STRK’s recent breakout is now being tested as buyers try to defend the $0.05 support level following a 28% rally. Traders are also watching $0.041 and $0.06 as important levels for the token’s next move.
Starknet’s STRK token is trading near $0.0576, up around 8.7% in the past 24 hours. The token briefly reached $0.0607, its highest price since May, after breaking above $0.05 over the weekend. The key question now is whether buyers can hold that level and turn it into firm support.
STRK had spent more than a week trading between $0.041 and $0.044 before breaking higher on October 3. The token has gained about 48% over the past seven days and has nearly doubled over the last month. Despite the recent recovery, STRK remains roughly 62% below its price a year ago.
Trading activity has also increased significantly. Daily volume is approaching $155 million, while Starknet’s market capitalization is around $428 million, putting STRK back inside the top 100 tokens.
Technical indicators are supporting the bullish move. On the daily chart, the MACD line stands at 0.0057, above the 0.0042 signal line, while the histogram remains positive. Weekly RSI has also moved higher after months of bullish divergence.
However, price levels remain the main focus. Starknet’s daily chart highlights two major areas:
- Resistance: $0.065, corresponding to the May high
- Support: $0.05, followed by $0.041 and $0.037
Bullish outlook: Holding above $0.05 and breaking through $0.065 could take STRK to its highest level since February and provide stronger confirmation of the breakout.
Bearish outlook: A decisive move below $0.05 would weaken the bullish structure and could expose the token to a retest of the $0.041 consolidation area.
On-chain activity also shows signs of accumulation, although it does not necessarily indicate broad-based demand. A wallet linked to Quanterty purchased 17.4 million STRK worth approximately $767,000. Pumpnomics reported that the wallet accumulated roughly $740,000 in STRK over the past week.
STRK recorded a negative spot netflow of $731,000 on October 4, meaning more tokens were withdrawn from exchanges than deposited. Exchange outflows can sometimes point to accumulation, although they are not conclusive evidence of buying.
Derivatives activity is picking up as well. CoinGlass data showed open interest rising 4% to $86.5 million, while derivatives volume increased 76%. The increase points to stronger trading activity but does not indicate whether the market is primarily positioned for gains or losses.
Network activity is showing some early improvement. Starknet generated $53,676 in revenue over seven days, surpassing $50,000 in weekly revenue for the first time, according to Chainspect data. While still relatively small, the increase suggests network fees are beginning to gain traction. Starknet’s total value locked is currently around $307 million.
Privacy-focused DeFi applications may also be contributing to interest in the network. X users Blue Clarity and Pumpnomics highlighted Starknet-based products such as privacy pools, private swaps and perpetuals. Still, STRK is not a privacy coin, and growing activity across these applications does not guarantee sustained demand for the token.
Token supply remains another factor to monitor. Around 7.42 billion of STRK’s 10 billion maximum supply is currently circulating, leaving future unlocks as a potential source of additional selling pressure.
For now, STRK’s outlook largely comes down to one question: can buyers keep the token above $0.05 and build enough momentum for another push toward $0.065?
