Starknet enjoys 11% surge, decouples from altcoin downturn

Starknet, an Ethereum layer-2 scaling solution, is up more than 11% in the past day.

According to price data from Crypto.news, Starknet (STRK) was trading at $0.438 at the time of writing. The altcoin reached a daily high of $0.444. This is 28% above its weekly low and shows strong upward momentum, while the broader altcoin market is experiencing a decline.

This upward trend is also supported by ecosystem growth. According to DeFiLlama, the total value locked (TVL) in Starknet has increased to $239.41 million, a significant increase of approximately 549% from the $36.91 million reported at the beginning of the year.

Rising TVL reflects increased confidence in the platform and contributes to STRK’s sustainable gains.

One of the main catalysts behind STRK’s recent surge was Ethereum co-founder Vitalik Buterin’s launch of $470,000 worth of STRK tokens, which led to a surge in interest and trading activity that raised the token’s profile and market value.

This momentum was further strengthened by the completion of the Starknet Bolt Upgrade on August 28, which increased the network’s speed and reduced costs by enabling parallel execution and block packaging.

The renewed optimism led to a 140% increase in trading volume in 24 hours, further fueling bullish momentum for STRK.

Analysts target $0.45 resistance level

Crypto analyst Falcão at X highlighted that $STRK is preparing for a major rally, with the key horizontal resistance zone being around $0.45.

He predicts that a break above this level, combined with increasing trading volume and strengthening momentum, will trigger a significant price rally.

STRK/USDT 1D chart shows current resistance levels | Source: X/Cryptojack

Similarly, crypto analyst CryptoJack suggested that STRK is approaching the critical resistance at $0.45.

If the token breaks this level, it could break out of the current ranging pattern and target the next target near $0.60.

Both analysts believe that the turning point for STRK is $0.45, and a break of this level could pave the way for significant gains.

Starknet has room to grow STRK price, RSI and MACD chart — September 7 | Source: crypto,news

On the 1D STRK/USDT chart, the token’s Relative Strength Index has risen to 60, confirming that the token is in an uptrend but still has room to grow before reaching overbought conditions.

The Moving Average Convergence Divergence indicator is also in line with the bullish outlook, showing that STRK is trading above the neutral line. Specifically, the blue MACD line is starting to move above the orange signal line, suggesting that bullish momentum is gaining momentum.

As STRK approaches resistance at $0.45—a level where it has repeatedly faced selling pressure—a breakout could signal a strong upside move. If it manages to clear this hurdle, a bullish reversal could be confirmed, potentially targeting the next resistance near $0.60.