Starknet/Tether (STRKUSDT) Market Overview

• STRK/USDT traded in a downward trend with a large bearish move from 0.161 to 0.0771 before partial recovery.
• High volatility and volume spikes were seen during the sharp decline, followed by a bear trap forming in the 0.11–0.12 range.
• RSI and MACD signaled overbought and oversold conditions, while Bollinger Bands showed expansion and contraction phases.
• The 24-hour notional turnover hit over $15M, reflecting significant market activity during price swings.

Starknet/Tether (STRKUSDT) opened at 0.1634 on 2025-10-10 at 16:00 ET and closed at 0.1116 on 2025-10-11 at 12:00 ET. The 24-hour high reached 0.1658, while the low fell to 0.0297. Total volume for the 24-hour period was 266,095,791.57, with a notional turnover of approximately $29,617,605. The pair has shown a clear bearish bias with sharp retracement and consolidation.

Structure & Formations

The price formed a strong bearish trendline during the sharp decline from 0.161 to 0.0771. A long bearish candle with a small upper wick at 0.1615 to 0.1437 marked a key bearish reversal. A bear trap formation appears in the 0.11–0.12 range, with price bouncing off 0.1115 and then retreating. A bullish engulfing pattern at 0.1116–0.1140 may signal short-term buyers stepping in.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, confirming a bearish bias. The 50-period MA crossed under the 200-period MA, signaling a broader downtrend. The price remains below both the 50 and 200-period MAs, reinforcing bearish momentum.

MACD & RSI

MACD showed a large bearish divergence during the sharp drop, with a negative crossover below zero. RSI reached oversold levels at 0.0771 (RSI ~25), followed by a partial bounce but remains below 40. This suggests that bearish momentum may persist, with limited short-term oversold bounce.

Bollinger Bands

During the sharp decline, price dropped below the lower band, signaling high volatility. The bands then narrowed after 0.1115, suggesting a potential consolidation phase. Price is now trading near the middle band, indicating a possible continuation of the bearish trend.

Volume & Turnover

Volume spiked during the major 0.161–0.0771 drop (over $15M notional turnover) and again during the consolidation phase in the 0.11–0.12 range. The volume during the bounce was lower, indicating weak conviction in the recovery. Divergence between price and volume during the 0.1116–0.1140 consolidation suggests caution for further rebounds.

Fibonacci Retracements

Applying Fibonacci to the 0.161–0.0771 move, key levels include 0.1155 (38.2%), 0.1039 (50%), and 0.0923 (61.8%). Price found resistance at 0.1115, just above the 38.2% level, and appears to be consolidating around this area. A break below 0.1039 would signal a deeper correction.

Backtest Hypothesis

Given the identified Fibonacci retracement levels and bearish momentum signals, a potential backtest strategy could involve entering a short position when price breaks below 0.1115 with confirmation from RSI and MACD divergence. A stop-loss could be placed above 0.1155, with a target near 0.1039 and 0.0923. This approach leverages the combination of price action, momentum indicators, and volume dynamics to manage risk and reward.