Summary
• Price tested key support at $0.0846 and bounced, forming a bullish engulfing pattern.
• Volume surged during the late ET session, confirming a shift in buying pressure.
• RSI approached oversold territory before recovery, suggesting potential exhaustion of sellers.
• Bollinger Bands tightened midday, followed by a breakout to the upside in early AM ET.
• A 61.8% Fibonacci retracement level aligned with strong buying at $0.0875–$0.0880.
Starknet/Tether (STRKUSDT) opened at $0.0858 on 2026-01-03 12:00 ET, reached a high of $0.0897, and a low of $0.0846, closing at $0.0894 on 2026-01-04 12:00 ET. Total volume was 32.9 million, with $2.84 million in turnover.
Structure & Formations
A key support level was identified at $0.0846, where a bullish reversal occurred, marked by a bullish engulfing pattern. This pattern suggests a shift in short-term sentiment. Resistance is currently clustering near $0.0896, with a 61.8% Fibonacci retracement aligning closely with recent buying pressure.
Moving Averages and Momentum
On the 5-minute chart, the 20-period MA crossed above the 50-period MA, reinforcing a potential bullish bias. The RSI dipped into oversold territory before surging back into balanced levels, indicating potential short-term exhaustion of sellers. MACD showed a positive crossover, with a rising histogram, supporting upward momentum.
Volatility and Bollinger Bands
Volatility contracted midday, as evidenced by tightening Bollinger Bands, followed by a breakout to the upside. Price remains near the upper band, suggesting elevated bullish momentum. The move above the 20-period MA confirms the continuation of a short-term uptrend.
Volume and Turnover Analysis
Volume surged significantly in the early AM ET period, especially after the price moved above $0.0880. The increase in turnover aligns with the upward move, reinforcing the strength of the bullish breakout. However, a divergence between price and volume was observed at the close, suggesting caution in over-interpreting momentum.
Forward Outlook and Risk
The immediate outlook for
is bullish as long as the 20-period MA remains intact. A break above $0.0897 could target $0.0905–$0.0910. However, a close below $0.0875 could signal a test of $0.0865. Investors should remain cautious of potential profit-taking or a pullback to test the 38.2% Fibonacci level.
Comments
No comments yet