Starknet/Tether (STRKUSDT) Market Overview

• STRKUSDT traded in a tight range between 0.1447 and 0.1559 over the last 24 hours, with a bearish close near the session low.
• Momentum weakened late in the session, as the RSI dipped into oversold territory and volume declined.
• Volatility remained moderate, with Bollinger Bands showing slight expansion and price lingering near the lower band.
• The 24-hour turnover was moderate, with no notable divergence between price and volume action.
• A potential support level was identified near 0.1447–0.1451, with resistance expected at 0.1506–0.1512.

Starknet/Tether (STRKUSDT) opened at 0.1503 on October 3 at 12:00 ET and closed at 0.1451 on October 4 at 12:00 ET, with a high of 0.1559 and a low of 0.1447 over the 24-hour period. Total traded volume amounted to 232,176,515 units, while notional turnover reached approximately $35,034,620. Price action remained choppy, with a late-session breakdown below key support levels.

Structure & Formations

Price action revealed a bearish breakdown from the 0.1506–0.1512 resistance cluster, confirmed by a long lower wick candle at 0.1459 and a closing print near the session low. A bearish engulfing pattern formed around 0.1512 on October 3 at 18:15 ET, signaling a potential shift in momentum. A potential support zone developed between 0.1447 and 0.1451, marked by a cluster of consolidation candles and a failed rebound.

Moving Averages

Short-term 15-minute moving averages (20/50) suggest a bearish bias, as the 20-period MA crossed below the 50-period MA early in the session. Daily moving averages (50/100/200) show price trading below all three, indicating a downtrend. The 50-day MA currently rests at 0.1530, while the 200-day MA sits at 0.1550, suggesting a continuation of the bearish trend is likely.

MACD & RSI

The 15-minute MACD remained negative throughout the session, with a bearish crossover triggering shorting signals around 19:30 ET. RSI readings fell below 30 at the close, indicating oversold conditions and a potential bounce in the near term. However, the lack of follow-through buying suggests that bullish momentum is weak, and a retest of the 0.1447 level could see further declines.

Bollinger Bands

Volatility increased slightly late in the session, with Bollinger Bands widening from a narrow range. Price closed near the lower band at 0.1447, reinforcing bearish sentiment. A contraction in band width earlier in the session had signaled a potential breakout, which now appears to have unfolded to the downside.

Volume & Turnover

Volume spiked moderately during the breakdown phase around 20:15–20:30 ET, confirming the move below key support. However, turnover did not follow suit, suggesting limited conviction in the move. A bearish divergence appeared as price continued lower while volume tailed off, pointing to potential exhaustion or short-term stabilisation.

Fibonacci Retracements

Applying Fibonacci to the 0.1447–0.1559 swing, the 61.8% retracement level sits at 0.1508, aligning with a prior consolidation area. This level may serve as near-term resistance. The 38.2% retracement at 0.1478 could act as a potential bounce zone if buying returns.

Backtest Hypothesis

A potential backtesting strategy could focus on shorting STRKUSDT on a breakdown of the 0.1506–0.1512 resistance level with confirmation by volume and MACD. A stop-loss above 0.1519 and a target near 0.1447 could be set, with the Fibonacci 61.8% level (0.1508) as a key re-entry point if price consolidates. The current bearish structure suggests a high-probability setup for a short-term bearish trade, assuming volume continues to confirm the breakdown.