Market Overview for Starknet/Tether (STRKUSDT) – 24-Hour Analysis

• Starknet/Tether (STRKUSDT) declined from $0.1317 to $0.1168, with a 24-hour drop of 11.2%.
• Volatility increased sharply overnight, with a large-volume sell-off after 06:15 ET.
• RSI signaled oversold conditions by 15:30 ET, while Bollinger Bands constricted during consolidation.
• Volume and turnover spiked during the sharp decline but diverged from price in the final 6 hours.
• A bullish engulfing pattern formed at $0.1161–$0.1195, indicating potential short-term support.

At 12:00 ET–1 on 2025-09-21, Starknet/Tether (STRKUSDT) opened at $0.1301 and traded as high as $0.1319 before falling to a 24-hour low of $0.1161, closing at $0.1168 at 12:00 ET on 2025-09-22. Total volume for the 24-hour period was 33,267,898.89, with a notional turnover of approximately $4,304,660.

The price action over the last 24 hours displayed a sharp bearish trend following a consolidation phase. A key breakout to the downside occurred after 06:15 ET, with STRKUSDT breaking below critical support at $0.1243 and continuing lower through $0.1190 and into the $0.1160s. The candlestick pattern during this decline featured long lower shadows, suggesting aggressive selling pressure. A bullish engulfing pattern formed between $0.1161 and $0.1195 in the final hours, hinting at possible near-term support.

Structure & Formations

Key support levels include $0.1161 (a 15-minute close) and $0.1180, both of which saw price consolidation before the sharp fall. Resistance levels to watch include $0.1192 and $0.1203, both of which were tested multiple times before breaking. Notable candlestick formations include a bearish dark cloud cover during the 06:15–06:30 ET window and a bullish engulfing pattern during the final hour of the 24-hour period, indicating a potential reversal in short-term sentiment.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both bearish during the late-night and early morning hours, confirming the downtrend. The 50-period MA provided a reference for the sell-off but failed to hold as price continued lower. On the daily timeframe, the 50-, 100-, and 200-day moving averages were all in a downward bias, indicating continued bearish momentum from broader market conditions.

MACD & RSI

The MACD turned negative in the early morning hours and remained below the signal line throughout the session, suggesting ongoing bearish momentum. RSI hit oversold territory at 15:30 ET and briefly rebounded to mid-50s, but this failed to trigger a sustained rally. The divergence between RSI and price in the final hours of the 24-hour period indicated weakening selling pressure.

Bollinger Bands

Price spent much of the session in the lower third of the Bollinger Bands, indicating high volatility and bearish bias. A period of contraction occurred between 01:00–03:00 ET, which preceded the sharp sell-off. The expansion that followed reflected the aggressive liquidation in the early morning hours.

Volume & Turnover

Volume spiked significantly during the sharp sell-off, with the largest 15-minute bar occurring at 06:15 ET, where turnover reached $295,000. However, volume declined in the final 6 hours of the 24-hour window despite a rebound in price, indicating weakening conviction among buyers. The divergence between volume and price suggests caution for near-term traders.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from $0.1319 to $0.1161, key levels at 61.8% (~$0.1212) and 38.2% (~$0.1267) were both broken during the sell-off, confirming the depth of the correction. On the daily chart, the 61.8% retracement of the broader downtrend lies near $0.1250, which may serve as a near-term resistance level if a rally develops.

Backtest Hypothesis

Given the bearish trend and the formation of a bullish engulfing pattern at the 24-hour close, a potential backtesting strategy could involve a long entry at $0.1161 with a stop loss placed below $0.1155. A target would be set at $0.1185, aligning with the 38.2% Fibonacci retracement level and the recent 15-minute resistance. This setup would aim to capitalize on a short-term reversal in sentiment, with the bearish divergence in RSI and volume acting as confirmation signals. A trailing stop could be activated after a 1.5% move in favor to secure gains if the rally persists.