Latest Market Data (from Coingecko):

• Price: $0.3878 (as of the latest update)
• Market Cap: $691.1 million (Rank: 108)

• 24h High: $0.4064

• 24h Low: $0.3879

• 24h Price Change: -2.5% (decrease of $0.0099)

• Market Cap Change 24h: -$15.73 million (2.22% decrease)

• Total Volume (24h): $114.06 million

• Circulating Supply: 1.78 billion STRK

• Max Supply: 10 billion STRK

• ATH (All-Time High): $4.41 (Feb 20, 2024, down 91.15%)

• ATL (All-Time Low): $0.3212 (Aug 5, 2024, up 21.56%)

• Fully Diluted Valuation: $3.88 billion

Fundamental News and Sentiment Analysis (Investing, Bloomberg, Reuters, Reddit):

• Recent Developments:

• Ecosystem Growth: Starknet has been expanding its developer and application ecosystem, with multiple DeFi and NFT projects being built on the network.
• Scaling Technology: Starknet continues to push forward as a leader in Layer-2 solutions, focusing on Ethereum scalability. Their Zero-Knowledge Rollup (ZK-Rollup) technology is gaining widespread adoption in the Ethereum ecosystem.

• Community Sentiment: The Starknet community has been largely positive on platforms like Reddit, particularly due to its strong technology fundamentals. However, there has been some concern regarding short-term price volatility.

• Institutional Backing: Starknet has drawn interest from institutions and developers, with many experts in the blockchain space seeing it as a crucial player for Ethereum scalability.

Technical Analysis Based on Stocknai Framework:

1. Qualitative Analysis:

• Technology Leadership: Starknet’s focus on ZK-Rollups positions it as one of the strongest projects addressing Ethereum’s scaling issues. Its ability to provide fast, secure, and cost-effective transactions on Ethereum is a significant growth driver.

• Market Position: As Layer-2 solutions gain traction, Starknet is well-positioned to capture market share. With Ethereum congestion still an issue, Starknet offers a scalable solution that could drive long-term value.

2. Quantitative Analysis:

• Price: Currently trading at $0.3878, the token is down 91.15% from its ATH, indicating potential upside if market conditions improve.

• Trading Volume: The 24h trading volume of $114 million shows substantial liquidity, indicating sustained market interest.

• Market Cap: Starknet’s market cap of $691.1 million positions it as a mid-cap crypto with potential for high growth.

3. Technical Indicators:

• RSI: Starknet’s RSI levels are currently neutral, indicating that the token is not overbought or oversold.

• MACD: A slight bearish divergence has been noted in the MACD, suggesting some downside risk in the short term.

• Support and Resistance:

• Support Level: $0.3879 (current low)

• Resistance Level: $0.4064 (24h high)

4. Volume Analysis:

• Starknet’s trading volume suggests that there is sustained market participation. The recent decrease in price might have been caused by short-term profit-taking, but the overall trend remains relatively strong due to interest in Layer-2 scalability.

5. Probabilistic Analysis:

• Entry Point: $0.3878 is a favorable entry point, close to the recent low. If the price drops further, consider an additional buy at $0.37.

• Target Price (TP): A short-term target of $0.42 can be considered, which reflects a moderate increase from current levels. A long-term target could be around $0.50 if adoption continues to grow.

• Stop Loss (SL): Setting a stop loss at $0.36 would help mitigate downside risk.

• Probability of Price Increase: There is a moderate probability for price appreciation in the short term, driven by continued development and market interest in Layer-2 solutions.

Conclusion:

Starknet (STRK) has shown strong fundamentals, particularly due to its leadership in the Layer-2 scaling space. Despite the recent price decrease of 2.5%, the project’s underlying technology and growing ecosystem make it a solid option for investors looking to bet on Ethereum scalability.

Recommendation: Moderate Buy with a target price of $0.42 and a stop loss at $0.36.