Market Overview for Storj/Tether (STORJUSDT)

• Storj/Tether (STORJUSDT) traded in a narrow range for most of the day before breaking out above key resistance near $0.1720 in the afternoon session.

• Volume surged in the final 3 hours of the session, particularly in the 1300–1600 ET window, as price rallied to a 24-hour high.

• RSI climbed into overbought territory near 68–70 as the final rally accelerated, suggesting short-term exhaustion or a potential pullback.

• Bollinger Bands showed a moderate contraction before the breakout, with price now testing the upper band, indicating rising volatility.

• The 24-hour range extended from $0.1636 to $0.1744, a 6.6% swing, with the session closing near the upper end of the range at $0.1720.

Storj/Tether (STORJUSDT) opened at $0.1670 on 2025-11-01 and closed at $0.1720 by 12:00 ET, with a high of $0.1744 and a low of $0.1636. Total volume reached 1.32 million units, with notional turnover amounting to $224,578. The pair exhibited a strong bullish reversal in the latter half of the day, with volume confirming the breakout above key resistance levels.

The 15-minute chart showed a prolonged consolidation phase from $0.1665 to $0.1685 before the breakout began around 14:00 ET. A large bullish engulfing candle formed around 13:15 ET as the price moved above $0.1720, confirming the shift in sentiment. The 20-period EMA (exponential moving average) crossed above the 50-period EMA during the session, forming a “golden cross” in the short term and reinforcing the bullish bias.

On the MACD, the histogram turned positive in the final 2 hours of the session, with a clear divergence between the RSI and price during the consolidation phase—RSI bottomed earlier than price, suggesting a potential reversal. RSI climbed into overbought territory (68–70) during the final 15-minute candles, a sign that the rally could be nearing a short-term peak or that volatility is about to normalize.

Bollinger Bands showed a moderate contraction during the morning and early afternoon, followed by a sharp expansion as the breakout unfolded. Price remained within the bands for most of the session but briefly exceeded the upper band in the last hour, indicating a surge in volatility. The 61.8% Fibonacci retracement level from the $0.1636 low to the $0.1744 high is now at $0.1703, a potential zone for short-term consolidation.

The 50-period and 200-period moving averages (daily) remained well below the current price, suggesting a strong bullish bias over the medium term. However, the recent rally appears to be driven more by short-term momentum than long-term structural shifts. The price is currently testing the 20-day high of $0.1735, with a potential next target at $0.1744 if buyers continue to step in. A retest of the 61.8% Fibonacci level at $0.1703 may be expected in the next 24–48 hours, with the potential for a bullish continuation if support holds.

Backtest Hypothesis

The proposed backtest strategy hinges on combining RSI overbought conditions and bullish engulfing patterns to trigger long entries. Given the recent 24-hour behavior of STORJUSDT, both signals were active in the final hours, particularly around 13:15–14:00 ET. To model the “next resistance level” as an exit, we could adopt the 20-day high approach, as it aligns with the prior consolidation pattern and provides a dynamic, price-based threshold. A fixed 10% take-profit above entry could be used as an alternative exit, but the 20-day high approach is more responsive to real-time price structure. A maximum holding period of 5 days could be added as a risk control, with a stop-loss of 5% below the entry to manage downside. This would create a rules-based system that could be tested from 2022-01-01 to 2025-11-01 to assess its viability across multiple market conditions.