Market Overview for Storj/Tether (STORJUSDT) on 2025-10-04

• • STORJUSDT opened at 0.2442 and traded between 0.2401 and 0.2484, closing at 0.2417.
• • Price action shows a bearish bias after forming a descending triangle and a bearish engulfing pattern.
• • RSI indicates oversold conditions, while MACD signals weak bearish momentum.
• • Bollinger Bands show price near the lower band, suggesting low volatility.
• • High volume and low turnover divergence signal weakening conviction in the recent downtrend.

Market Overview for Storj/Tether (STORJUSDT)

Storj/Tether (STORJUSDT) opened at 0.2442 on 2025-10-03 12:00 ET, traded to a high of 0.2484 and a low of 0.2401, and closed at 0.2417 by 2025-10-04 12:00 ET. Total volume over the 24-hour window was 1,487,000.00, with a turnover of approximately $359,042.00. The asset displayed a bearish bias as it moved lower after a brief attempt to break above 0.2460 failed.

Structure & Formations

Price action on the 15-minute chart suggests a bearish setup, characterized by a descending triangle formation beginning from 0.2484 and tightening into 0.2440. A key bearish engulfing pattern formed at 0.2458–0.2442, confirming a shift in sentiment. A doji was also observed at 0.2449, indicating indecision among traders around that level. Notable support levels include 0.2436 and 0.2424, while 0.2455 acts as a short-term resistance.

Support & Resistance

The most immediate support appears at 0.2424, where the price found a floor on several occasions during the night. Further support lies at 0.2400–0.2410, which has not yet been tested. On the resistance side, 0.2455–0.2460 is a key area to watch, as failure to reclaim this level could signal continued weakness.

Moving Averages

Using the 20 and 50-period moving averages on the 15-minute chart, the price is currently below both, reinforcing the bearish tone. The 50-period line is slowly descending, indicating that the downtrend remains intact. For daily analysis, the 50 and 200-day moving averages are not available in the provided data, but the trend on shorter timeframes suggests caution.

MACD & RSI

The MACD (12, 26, 9) shows bearish momentum, with the line dipping below the signal line and remaining in negative territory. RSI has entered oversold territory at approximately 34, suggesting a potential short-term bounce is possible. However, without a strong volume confirmation or break above 0.2455, the oversold condition may not lead to a meaningful recovery.

Bollinger Bands

Price has spent much of the 24-hour period near the lower Bollinger Band, indicating low volatility and consolidation. A contraction in band width occurred around 0.2445, suggesting a potential breakout. However, the lack of volume during that contraction implies the breakout may be weak or short-lived.

Volume & Turnover

The highest volume spike occurred around the bearish engulfing pattern at 0.2458–0.2442, confirming the shift in sentiment. However, turnover did not follow suit, showing a divergence that could indicate a lack of conviction in the move lower. A similar divergence was observed during the attempted recovery around 0.2448, which failed to hold.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.2484 to 0.2401, the price has found support near 0.2424 (61.8% retracement). The 50% level at 0.2442 is currently acting as a pivot, with further support at 0.2436 (38.2%). On the daily chart, Fibonacci levels are not applicable due to insufficient data.

Backtest Hypothesis

For a potential backtest strategy, a trader could look to open short positions on confirmation of a bearish engulfing pattern or doji below 0.2455, targeting support at 0.2424 with a stop-loss placed above 0.2460. The RSI in oversold territory may present a short-term opportunity for a counter-trend long, but only if accompanied by a breakout above 0.2455 with rising volume.

Forward Outlook & Risk

Over the next 24 hours, traders should watch for a potential bounce off the 0.2424 support level or a test of the 0.2455 resistance. While RSI in oversold territory may attract buyers, the bearish bias remains intact without strong volume confirmation. Investors should remain cautious and watch for divergences in volume and price action.