While some cryptocurrencies are still dealing with the aftermath of the October slump and remain below their highs from the previous month, Starknet continues to stand out. Its price has not only exceeded the October peak, but it has also developed multiple bullish structural patterns, indicating strong upward momentum.

Starknet technical analysis

STRKUSD - 1 Day Time Frame

Entry strategies generally fall into two categories: positioning for a potential trend reversal or positioning for continuation of the existing trend. Starknet currently fits into the latter, with the focus on identifying parameters that support a continuation of the bullish movement.

The first key parameter is the support zone created during the October decline. Initially a resistance area (highlighted in orange on the chart), this zone demonstrated its importance again more than a month later. In mid-November, the price closed above it, turning it into support.

After this shift, the price rebounded from the newly formed support and continued higher. The momentum behind this move was strong enough to establish an additional support zone, marked in blue for clarity.

Starknet price target

In recent sessions, Starknet has maintained its bullish trajectory, making it a potential candidate for long-position setups. However, because the price currently sits near an internal performance peak, a split-volume approach could be prudent. This means opening half of the planned position at the current price and reserving the remaining half for a potential pullback toward the $0.23 level.

A Stop Loss order could be placed near $0.171 to establish clear risk parameters. Meanwhile, Take Profit targets may be set at Buy-Side Liquidity levels, including $0.37, $0.47, and this year’s high around $0.54.