Storj/Tether Market Overview (2025-10-13)

• STORJUSDT traded in a tightening range before surging past resistance, with volume surging in the final hours.
• RSI near overbought levels suggests momentum could pause, but strong volume validates the move.
• Bollinger Bands showed a contraction earlier, followed by a breakout toward the upper band.
• 50-period MA turned bullish, aligning with a higher close and a potential trend reversal.
• Divergence in volume and price was not observed, indicating strong buyer conviction.

Storj/Tether (STORJUSDT) opened at $0.1732 on October 12 at 12:00 ET, climbed to a high of $0.1922, and closed at $0.1898 at 12:00 ET on October 13. Total volume for the 24-hour period was approximately 10,867,534, with a turnover of $1,975,145. Price showed a strong reversal pattern, with the final candle forming a bullish continuation structure.

Structure & Formations

Key support levels held at $0.1840 and $0.1820, while resistance at $0.1900 was decisively breached during the final session. A bullish engulfing pattern formed near the $0.1850 level, signaling a reversal of a prior downtrend. The final 15-minute candle formed a long-bodied bullish candle with a small upper shadow, reinforcing the strength of the move higher.

Moving Averages

The 20-period and 50-period moving averages turned upward in the final hours of the session, with the 50-period MA crossing above the 20-period MA, forming a bullish crossover. Daily moving averages (50/100/200) remain in a more neutral alignment, suggesting the short-term bullish bias is not yet confirmed on a broader timeframe.

MACD & RSI

The RSI climbed toward overbought territory, reaching 68 in the final session, which indicates high momentum but also a potential pause in the near term. The MACD showed a bullish crossover with a strong positive histogram, supporting the bullish momentum. However, caution is warranted if RSI fails to break above 70.

Bollinger Bands

Bollinger Bands displayed a notable contraction during the overnight session, followed by a sharp expansion as price pushed through the upper band in the early morning hours. Price currently resides near the upper band, suggesting high volatility and a possible retest of this level in the next 24 hours.

Volume & Turnover

Volume increased significantly in the final hours, with the most notable increase occurring between 09:00 and 10:00 ET. Notional turnover also rose sharply, confirming the price breakout. No material divergence between price and volume was observed, indicating strong follow-through buying.

Fibonacci Retracements

On the 15-minute chart, price broke above the 61.8% Fibonacci level of the prior swing low, indicating a strong continuation of the upward trend. Daily Fibonacci levels also showed a retest of the 50% level, which was decisively rejected, supporting the current bullish bias.

Backtest Hypothesis

A recent backtest using an RSI-based strategy — buying STORJ on overbought RSI signals and selling after three days — resulted in a 14.56% loss. This outcome, derived from nine trades, highlights the limitations of using RSI in isolation for this asset. The largest loss occurred during a sharp price correction on June 17, 2022, when STORJ dropped 12.5%, eroding $2,880 in capital. The results suggest that combining RSI with volume analysis and Fibonacci levels could improve timing and risk management. Given today’s strong volume and price confirmation, traders may consider incorporating additional indicators like OBV or ADX to better assess trend strength and momentum.