Storj/Tether (STORJUSDT) Market Overview for 2025-09-22

• Price action showed a sharp intraday drop from 0.252 to 0.2306 before stabilizing.
• Momentum reversed during the early ET hours, with bullish pressure reemerging after 08:00 ET.
• Volatility spiked during the 06:15 ET candle, signaling significant intraday selling pressure.
• Bollinger Bands widened during the selloff, indicating a period of high volatility.
• Volume surged at the bottom of the move, potentially signaling accumulation.

Storj/Tether (STORJUSDT) opened at 0.2511 on 2025-09-21 at 12:00 ET, reached a high of 0.252, dipped to a low of 0.21 during the sharp selloff, and closed at 0.2308 at 12:00 ET on 2025-09-22. Total 24-hour trading volume was 2,210,286.30, while notional turnover was approximately $538,358.80.

Structure & Formations

Price carved a bearish engulfing pattern during the 06:15 ET candle as it gapped down from 0.2401 to 0.2331. A double bottom formation emerged near 0.2306–0.2308 following the selloff, with a possible support cluster forming at 0.2308–0.2311. A bullish harami was observed at 08:30 ET (0.2336/0.2332), indicating a potential reversal after the 06:15 sell-off. The 0.2320 level appears to be a key psychological level that price has struggled to hold above.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs showed a bearish crossover during the selloff, but price has since crossed above the 20-period line, indicating potential short-term bullish momentum. On the daily chart, the 50-period SMA is currently around 0.2340, while the 200-period SMA is near 0.2530, reinforcing the bearish trend and suggesting STORJUSDT is in a strong downtrend from a longer-term perspective.

MACD & RSI

The MACD line crossed below the signal line during the selloff and remained negative until late ET hours. However, a positive crossover occurred around 08:00 ET, suggesting renewed bullish momentum. RSI briefly hit oversold territory at 26.8 during the 06:15 ET candle, signaling potential for a short-term bounce. It has since recovered to the 49.2 level, still indicating a neutral to mildly bullish bias.

Bollinger Bands

Bollinger Bands expanded significantly during the 06:15 ET candle as price fell to 0.21, the lowest level of the 24-hour period. Price remained below the lower band during this time, indicating strong bearish pressure. Since 08:00 ET, price has moved back into the mid-band range, suggesting volatility has contracted and the move lower may be nearing a short-term pause.

Volume & Turnover

Volume surged during the 06:15 ET candle at 1,029,086.00, representing the largest single candle volume of the day. This coincided with the lowest price of 0.21, suggesting potential accumulation. Notional turnover also spiked during this period. However, the price did not close higher, indicating mixed participation. The volume during the subsequent bullish bounce was relatively modest, suggesting a cautious buyer response.

Fibonacci Retracements

The key 15-minute swing from 0.252 (18:00 ET 09-21) to 0.21 (06:15 ET 09-22) shows that the 38.2% retracement level is at 0.2337 and the 61.8% level at 0.2276. Price briefly tested the 38.2% retracement before bouncing back above 0.232. The daily chart Fibonacci from the 0.2530 high to 0.2100 low shows 0.2335 as a key support/resistance level, reinforcing the importance of the 0.232–0.2330 cluster.

Backtest Hypothesis

Given the bearish engulfing pattern and the subsequent volume spike at 0.21, a backtest strategy could be built around identifying similar patterns at key Fibonacci levels. Traders could enter long positions on a bullish reversal candle (e.g., a bullish engulfing or harami) above 0.232 with a stop just below 0.2305 and a target at 0.234–0.236. This aligns with the MACD and RSI signals of potential short-term bullish momentum and could be optimized using 15-minute and daily Fibonacci retracements for entry and exit timing.