Starknet (STRK) is currently trading at $0.131024, showing a 24-hour decline of 3.95%. The price has fluctuated within a daily range of $0.008556, hitting a high of $0.138725 and a low of $0.130169.

The volume over the past 24 hours stands at approximately $73.42 million, representing 12.29% of the market cap. This relatively high volume in conjunction with the recent price drop indicates increased selling pressure, which could signal a bearish sentiment among traders.

Technical indicators reveal that the hourly moving averages are all trending down, with the 8 SMA at $0.1322, suggesting immediate bearish momentum. The 1-hour RSI is at 26, indicating that STRK is oversold in the short term, while the 7-day RSI at 47 suggests a lack of strong momentum either way.

From a longer-term perspective, the 7-day price change is down 14.03%, and the 14-day change is even more concerning at -44.10%. Conversely, the 30-day price change shows a positive trend of 20.06%, indicating some potential recovery over a more extended period, but this needs to be monitored closely.

Given the all-time high of $4.41 reached earlier in 2024, STRK is significantly below this peak, reflecting a potential for future upside. However, the current bearish indicators, including the short-term RSI and declining moving averages, suggest that the market sentiment is currently negative.

In conclusion, the analysis points to a Sell rating at this time. The combination of immediate bearish trends, oversold conditions in the short term, and the significant recent price declines suggest that further downside could be expected before a potential recovery can be confirmed.