Date: Sat, Nov 22, 2025 | 06:40 AM GMT
The cryptocurrency market continues to face heavy selling pressure as both Bitcoin (BTC) and Ethereum (ETH) plunged over 1.5% in the past 24 hours. The correction triggered more than $1.69 billion in liquidations across the market, with long positions taking the biggest hit — over $1.45 billion wiped out during the same period.
This intense volatility has weighed heavily on major altcoins, including Starknet (STRK), which has fallen more than 25%. However, despite the steep drop, the chart reveals a technical structure that may be positioning STRK for a potential rebound in the coming sessions.
Head and Shoulders Pattern in Play
The 4H chart currently displays a developing head and shoulders formation — a commonly recognized bearish reversal pattern that often signals a shift in trend once the neckline is tested. STRK recently plunged from its head peak at $0.2794 and has now entered the neckline support range between $0.1630 and $0.1762.
This support region has acted as a strong demand zone in the past, triggering a bullish reaction and providing price stability. The latest wick into this area suggests that sellers are beginning to lose momentum while early signs of buyer activity are appearing. Additionally, STRK is holding close to the 75 MA, which may become a turning point if reclaimed.
What’s Next for STRK?
If STRK respects the neckline zone and successfully reclaims the 75 MA resistance at $0.1917, the momentum shift could spark a recovery toward the $0.2466 region — presenting a potential 45% rebound from current levels. Such a move would complete the right shoulder of the formation before any decisive next step develops, which could result in either a continuation upward or a retest back toward the neckline.
However, if the neckline support between $0.1630 and $0.1762 fails to hold, the bearish structure would extend, potentially exposing STRK to a deeper drop toward $0.1360, where the next significant liquidity pocket sits.
For now, the neckline region remains the key battleground. The market’s reaction at this level will determine whether STRK stabilizes for a rebound or enters a more aggressive breakdown phase.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
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