Market Overview for Storj/Tether (STORJUSDT) – 2025-10-07

• Price dropped from $0.2393 to $0.2256 over 24 hours, with sharp selloff late ET.
• Volatility expanded in the second half of the day, with volume spiking at 15:15–16:00 ET.
• RSI and MACD signaled bearish momentum, with price failing key Fibonacci support levels.
• Bollinger Bands showed significant contraction earlier in the day followed by a sharp expansion.
• Downtrend confirmed by 20/50-period moving averages, suggesting further bearish pressure likely.

Storj/Tether (STORJUSDT) opened at $0.2370 on 2025-10-06 at 12:00 ET and reached a high of $0.2393 before closing at $0.2256 at 12:00 ET on 2025-10-07. The 24-hour low was $0.2238. Total volume amounted to 1.95 million, while notional turnover was approximately $476,000.

The price action was characterized by a sharp breakdown from recent resistance levels, forming a bearish continuation pattern in the late ET hours. The 20-period and 50-period moving averages on the 15-minute chart remained bearishly aligned, with the 50-period line crossing below the 20-period line, indicating a bearish trend confirmation. On the daily timeframe, the 50-period, 100-period, and 200-period moving averages all pointed downward.

MACD showed bearish divergence with price, as both the MACD line and histogram turned negative and widened as the price accelerated lower. RSI remained below 30 for most of the session, signaling oversold conditions, though a rebound may not necessarily indicate a reversal given the strong downward momentum. Bollinger Bands showed a significant contraction in the early part of the session, followed by a sharp expansion in the afternoon and evening ET hours, highlighting increasing volatility and bearish bias.

Key support levels were identified at $0.2286, $0.2275, and $0.2256, with the latter acting as a critical psychological and Fibonacci 61.8% level of the recent $0.2238–$0.2393 swing. A break below $0.2256 could expose further support at $0.2240 and $0.2238. Resistance remains weak at $0.2310–$0.2320.

Looking ahead, Storj/Tether is likely to remain under bearish pressure for the next 24 hours, especially if key support levels hold and volume remains elevated. Traders should remain cautious of further downside risk and avoid overleveraging long positions in a structurally bearish environment.

Backtest Hypothesis
A potential backtesting strategy could involve entering short positions on a close below the 50-period moving average with a stop loss above the recent swing high. A take-profit target might be set at the next key Fibonacci level (38.2% or 61.8%). Given today’s price behavior, the strategy appears to align with the observed bearish momentum and volume confirmation. However, backtesting should also assess the frequency of false breakouts and whipsaws in low-volume or range-bound conditions, especially after a large sell-off.