Starknet/Tether USDt Market Overview

• STRKUSDT broke above key resistance, surging from 0.1332 to 0.1370.
• MACD and RSI confirm bullish momentum, with RSI reaching overbought territory.
• Volatility spiked midday, with turnover rising significantly during the 0.135–0.137 range.
• Price consolidates near a Fibonacci 61.8% retracement level, suggesting potential pullback.
• Bollinger Bands reflect a recent expansion, indicating a high-volatility phase.

Starknet/Tether USDt (STRKUSDT) opened at 0.1332 on 2025-09-10 at 12:00 ET, hit a high of 0.1371, a low of 0.1310, and closed at 0.1340 at 12:00 ET on 2025-09-11. Total volume for the 24-hour period was 49,648,816.20, with notional turnover of approximately 6,487,987 USD.

Structure & Formations

The candlestick pattern reveals a strong breakout above the 0.1340 resistance level earlier in the session, followed by a brief pullback to test it as support. A bullish engulfing pattern formed around 0.1340–0.1350, confirming the upward shift in sentiment. Key support levels emerged at 0.1320–0.1330 and 0.1310–0.1315. A bearish divergence appears near 0.1363–0.1366, suggesting the move up may not be sustainable without confirmation above 0.1370.

Moving Averages

On the 15-minute chart, the price closed above the 20-period and 50-period moving averages, reinforcing the bullish bias. The 20-period MA stands at 0.1343, while the 50-period MA is at 0.1340. On the daily chart, the 50-day MA is at 0.1335 and the 200-day MA at 0.1310, with the price currently above both, indicating a stronger near-term trend.

MACD & RSI

The 15-minute MACD line is above the signal line, with a bullish histogram, indicating ongoing momentum. The RSI stands at 72, near overbought territory, suggesting a possible short-term correction. However, as long as the RSI remains above 50 and the MACD does not turn negative, the bullish trend remains intact.

Bollinger Bands

Bollinger Bands show a significant expansion during the breakout, with the price trading near the upper band for several periods. The recent consolidation at 0.1340–0.1350 has pulled the price closer to the middle band, which could act as a support/resistance level if the trend stalls.

Volume & Turnover

Volume spiked during the breakout phase, with notable activity between 0.1340 and 0.1370. The highest volume was recorded in the candle that closed at 0.1370. Notional turnover followed a similar pattern, confirming the strength of the move. However, a divergence appears in the final hours, with rising price but declining volume, signaling a potential near-term reversal risk.

Fibonacci Retracements

Applying Fibonacci retracements to the key swing from 0.1310 to 0.1371, the 61.8% retracement level is at 0.1344. The price closed near this level, suggesting it could act as a magnet for buyers. A break below 0.1332 would test the 50% retracement at 0.1341, which could then turn into support.

Backtest Hypothesis

The backtest strategy described involves entering long positions on a bullish engulfing pattern confirmed by a close above a 20-period MA, with a stop-loss below the low of the engulfing pattern and a target at the next Fibonacci retracement level (e.g., 61.8%). Given today’s data, the 0.1340–0.1350 range aligns well with this strategy, where the bullish engulfing pattern and 20-period MA crossover occurred. If applied in real-time, this strategy would have entered the long position on or around 2025-09-11 at 02:30 ET, with a stop-loss at 0.1330 and a target at 0.1344. The price closed near the target, validating the approach, though divergence in the final hours may require a reevaluation of the exit timing.