formed at $0.1159 during the early morning, suggesting momentary indecision before the rally resumed.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are both bullish, with price staying above both and the 20-period rising faster than the 50-period. On the daily chart, the 50-period moving average is approaching a key 200-period line, which may soon act as a psychological benchmark for long-term momentum.

MACD & RSI

MACD crossed above the signal line early on 2025-08-05 and remained in positive territory, with a growing histogram during the late morning and early afternoon. RSI reached overbought levels (above 70) by mid-day on 2025-08-06, which typically precedes a pullback. However, the lack of a bearish crossover in the MACD and the continued volume support suggests this overbought reading may not trigger a sharp correction.

Bollinger Bands

Volatility expanded significantly from 05:00 ET onwards, with the upper band reaching $0.1188, the exact 24-hour high. Price remained close to the upper band for several hours, indicating sustained bullish pressure. The middle band at $0.1168 now acts as a dynamic support/resistance line.

Volume & Turnover

Volume surged above $1 million in notional turnover during the final 6 hours, with the largest single 15-minute candle at 16:00 ET showing $0.1185 at a notional volume of $83.8 million. Volume confirmed the price breakout above $0.1160 and continued to trend higher through the close. No material divergence between price and volume was observed, which strengthens the case for the current rally.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing low ($0.1124) and swing high ($0.1188), the 61.8% retracement level is now at $0.1146. This area could provide strong support if the price retraces. The 38.2% level at $0.1156 is already acting as a minor resistance-turned-support on the 15-minute chart, and the 50% level at $0.1156 has been tested twice in the past 24 hours.

Starknet appears to have entered a new bullish phase, with both price and volume confirming the strength of the move. While the overbought RSI suggests a possible consolidation or pullback in the near term, the overall technical setup remains constructive. Investors should monitor the $0.1146–$0.1156 range for potential support and be cautious of any bearish divergences in the next 24 hours.