STRK price breaks key resistance after Bitcoin staking goes live | Credit: Derek Fenech
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Key Takeaways
Starkne’s price surges 40% in seven days, reaching its highest since May.
Bitcoin staking integration sparks demand and $100 million in deposits.
Bullish breakout targets $0.27 to $0.37 if momentum and inflows persist.
STRK, the native token of the Ethereum Layer-2 network Starknet, has surged to its highest level since May 22.
Over the past week, the altcoin has surged more than 40%, driven by increased demand and capital inflows into the altcoin ecosystem.
But that’s not the whole story. A closer examination of the charts and indicators reveals that momentum may be intensifying, with Starknet’s price poised for another leg higher.
Starknet Breaks Out
Roughly a week ago, STRK traded near $0.13. As of this writing, it has climbed to $0.18.
According to the 4-hour chart, Starknet’s price has broken above the upper trendline of a falling channel. The breakout signals an apparent change in control, as bulls have overpowered sellers.
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As seen below, the Bull Bear Power (BBP) indicator has produced a series of solid green histogram bars, indicating that buyers are in control while bearish pressure continues to wane.
In addition, the Supertrend indicator’s green line is below the current price, acting as a strong support for the upswing.
If this setup holds, Starknet’s price could have enough fuel to retest the next key resistance at $0.25. If successful, this move would represent nearly a 40% upside from its current value.
STRK/USD 4-Hour Chart | Credit: TradingView
However, bulls didn’t start buying Starknet blindly. Instead, they had a strong thesis behind the move.
BTC Integration Sparks Demand
According to CCN’s findings, the catalyst was Starknet’s integration of Bitcoin (BTC) staking, a development that opened the door to a surge in demand.
On Sept. 30, the project officially announced that Bitcoin staking was live on its network.
This marked a significant milestone for the Layer-2 ecosystem — allowing BTC holders to participate in on-chain staking and earn yields without leaving the Starknet environment.
Since the launch, adoption has been quick. The total value of assets staked on Starknet has surpassed $100 million, with Bitcoin accounting for roughly 65% of that figure.
“Over 100,000,000 dollarinos are now staked on Starknet. Bitcoin staking launch alone boosted that amount by more than 65% in under a week,” The project stated.
Yet, STRK Token Remains Undervalued
Despite Starknet’s price recovery, on-chain data tells a more interesting story.
According to Santiment, the Market Value to Realized Value (MVRV) ratio currently stands at -16.96%, a level that suggests the altcoin remains undervalued relative to the average holder’s cost basis.
Historically, STRK has reached its market tops when the MVRV ratio exceeds 166%. By contrast, the current negative reading suggests that many investors are still holding unrealized losses, thereby leaving them with less incentive to sell.
With limited profit-taking pressure, STRK’s price might still have room to climb before approaching an overheated zone.
STRK Price Prediction
On the daily chart, Starknet’s setup reinforces a strong bullish bias. As shown below, STRK has successfully broken above a key resistance line, flipping it into potential support.
At the same time, the Awesome Oscillator (AO) continues to print increasing green histogram bars, confirming that momentum is tilting in favor of the bulls.
Meanwhile, the Money Flow Index (MFI) has surged to 88.91, indicating intense buying pressure.
If this momentum holds, Starknet’s price could retest the $0.27 resistance zone, with a breakout setting the stage for a potential rally toward $0.37, aligning with the 0.382 Fibonacci level.
However, it’s worth noting that high MFI readings can also precede short-term pullbacks. A drop in demand or a broader correction in BTC and ETH could invalidate this bullish thesis.
In such a case, Starknet’s price might revisit $0.10, which could be a crucial support zone.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
