Thomas Daniels
Starknet, an Ethereum layer-2 scaling solution, has surged over 11% in the past 24 hours, bucking the downward trend affecting the broader altcoin market. As of this writing, Starknet (STRK) is trading at $0.438, having reached an intraday high of $0.444. This marks a 28% increase from its weekly low, showcasing strong upward momentum despite a market-wide slump.
Data from DeFiLlama underscores Starknet’s ecosystem growth, with the platform’s total value locked (TVL) soaring to $239.41 million—a 549% rise from $36.91 million at the beginning of the year. This significant increase reflects growing confidence in the platform, further boosting STRK’s performance.
Key to Starknet’s rally was Ethereum co-founder Vitalik Buterin’s recent unlocking of $470,000 worth of STRK tokens, igniting heightened interest and trading activity. Additionally, the August 28 completion of the Starknet Bolt Upgrade, which improved network speed and reduced costs, has further strengthened the token’s bullish momentum.
Starknet’s trading volume spiked by 140% over the past 24 hours, further reinforcing the ongoing price surge. Technical analysts point to $0.45 as a key resistance level. Crypto analyst Falcão noted that STRK is approaching this critical zone, and a breakout above could trigger a significant price rally. Similarly, CryptoJack has identified the same level, suggesting a potential move toward $0.60 if the token exits its current range-bound pattern.
From a technical perspective, the STRK/USDT chart highlights a bullish trend, with the token’s Relative Strength Index (RSI) sitting at 60, indicating room for further growth. Additionally, the MACD indicator shows bullish momentum, with the blue MACD line crossing above the orange signal line, reinforcing the upward trajectory.
If STRK breaks through the $0.45 resistance, analysts predict a strong move toward the next resistance at $0.60, potentially confirming a bullish reversal.
