Starknet/Tether (STRKUSDT) Market Overview

• STRKUSDT rose from 0.1249 to 0.1303 amid midday buying, but closed near 0.1298 by the next 24 hours.
• Strong volatility expansion was observed between 19:00–21:45 ET, with a 6.1% range of $0.1301 to $0.1365.
• Volume spiked early (18:00–19:30 ET) and again post-23:00, indicating strong participation across market cycles.
• Price corrected sharply after 23:00 ET, with bearish momentum evident in closing candlestick formations.
• A 61.8% Fibonacci retracement from the high at 0.1365 aligns closely with the current close, suggesting a likely continuation or consolidation phase.

Market Action and Volume

Starknet/Tether (STRKUSDT) opened at 0.1249 on October 12 at 12:00 ET, rising to a high of 0.1365 before closing at 0.1298 on October 13 at 12:00 ET. The pair traded within a 5.2% range (0.1239–0.1365) over the 24-hour period. Total volume reached approximately 27.2 million, and notional turnover was around $3.4 million, showing moderate liquidity and active participation during key price swings. The price action appears to reflect a tug-of-war between bullish momentum during the day and bearish follow-through at night.

Support/Resistance and Candlestick Patterns

Key resistance emerged at 0.1335 and 0.1365, both of which were tested but failed to hold. A bearish engulfing pattern formed at 23:30 ET (closing 0.1302 to 0.1298) after a previous bullish candle, hinting at a potential reversal. Notable support levels appear near 0.1300 and 0.1280, with the former being tested multiple times over the course of the session. A doji formed near 0.1300 at 02:00 ET, suggesting indecision and a potential consolidation phase.

Moving Averages and Bollinger Bands

The 20-period and 50-period moving averages on the 15-minute chart crossed above 0.1260 before the close, indicating a gradual shift in bias toward the bullish side, though this momentum weakened after 22:00. Price consistently traded above the 20 SMA during the morning session but fell back below it by the early hours of the next day. Bollinger Bands showed a noticeable expansion from 19:00–20:45 ET, with price testing the upper band at 0.1365. By the close, price had fallen back toward the middle band, signaling a reduction in volatility and a potential bearish reversal.

RSI and MACD Momentum

Relative Strength Index (RSI) levels reached 63–65 during the morning and early afternoon, indicating overbought conditions. By the late evening, RSI dipped below 50, confirming a bearish shift. The MACD line crossed below the signal line in the 23:00–00:15 ET window, forming a bearish crossover that aligned with price action. Negative histogram bars increased in size after 23:00, reinforcing the bearish momentum.

Volume and Turnover Divergences

Volume spiked during the 18:00–19:30 ET and 23:00–01:00 ET periods, particularly during the 23:00 candle, when turnover increased sharply despite a bearish close. This divergence between volume and price could signal a potential reversal or a continuation of bearish momentum. The highest notional turnover occurred around 18:00 ET when the price broke above 0.134, but failed to hold above it. A divergence in volume and price during the final hours of the period could suggest a shift in sentiment.

Fibonacci Retracements and Price Structure

Applying Fibonacci retracements to the 0.1249–0.1365 swing, the 61.8% level at approximately 0.1316 was tested multiple times, with price failing to break above it decisively. A 38.2% retracement at ~0.1333 also acted as resistance, reinforcing a potential bearish bias. On the daily chart, the 50-day moving average currently sits around 0.1290, suggesting that a test of this level in the next 24–48 hours is highly probable.

Backtest Hypothesis

Given the current technical setup, the next logical step would be to back-test a momentum-based strategy based on RSI-14 overbought/oversold triggers. While STRKUSDT is not currently covered in our indicator database, if we were able to obtain a proxy for RSI-14 (e.g., from a comparable token or a different exchange), we could model a strategy that enters short positions when RSI crosses above 65 with a bearish MACD crossover, and exits upon a close below the 20-period moving average. This would align with the observed bearish momentum in the final hours of the 24-hour period.