Starknet/Tether Market Overview for 2025-11-03

• STRKUSDT opened at $0.1209 and closed at $0.1069, with a 24-hour low of $0.1027.
• Price declined by 11.6% with a bearish momentum confirmed by low RSI and diverging volume.
• A key support was tested near $0.1027–0.1037, with a potential rebound observed between $0.106–0.108.
• Volatility expanded overnight, with Bollinger Bands showing price near the lower boundary.
• Volume surged during the early morning hours, aligning with the price drop, indicating selling pressure.

Starknet/Tether (STRKUSDT) opened at $0.1209 on 2025-11-02 at 12:00 ET and closed at $0.1069 at 12:00 ET on 2025-11-03, reaching a high of $0.1217 and a low of $0.1027 during the 24-hour period. Total traded volume stood at approximately 115,589,423.94, with total turnover (notional value) estimated at $13,621,700. The pair experienced a bearish bias with a broad downward drift, particularly after midnight.

Structure & Formations

The price formation for STRKUSDT displayed a distinct bearish trend throughout the 24-hour window, particularly from around 19:00 ET to 03:00 ET, where multiple bearish engulfing patterns formed on the 15-minute chart. Key support levels were identified near $0.1027–0.1037 and $0.106–0.108, with a test at the lower bound of $0.1027. The formation of long lower wicks between $0.105 and $0.107 suggested potential short-term buying interest. Notable candlestick patterns included several bearish continuation patterns such as the dark cloud cover and a falling wedge, reinforcing the downward momentum.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart confirmed a bearish crossover as price remained below both, with the 20-line (fast) below the 50-line (slow). On the daily chart, the 50-period and 200-period lines indicated a broader bearish trend with price below the 200-day MA for much of the session. The 100-day MA provided limited support but failed to halt the decline as bearish momentum gained strength. The 50–200 crossover remained a key indicator for the trend direction in the short to medium term.

MACD & RSI

The RSI for STRKUSDT dipped below 30 during the early morning hours, confirming oversold conditions, though this did not trigger a reversal. MACD lines showed a consistent bearish trend with the histogram narrowing, indicating weakening bearish momentum. However, the RSI failed to close above 30, and the MACD remained below its signal line, suggesting that the oversold bounce may not be strong enough to reverse the trend. These indicators reinforce a continuation of the downward move until a more decisive reversal pattern forms.

Bollinger Bands

Bollinger Bands highlighted a significant expansion in volatility during the early morning hours as the lower band dropped to $0.1027. Price remained near the lower boundary for an extended period, with occasional bounces toward the middle band. This suggests a potential test of the support area, though without a strong reversal pattern, the price is likely to remain within the bounds of the bearish trend. A consolidation period could follow if the price holds above $0.1027.

Volume & Turnover

Volume spiked dramatically during the early morning hours, particularly between 03:00 and 05:00 ET, coinciding with the steepest part of the decline. This indicates strong selling pressure, with large notional turnover contributing to the $0.106–0.1027 price range. However, volume began to taper off in the afternoon, suggesting reduced conviction in the bearish move. A divergence between price and volume is not yet apparent, but if volume remains low during a rally, it could signal a potential reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the recent swing from $0.1217 (high) to $0.1027 (low), the 38.2% level (~$0.1155) and the 61.8% level (~$0.1102) were key psychological levels. The price found some resistance at these levels before continuing its downward trajectory. In the 15-minute chart, Fibonacci levels provided temporary support during intraday bounces, especially around $0.106–0.108. These levels remain relevant as potential support or resistance for the next few sessions.

Backtest Hypothesis

The backtest strategy aims to generate buy signals using a combination of the MACD death-cross and RSI below 30, holding the position until RSI exits the oversold zone. Given the recent behavior of STRKUSDT, where RSI dipped below 30 and the MACD remained bearish, the strategy would have triggered a buy signal during the early morning hours. However, as the RSI has not yet exited oversold levels by 12:00 ET on 2025-11-03, the signal remains active. The success of this approach would depend on how well the RSI recovers in the next 24–48 hours. The strategy could be further refined by incorporating Fibonacci levels to manage stops and take-profit points.