Market Overview for Storj/Tether (STORJUSDT) on 2025-10-28

• Price declined over 24 hours from $0.1806 to $0.1793, with bearish momentum picking up after 22:00 ET.
• Key resistance at $0.1810 and support at $0.1790 showed mixed price reactions.
• Volume increased significantly during the drop, particularly in the 22:00–05:00 ET window.
• RSI reached oversold territory by 05:30 ET, suggesting potential for a short-term rebound.
• MACD crossed into negative territory with a bearish divergence forming in late trading hours.

24-Hour Price Action and Volatility

Storj/Tether (STORJUSDT) opened at $0.1806 on 2025-10-27 at 12:00 ET and traded as high as $0.1840 during the session, reaching a 24-hour peak at 17:15 ET. The pair then experienced a steady pullback, with the price declining to a low of $0.1772 at 22:45 ET before recovering slightly to close at $0.1793 on 12:00 ET-1. Over the 24-hour period, the total traded volume amounted to 1,583,129.0 units, with a notional turnover of $285,334.97, based on weighted averages of the OHLC data.

Structure and Candlestick Patterns

The price action showed a bearish continuation with multiple engulfing patterns observed in the 15-minute time frame, especially after the initial breakout above $0.1830. A significant Bearish Engulfing pattern formed at 22:15 ET, followed by a Bearish Harami at 00:30 ET, signaling a shift in momentum from bullish to bearish. Additionally, the market displayed long lower shadows in the 00:00–04:00 ET window, suggesting limited bearish conviction during the low-volume hours. A Gravestone Doji at 05:45 ET marked a potential turning point in the trend, as buyers attempted to push the price back toward the 24-hour high.

Moving Averages and Volatility Indicators

On the 15-minute chart, the 20-period and 50-period moving averages are both in a bearish alignment, with the 20SMA below the 50SMA. The 50SMA currently sits around $0.1805, which has served as a key resistance-turned-support level during the pullback. On the daily time frame, the 50-day and 200-day SMAs are not immediately relevant due to the short time window, but the 100-day SMA appears to be a critical level that could determine the next directional bias.

Bollinger Bands have widened in the 00:00–05:00 ET window, reflecting increased volatility during the overnight session. Price briefly tested the lower band at 22:45 ET and bounced back toward the midline, suggesting a potential bottoming process in formation. However, the upper band has acted as a dynamic resistance, with multiple tests failing to close above it after 17:15 ET.

Momentum and Overbought/Oversold Conditions

Relative Strength Index (RSI) has been in the oversold territory since 04:00 ET, reaching as low as 28.5 at 05:30 ET. While this could indicate a potential bounce, a bearish divergence is forming between price and RSI as the price continues to decline despite RSI failing to make new lows. MACD has been in negative territory for the last 12 hours, with the histogram showing a bearish expansion after 21:00 ET. The signal line crossed below the MACD line, confirming a bearish momentum shift that may continue in the next 24 hours.

Moving Average Convergence Divergence (MACD) and RSI together point to a continuation of the current bearish momentum, though signs of short-term oversold conditions may attract some buying interest. The key to the next phase will be whether price can break back above $0.1810 to reestablish bullish control or if sellers reinforce the short-term bearish bias.

Volume and Turnover Analysis

Volume surged during the decline, especially between 22:00–04:00 ET, with a peak of 157,592 units at 22:15 ET. This volume spike coincided with a drop to $0.1793, suggesting a significant amount of conviction in the bearish move. In contrast, the volume during the earlier bullish phase (17:15–20:15 ET) was relatively moderate, indicating a lack of strong buyer participation despite the price rally.

Notional turnover followed a similar pattern, reaching a high of $29,476.33 at 06:45 ET during the rally off the lower band. This suggests that while buyers did show up in volume, they were unable to sustain the momentum. A volume divergence between the 17:00–22:00 ET bullish and bearish phases highlights the weakening trend, with sellers taking control as buyers failed to respond with equal strength.

Fibonacci Retracements

On a 15-minute basis, the most recent $0.1840–$0.1772 swing has seen the price test key Fibonacci levels multiple times. The 61.8% retracement level (~$0.1803) acted as a minor resistance during the bounce, while the 38.2% retracement (~$0.1796) has been tested twice since 06:00 ET. On a daily swing from a previous high to a recent low, the 50% retracement level (~$0.1811) has become a psychological support area, with the current price hovering just below it. A close above $0.1810 could see the price test the 61.8% level (~$0.1824) on a rebound.

Backtest Hypothesis

The market action observed over the last 24 hours supports the hypothesis of a bearish continuation, with multiple candlestick patterns and momentum indicators confirming a weakening trend. A Bullish Engulfing pattern is expected to appear on the daily chart and would trigger an entry signal for a long position. Once entered, the strategy would hold until one of the pre-defined exit rules is met. Given the recent pullback and oversold RSI, Option C – closing 8% below the entry price could be a suitable exit rule, balancing risk and reward.

Alternatively, Option A – closing below the 20SMA (~$0.1805) provides an objective stop-loss mechanism that aligns with current price structure. A back-test using the 20SMA exit rule may prove more conservative, limiting losses if the trend continues lower, while the 8% fixed loss exit could lead to earlier exits in a volatile market like STORJ. The strategy assumes no additional risk controls beyond the exit rule, which aligns with the observed market behavior but may require a stop-loss addition if used in live trading.