Market Overview: Storj/Tether (STORJUSDT) 24-Hour Technical Breakdown

• STORJ/USDT traded in a 24-hour range of 0.1753–0.1824, closing 0.1776 after opening at 0.1785.
• A sharp bearish reversal unfolded in the 19:30–20:00 ET window, triggering a 0.57% price drop.
• Volatility spiked mid-night with a 3.7% 15-min high-low swing, followed by consolidation.
• Volume surged 28x in the 04:45–05:00 ET candle, signaling a key turning point in sentiment.
• RSI and MACD divergence suggests potential for a pullback after recent bullish momentum.

Price Action and Volatility

The Storj/Tether pair (STORJUSDT) opened at 0.1785 on 2025-10-23 at 12:00 ET and closed at 0.1776 the following day at the same hour. The price reached a high of 0.1824 and a low of 0.1753 during the 24-hour period. Total volume traded amounted to approximately 7.44 million contracts, with a total turnover of roughly $1.35 million. The pair exhibited moderate volatility for most of the day, with a significant expansion occurring between 00:45 and 01:00 ET when price swung from 0.1771 to 0.1815.

Structure & Formations

Key support levels emerged at 0.1766 and 0.1753, both of which held during a critical sell-off in the 23:00–00:00 ET period. A potential engulfing bearish pattern formed around 19:45–20:00 ET as price closed near the session low. A doji appeared in the 04:45–05:00 ET candle, indicating indecision after a bullish push. The price then consolidated for the remainder of the session, suggesting short-term equilibrium after the sharp move up and down earlier in the day.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages crossed multiple times, showing a volatile but mostly bullish bias in the early morning. By the end of the session, the 50-period line had crossed above the 20-period line, suggesting a weakening short-term bullish trend. The RSI approached overbought territory during the 04:45–05:00 ET spike but fell below 50 by mid-morning, signaling a bearish shift. MACD showed a narrowing histogram and a flattening line, indicating fading momentum in the bullish move.

Bollinger Bands and Fibonacci Levels

Price briefly touched the upper Bollinger Band during the 00:45–01:00 ET high-volume candle, indicating a sharp volatility expansion. Afterward, the price retracted to the middle band before settling near the lower band, suggesting a potential oversold condition by the end of the day. On the Fibonacci retracement scale, the price tested the 61.8% level of the 0.1753–0.1824 swing at approximately 0.1779, where it found temporary support before breaking down further.

Volume and Turnover Insights

Volume was relatively flat for much of the session before spiking in the 04:45–05:00 ET candle, where a large 0.94% price increase coincided with a massive 990,120 contract volume trade—28 times the average. This was followed by a consolidation phase with lower volume, indicating a temporary pause in aggressive trading. Notional turnover mirrored volume patterns closely, validating the price action during the mid-night spike. A divergence appears after 04:45 ET, where volume declines while the price continues to retrace, suggesting weakening conviction in the move.

Backtest Hypothesis

Given the lack of pre-catalogued Morning-Star pattern indicators for STORJUSDT, the proposed backtest strategy offers two viable paths forward. One option is to manually detect Morning-Star patterns using the available 15-minute OHLCV data. The other is to provide a list of Morning-Star occurrences in yyyyMMdd format for automation. Integrating this into the backtest will allow us to evaluate the effectiveness of the pattern as a buy signal on this volatile, low-cap pair. Given today’s consolidation and the doji near 0.1800, a valid Morning-Star signal could provide clarity on potential bullish entries.