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Summary
• Price declined 6.3% from 0.1184 to 0.1152 over 24 hours with key support tested at 0.1150.
• Momentum weakened, with RSI below 30 and MACD showing bearish divergence.
• Volatility remained low, with price trading within a tight range until a sharp selloff began after 19:00 ET.
• Volume spiked during the selloff, confirming bearish pressure.
Storj/Tether (STORJUSDT) opened at 0.1184, reached a high of 0.1187, a low of 0.1127, and closed at 0.1131 by 12:00 ET. Total volume was 1,023,980 and turnover was approximately $116,300 over the period.
Structure & Formations
Price declined sharply from 0.1187 to 0.1127 after forming a bearish engulfing pattern at 19:00 ET, followed by a long bearish shadow at 0.1127–0.1131. Key support levels at 0.1150 and 0.1140 were tested during the consolidation phase.
Moving Averages
On the 5-minute chart, price closed below both the 20EMA and 50EMA, reinforcing bearish bias. On the daily chart, the 50DMA is slightly above 0.1160, indicating short-term bearish momentum.
MACD & RSI
The RSI dipped to 28 near 0.1130, suggesting oversold conditions, while the MACD histogram showed bearish divergence as the sell-off continued.
Bollinger Bands
Volatility remained narrow until the sharp drop, with price moving below the lower band at 0.1130–0.1127, indicating a potential bounce or continuation.
Volume & Turnover
Volume spiked during the selloff, particularly around the 19:00–20:00 ET timeframe, with a large candle recording 87,968 volume at 0.1165–0.1166.
Fibonacci Retracements
From the 0.1187 high to the 0.1127 low, the 61.8% retracement level is at 0.1144, where price found some temporary support.
Looking ahead, buyers may test the 0.1144 level for a potential rebound, but further weakness could target 0.1130–0.1120. Investors should remain cautious as the short-term bias remains bearish.
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