STRK Breakout Hinges on Holding the $0.05 Support Level

STRK’s breakout is now facing a key test as buyers attempt to keep the $0.05 support intact following a 28% rally. Meanwhile, $0.041 and $0.06 remain important price levels to monitor.

Starknet’s native token is trading around $0.0576, marking an 8.7% gain over the past 24 hours. The token briefly climbed to $0.0607, reaching its highest price since May. The move follows a strong break above $0.05 over the weekend. The immediate challenge for buyers is defending that level as the primary support for the recent breakout.

STRK traded within the $0.041–$0.044 range for more than a week before breaking higher on October 3. The token has since risen roughly 48% over seven days and nearly 100% over the past month. Despite the recovery, STRK remains around 62% below its level from a year ago.

Trading activity has picked up sharply. Daily trading volume is close to $155 million, while Starknet’s market capitalization has reached approximately $428 million, moving the token back into the top 100 cryptocurrencies.

Technical momentum also supports the recent advance. On the daily timeframe, the MACD line is at 0.0057, above the 0.0042 signal line, while the histogram remains positive. The weekly RSI has also moved higher after showing bullish divergence for several months.

Even so, price action remains more important than technical indicators. The daily chart highlights two major levels for Starknet:

• Resistance: $0.065, which represents the May high
• Support: $0.05, followed by $0.041 and $0.037

Bullish scenario: If STRK remains above $0.05 and pushes through $0.065, the token could reach its highest price since February and provide further confirmation of the breakout.

Bearish scenario: A strong move below $0.05 would undermine the current setup and could send STRK back toward the $0.041 consolidation area.

On-chain activity suggests accumulation, although it does not necessarily prove widespread buying demand. A wallet associated with Quanterty purchased 17.4 million STRK valued at roughly $767,000. Pumpnomics reported that the wallet had accumulated around $740,000 worth of STRK during the previous week.

STRK’s spot netflow on October 4 was negative $731,000, indicating that more tokens were withdrawn from exchanges than deposited. Such exchange outflows can be interpreted as a sign of accumulation, although withdrawals by themselves do not confirm buying pressure.

Derivatives trading has also accelerated. CoinGlass data showed open interest increasing 4% to $86.5 million, while derivatives volume jumped 76%. The rise indicates greater market participation but does not reveal whether traders are predominantly positioned long or short.

There are also some early signs of stronger network activity. Starknet generated more than $50,000 in weekly revenue for the first time, reaching $53,676 over seven days, according to Chainspect data. Although the amount remains modest, the increase suggests network fees are beginning to rise. Starknet’s total value locked currently stands near $307 million.

Interest in privacy-focused DeFi applications could be another factor supporting activity. X users Blue Clarity and Pumpnomics pointed to Starknet-based applications including privacy pools, private swaps and perpetual trading platforms. However, STRK is not itself a privacy coin, and increased activity across these applications does not necessarily translate into sustained demand for the token.

Token supply is another factor investors should monitor. Roughly 7.42 billion of STRK’s 10 billion maximum supply is currently circulating, meaning future token unlocks could potentially create additional selling pressure.

For now, the central question remains whether Starknet’s STRK can maintain the $0.05 support level long enough to make another attempt at $0.065.

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