Market Overview for Storj/Tether (STORJUSDT) on 2025-10-06

• Price declined from 0.2375 to 0.2317 before rebounding.
• Key support levels formed at 0.2313–0.2318 and 0.2325–0.233.
• Volatility expanded during early ET, with a consolidation phase later.
• Turnover spiked during key retracements, confirming bearish and bullish phases.
• RSI and MACD suggest mixed momentum with bearish divergence early in the session.

Storj/Tether (STORJUSDT) opened at 0.2365 on 2025-10-05 at 16:00 ET and closed at 0.2352 on 2025-10-06 at 12:00 ET, reaching a high of 0.2375 and a low of 0.2317. Total volume traded in the 24-hour period was 749,011.87, with a notional turnover of 174,749.56 USD. The price action was defined by a sharp bearish move followed by a consolidation and partial recovery.

Structure & Formations

The 24-hour price action displayed a bearish trend with multiple key support and resistance levels. Notable resistance emerged around 0.2358 and 0.2370–0.2375, with the 0.2370 level acting as a psychological ceiling. The price found support at 0.2313–0.2318, reinforced by a bullish reversal pattern on the 05:15–05:30 ET candle. A bearish engulfing pattern was visible at the session low, confirming the short-term bearish bias.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in a descending formation, confirming the bearish momentum. However, the price briefly crossed above the 20SMA during a late consolidation phase, suggesting possible short-term support. On the daily chart, the 50DMA crossed below the 100DMA and 200DMA, reinforcing the bearish trend and suggesting further downside potential for the next 24 hours.

MACD & RSI

The MACD histogram remained bearish throughout most of the session, with a bearish crossover on the morning candle confirming the trend. RSI dropped to 27–29 in the early hours, indicating oversold conditions, followed by a brief rebound. However, RSI failed to close above 50, signaling weak bullish momentum and the possibility of a continuation of the downtrend.

Bollinger Bands

Bollinger Bands displayed an expansion during the bearish phase, reflecting increased volatility as price approached key support levels. Price tested the lower band on multiple occasions, particularly around 0.2318, before bouncing. This suggests that traders are using the lower band as a short-term support zone, and a break below it could trigger further downside pressure.

Volume & Turnover

Volume surged during the early bearish breakdown, particularly on the 19:15–19:30 ET candle (0.2344–0.2333) and again during the 05:15–05:30 ET rebound (0.2329–0.2335), confirming the bearish move and subsequent bullish retracement. The notional turnover also spiked during these periods, suggesting strong institutional or algorithmic participation. Price and volume moved in alignment during key swings, validating the direction of the trend.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute chart, the 61.8% retracement level aligned with the 0.2345–0.2348 range, which was tested multiple times and acted as a minor resistance. On the daily chart, the 38.2% retracement level from the recent high of 0.2375 aligned with the 0.2356–0.2359 zone, which the price approached but failed to hold, suggesting continued bearish pressure.

Backtest Hypothesis

The backtest strategy under consideration involves a dual-timeframe approach using the 15-minute and daily charts. It enters short positions when the 20SMA crosses below the 50SMA on the 15-minute chart and the price breaks below the 61.8% Fibonacci retracement level, with a stop-loss placed just above the 50% level. A long position is triggered when the price closes above the 61.8% level and the RSI rises above 50. Given today’s action, this strategy would have entered a short trade on the 19:15–19:30 ET candle and exited during the consolidation phase, capturing a portion of the bearish move. The strategy may improve with additional volume filtering to avoid false signals during low-liquidity periods.