Starknet falls nearly 12% as mainnet upgrades and DeFi incentives fail to lift sentiment

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Starknet slides 11.68% today

Highlights

Starknet completed its mainnet upgrade to version 0.14.4, adding new DeFi and privacy functions for users.
Starknet token activity and total value locked roughly doubled after new Bitcoin bridging incentives, with over 800 million STRK reported staked.
STRK/USD currently trades above key moving averages with short-term bullish momentum, but intraday price is pressured after an 11.68% drop and a downside gap, with the forecast range at $0.0416 to $0.0706 over the next five days.

Activity and staking surge amid continued market selling pressure

Multiple sources reported a significant rise in Starknet token activity in early October 2026, reflecting new incentives for bridging Bitcoin and weekly strkBTC faucet rewards. A mainnet upgrade to version 0.14.4 was completed, enabling enhanced DeFi and privacy functions. Over 800 million STRK were reported staked and Starknet's total value locked approximately doubled since the incentive program launch, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, sees STRK facing heavy pressure despite positive news on staking and upgrades. He cautions that the 11.68% price drop, alongside a downside gap, indicates waning investor commitment and fragile sentiment. Overbought technical signals and mixed momentum confirm that upside risks are limited for now. The analyst notes that major support at $0.0435 is critical, but close proximity to daily lows leaves the market exposed. "Starknet price action suggests insufficient follow-through on upgrades — investors should anticipate further downside if bullish momentum fails to recover."

Viktoras Karapetjanc, expert at Traders Union, highlights robust fundamentals following Starknet’s mainnet upgrade and strong staking volumes. He points to the doubled total value locked and new DeFi features as clear drivers of long-term adoption. Despite the pullback, the bullish structure remains intact above key moving averages and incentives continue to attract ecosystem interest. "This market offers multiple setups for further growth — I expect consolidation will lead to renewed upside momentum in the days ahead."

Sholanke Dele, market strategist, sees Starknet’s drop as a sign that incentives and news have failed to reverse bearish market sentiment. He views the sharp selloff and overbought technicals as fresh warning flags. Macro risks and pressures remain dominant even with ecosystem growth. "I do not expect sustained gains until market participants see broader support returning — rallies here look vulnerable."

Support holds despite mixed momentum and overbought signals

STRK/USD trades above all daily moving averages, with the current price at $0.0517 sitting above the MA-20 ($0.043), MA-50 ($0.0335), and MA-200 ($0.034). This setup signals persistent bullish momentum across short, medium, and long-term trends. The Ichimoku Kijun at $0.0435 serves as the nearest support, with resistance close by at $0.0525. Momentum indicators are mixed: MACD and ADX both signal strong buying pressure, while RSI stands elevated at 65.68. However, the Commodity Channel Index (CCI) is overbought and Stochastic RSI flashes a strong sell, suggesting near-term downside risk. Bull/Bear Power remains positive, with the Awesome Oscillator also in buy mode, but the Hull Moving Average issues a sell signal. Price action is down $0.0068 or 11.68% for the day, having opened with a downside gap of about 9.57% and trading close to the daily low. Intraday volatility is 1.52%, and sentiment remains pressured.

Earlier, analysts noted that Starknet was exhibiting robust upside momentum supported by technical strength and network-driven incentives. The current decline introduces a heightened risk of further downside, making the $0.0435 Ichimoku Kijun a critical support level to watch should volatility persist.

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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