Market Overview for Storj/Tether (STORJUSDT) – October 8, 2025

• Price traded in a 0.2241–0.2277 range with a net downward bias.
• RSI hovered near neutral levels, indicating indecision.
• Bollinger Bands expanded in the early session, suggesting increased volatility.
• Volume spiked during the late-night sell-off, confirming bearish pressure.
• A bullish engulfing pattern formed in the early morning, but it failed to hold.

Storj/Tether (STORJUSDT) opened at 0.2251 on October 7 at 12:00 ET and closed at 0.2246 on October 8 at the same time. The 24-hour range was 0.2196–0.2279. Total volume was 2,038,694.0, and notional turnover reached $455,157.68. The session was marked by choppy price action and a bearish close.

Structure & Formations

Price action over the past 24 hours formed a broad consolidation pattern between key support at 0.2233 and resistance near 0.2274. A notable bearish reversal occurred in the early morning, where a large red candle with a long lower wick confirmed distribution pressure. Around 03:30–04:00 ET, a sharp drop from 0.2232 to 0.2211 marked a key support zone that held well for several hours. Later, a bullish engulfing candle formed around 07:00–08:00 ET but failed to sustain momentum, suggesting limited conviction.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are currently in a downtrend, with the 20-period line crossing below the 50-period line in the early morning, signaling a bearish short-term bias. On the daily chart, the 50-period and 200-period lines are aligned lower, reinforcing the longer-term bearish trend. Price has yet to show a meaningful reversal above either 50-period average.

MACD & RSI

The MACD histogram has been negative for most of the session, with a recent contraction as price found support near 0.2233–0.2235. RSI moved into oversold territory briefly around 03:00–04:00 ET but only showed a weak bounce. Currently, RSI sits at 47, indicating a neutral to slightly bearish momentum. The divergence between RSI and price during the overnight selloff was notable but did not lead to a sustained rebound.

Bollinger Bands

Bollinger Bands widened significantly during the overnight hours as volatility increased, with price breaking below the lower band and finding support at 0.2211–0.2213. This expansion and subsequent retraction suggest a potential consolidation phase. Price has since re-entered the band with limited penetration, indicating that volatility has normalized and that the market is working within a defined range.

Volume & Turnover

Volume surged during the overnight selloff, particularly in the 03:30–04:00 ET hour, confirming the bearish pressure. Turnover spiked in tandem, indicating significant liquidation or hedging activity. The later morning and afternoon saw more balanced volume distribution, with a modest increase in buying interest as price recovered slightly. However, the lack of a corresponding volume spike in the bullish phase suggests limited conviction in the recovery.

Fibonacci Retracements

Applying Fibonacci retracements to the overnight decline from 0.2232 to 0.2211, the 38.2% level at 0.2224 and the 61.8% level at 0.2218 acted as soft support areas that price briefly held. Price has since tested the 50% retracement at 0.2221, which appears to be a key psychological level. On a larger scale, the 24-hour swing from 0.2279 to 0.2196 shows 61.8% at 0.2238, which may serve as a near-term resistance level.

Backtest Hypothesis

The backtest strategy involves entering long positions when price closes above a 50-period moving average on the 15-minute chart, paired with a bullish engulfing pattern and a RSI above 50. Short positions are triggered when price closes below the 20-period MA, supported by a bearish hammer and RSI below 50. Using this rule-based approach, the strategy could have captured the morning rebound but would have been stopped by the bearish overnight move. A more refined version might include a stop-loss at the 61.8% Fibonacci level and target the next key resistance or support. The overnight volatility suggests that the strategy would benefit from a dynamic risk management framework to handle false signals.