Trading at $0.127 at press time, Starknet (STRK) has dropped 30% over the past week and 4.3% in the last 24 hours. Market activity is also slowing, with trading volume plunging 29% to $72.1 million.
Data from CoinGlass shows a similar trend in derivatives. Starknet futures volume fell 23% to $154.5 million, while open interest declined 11.6% to $56.5 million, signaling that traders are closing positions rather than opening new ones.
STRK Token Unlock Raises Risk of Further Downside
Starknet faces potential selling pressure as 120 million STRK tokens, valued at roughly $16.15 million, are scheduled for release. According to Tokenomist, this represents about 5.6% of the circulating supply, with only 22% of the total 10 billion STRK tokens unlocked so far.
Token unlocks often weigh on price, especially when market sentiment is weak. STRK currently has a market capitalization of $549.9 million and a fully diluted valuation of $1.26 billion. Without fresh liquidity or renewed demand, short-term downward pressure may persist as recipients of the unlocked tokens take profits or rebalance their holdings.
Technical Analysis
On the charts, Starknet continues to show signs of weakness. The relative strength index (RSI) sits at 45.3, reflecting neutral momentum with no clear reversal signal. MACD and momentum indicators remain negative, supporting a continuation of the bearish trend, while the average directional index (ADX) at 33.4 points to moderate selling strength.
The bearish outlook is reinforced as most short- and medium-term moving averages, from the 10-day to the 200-day, remain above the current price. Key support sits at $0.10, while the 200-day EMA, near $0.175, continues to act as a major resistance level.
A decisive break below support could drive STRK toward new local lows, whereas a rebound above $0.15 would signal that buyers are starting to assert control.
