STRK’s latest breakout is facing a crucial test as buyers work to defend the $0.05 support level after a 28% rally. The $0.041 and $0.06 areas also remain important for determining the token’s next direction.
Starknet’s STRK token is trading around $0.0576, gaining roughly 8.7% in 24 hours. It briefly climbed to $0.0607, marking its highest price since May. The move follows a strong break above $0.05 over the weekend, leaving buyers focused on whether the former resistance can now hold as support.
Before the breakout on October 3, STRK spent more than a week moving between $0.041 and $0.044. Since then, the token has advanced about 48% over seven days and nearly doubled in the past month. Even with that recovery, STRK is still approximately 62% below its price from a year earlier.
Market activity has strengthened alongside the price move. Daily trading volume is near $155 million, while STRK’s market capitalization has climbed to roughly $428 million, returning it to the top 100 tokens by market value.
Momentum indicators are also pointing higher. The daily MACD stands at 0.0057, above its 0.0042 signal line, while the histogram remains positive. On the weekly timeframe, RSI has turned upward after months of bullish divergence.
Still, the most important signals are coming from price levels rather than momentum indicators. The key areas on Starknet’s daily chart are:
- Resistance: $0.065, the May high
- Support: $0.05, followed by $0.041 and $0.037
If STRK holds above $0.05 and clears $0.065, the move could extend toward its highest level since February, strengthening the case that the recent breakout is genuine.
On the other hand, a sustained break below $0.05 would weaken the bullish setup and potentially send the token back toward the $0.041 consolidation range.
Blockchain data provides some evidence of accumulation, although it is not enough to establish broad market demand. A wallet linked to Quanterty acquired 17.4 million STRK worth around $767,000. Pumpnomics also reported approximately $740,000 in STRK purchases by the wallet over the previous week.
Spot market flows offered another positive signal on October 4. STRK recorded a negative netflow of $731,000, meaning more tokens moved off exchanges than onto them. While such outflows can be associated with accumulation, they do not independently confirm buying pressure.
Activity in derivatives has increased as well. CoinGlass data showed open interest rising 4% to $86.5 million, while derivatives volume jumped 76%. The figures point to increased participation but do not show whether traders are betting primarily on a rise or a decline.
Starknet is also showing early signs of stronger network activity. According to Chainspect data, the network generated $53,676 in revenue over seven days, its first time exceeding $50,000 in weekly revenue. The figure remains modest but indicates that network fees are beginning to increase. Total value locked on Starknet is around $307 million.
Growing interest in privacy-oriented DeFi applications could provide another source of activity. X users Blue Clarity and Pumpnomics highlighted Starknet applications including privacy pools, private swaps and perpetuals. However, STRK itself is not a privacy-focused token, and activity on these applications does not necessarily translate into lasting demand for STRK.
Supply dynamics remain a potential risk. About 7.42 billion STRK tokens are currently circulating out of a maximum supply of 10 billion. Future unlocks could therefore introduce additional selling pressure.
The immediate outlook is centered on the $0.05 level. If buyers can defend that support, STRK could attempt to break $0.065. A loss of $0.05, however, would put the $0.041 zone back in focus.
