STRK slides over 10% as technicals show resilience despite recent exploit

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Starknet drops 10.28% today to $0.044

Highlights

The Nostra lending protocol on Starknet was exploited via a manipulated price feed, resulting in $3.5 million in losses.
The Starknet ecosystem absorbed the on-chain exploit but STRK continues to trade under broad selling pressure.
Technical analysis shows STRK trades above key moving averages with strong bullish momentum, but intraday price dropped 10.28% and the next five-day range is expected at $0.0352 to $0.0624.

Exploit losses drive sentiment shift as upside stalls near recent highs

Starknet, an Ethereum Layer-2 network, recently saw its Nostra lending protocol exploited due to a manipulated price feed, resulting in losses of approximately $3.5 million. Market participants noted that this incident occurred as Starknet reached its highest level since June 19. The ecosystem showed resilience to the on-chain vulnerability, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, notes that STRK’s sharp drop exposes ongoing vulnerability despite its recent outperformance. He points to overbought signals across indicators, with technical momentum clashing against clear profit-taking and market pressure. The Nostra protocol exploit remains a key risk factor, raising doubts about underlying security and investor confidence. Kharitonov views the upside scenario as limited while unresolved issues linger. "Until the exploit’s impact fades and overbought conditions normalize, I see more downside than genuine recovery potential here."

Viktoras Karapetjanc, expert at Traders Union, observes that Starknet has preserved its bullish technical structure despite recent volatility. He highlights the network’s resilience in handling the Nostra exploit, reflecting strong market confidence. Karapetjanc sees further growth likely if price reclaims $0.0463, with buyers still dominant across key timeframes. "I believe Starknet’s fundamentals remain solid and there is clear opportunity for continued upside in the near term."

Sholanke Dele, market strategist, sees STRK weighed down by profit-taking and lingering doubts after the exploit news. He observes short-term volatility as a sign of fragile sentiment across macro risk assets. Dele believes recovery will be limited while trust in the ecosystem remains under pressure. "STRK faces downside risk until market confidence is properly restored."

Overbought risks rise amid bullish signals and sharp volatility spike

STRK/USD is trading above the 20-day, 50-day, and 200-day moving averages at $0.0313, $0.0275, and $0.0337, respectively, indicating a bullish bias across all observed timeframes. The Ichimoku Kijun support is at $0.0376, with price holding above both near-term support and these trend-confirming levels. However, the longer-term trend alignment remains bearish. Momentum readings remain strong, with the MACD and ADX both supporting a buy scenario. The RSI, Stochastic RSI, and CCI all indicate overbought conditions. BBP at 0.0159 shows buyers continue to dominate intraday momentum, and the Awesome Oscillator reinforces bullish momentum. On the day, the price is down to $0.044, slipping 10.28% with a downside gap of roughly 1.02% from the open and trading near the session low. Intraday volatility is 9.50%, and market tone reflects sharp profit taking and pressure after the open, contrasting strong underlying momentum with clear overbought risk.

Earlier, analysts noted that Starknet's strong technical momentum and robust investor interest positioned it for continued bullish performance. The current article adds a new dimension, with volatility and profit taking now driving price action; traders should watch for a decisive move above $0.0463 or below $0.0376 to signal the next directional trend.

Source of Data: STRK Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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