The StarkNet (STRK) token has experienced a significant price surge, rallying approximately 40% in 24 hours, according to CoinMarketCap data. This move was accompanied by a 51% increase in Open Interest, although funding rates turned negative, indicating potential for a short squeeze.
Analysts attribute the breakout to multiple factors, including accelerated STRK staking, which now represents 20% of the total token supply, combined with strong organic buying volume. The rally saw STRK break out of a rounding-bottom formation on the charts, a pattern typically signaling the end of a downtrend, as highlighted by analyst Alex Clay, who described it as a FULL SEND moment.
Price action showed STRK holding above key resistance levels around $0.19–$0.23, with analysts like Crypto Tony predicting an Elliott Wave Wave 3 setup that could propel prices toward targets of $0.50 or higher. The weekly chart confirmed a breakout from a 7-month consolidation range between $0.097 and $0.197, supported by rising volume and bullish indicators like the RSI crossing above 50 and On-Balance Volume (OBV) surging.
Short-term resistance levels are noted at $0.34 and $0.52, with the latter aligning with historical supply zones. If momentum sustains, further gains are anticipated, though traders are advised to watch for retracements to former resistance-turned-demand zones for entry opportunities.
