Market Overview: Storj/Tether (STORJUSDT) – 24-Hour Analysis as of 2025-10-01

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• STORJ/USDT experienced a bullish reversal on 15-minute charts, forming a strong bullish engulfing pattern near 0.2281.
• Volume spiked significantly in the early morning hours, confirming a breakout above key resistance at 0.2339.
• RSI showed overbought conditions in the final hours, suggesting potential short-term consolidation ahead.
• Bollinger Bands widened sharply during the breakout phase, indicating increased volatility and momentum.

Storj/Tether (STORJUSDT) opened at 0.2247 on 2025-09-30 at 16:00 ET and closed at 0.2362 on 2025-10-01 at 12:00 ET, reaching a high of 0.2369 and a low of 0.2240. The 24-hour trading volume totaled 3,521,925 units, with a notional turnover of approximately $830,519.

Structure and candlestick formations showed a clear bullish shift starting from the 19:45 ET candle, where a strong bullish engulfing pattern formed after a consolidation phase. This was followed by a series of strong green candles, with a doji at 0.2339 signaling a potential pause or correction. Key support levels were identified at 0.2272 and 0.2240, while key resistance levels emerged at 0.2339 and 0.2359.

The 20-period and 50-period moving averages on the 15-minute chart crossed in a bullish manner during the late night hours, reinforcing the upward momentum. While the 50/100/200-day moving averages on daily charts remain untested in this data set, the short-term trend appears to be decisively bullish with price above all major moving averages for the last 6-8 hours.

MACD turned sharply positive in the late hours of the session, confirming the bullish momentum. RSI reached overbought territory above 70 during the final 3 hours, indicating a potential pullback could be on the cards. Bollinger Bands showed a sharp expansion during the breakout phase, with price reaching the upper band at 0.2369 before consolidating near the mid-band. This suggests increased volatility and a possible reversal or consolidation phase ahead.

Volume surged to over 1.3M units during the 10:15-10:30 ET period, confirming the breakout above 0.2339. Turnover also spiked in the early morning hours as the asset moved into higher volatility. A divergence between price and volume was not observed, but traders should watch for confirmation of a new trend continuation.

Fibonacci retracement levels from the 0.2240 to 0.2369 swing showed key levels at 0.2333 (38.2%) and 0.2316 (61.8%). These levels were tested twice in the morning, and a bounce above 0.2339 confirmed a possible continuation above the 61.8% level. A failure to hold above 0.2316 would signal a potential return to the 0.2272 support area.

Backtest Hypothesis
The described backtesting strategy suggests using a combination of a bullish engulfing candle pattern and a 50-period moving average crossover as entry signals. A stop-loss would be placed below the most recent support level, and a take-profit target would be set at the next Fibonacci retracement level above the current price. Given the recent confirmation of the bullish engulfing pattern and the moving average crossover, this approach could have provided a high-probability entry at 0.2281. A stop-loss placed below 0.2272 would have minimized risk, with a target above 0.2316 (61.8% Fib) as a logical profit-taking point. If incorporated into a live strategy, this approach could be evaluated for consistency across multiple timeframes and market conditions.