Starknet's STRK token is experiencing significant price fluctuations, with conflicting signals from technical indicators and market dynamics. STRK recently defended a key demand zone around $0.19, showing strong buying interest and bullish momentum, as highlighted by a 21.5% surge in 24 hours earlier in November. Technical analysis, including the MACD nearing a bullish crossover and Fibonacci extensions, suggests potential upside targets at $0.2935 and $0.34 if momentum holds. Smart money activity, such as a $6.7 million long position with 5x leverage noted by Lookonchain, reinforces this optimism.
However, STRK's price dropped to approximately $0.14 due to profit-taking after a 110% rally between November 5 and 21, fueled by excitement over Starknet's BTC staking integration and privacy narratives. Coinglass data revealed about $1.2 million in long liquidations, adding selling pressure. The token's decline correlated with Bitcoin's 1.7% drop to $86,500 and a shift in the Crypto Fear & Greed Index to 'Extreme Fear' at 12/100. Technical weaknesses include breaches below the 50% Fibonacci level at $0.186 and the 7-day SMA at $0.195, with RSI near 40 indicating seller momentum.
Key support levels are now at $0.135–$0.142, where the 200-day EMA and 61.8% Fib level converge. A hold here could stabilize prices, while a break might lead to tests of September lows near $0.095. Overall, STRK's trajectory depends on Bitcoin's stability, sustained buying volume, and market sentiment, with traders monitoring retests and momentum for confirmation.
