STORJUSDT Market Overview for 2025-09-19

• Price drifted lower, closing 1.2% below 24-hour highs amid bearish divergence in volume and momentum.
• Volatility expanded during overnight trading, with a high of $0.2671 before retracing sharply.
• Key support at $0.259–0.260 tested and held, but further breakdown could trigger $0.256–0.257 levels.
• RSI showed overbought conditions mid-cycle but reversed into oversold territory, suggesting exhaustion.
• Bollinger Bands widened during the sell-off, signaling increased uncertainty and potential for a bounce.

24-Hour Summary

Storj/Tether (STORJUSDT) opened at $0.2611 on 2025-09-18 at 12:00 ET and traded as high as $0.2671 before closing at $0.2572 at 12:00 ET on 2025-09-19. Total volume over 24 hours was 3,326,855.35 STORJ, with a notional turnover of $849,278.13.

Structure & Formations

The candlestick chart displayed a bearish trend marked by several large bearish bodies and a notable bearish engulfing pattern around 01:30–01:45 ET, confirming a shift in momentum. A doji appeared around 04:45 ET, indicating indecision. Key support levels emerged around $0.259 and $0.260, which held during the morning sell-off. Resistance at $0.264–0.265 remained intact but failed to hold against intraday pressure.

Moving Averages

On the 15-minute chart, the price broke below the 20 and 50-period moving averages, with the 50-period line currently at $0.2585 and the 20-period line at $0.2582. On the daily chart, the 50-period MA is at $0.2624, above the current price, suggesting bearish bias. The 100 and 200-period MAs sit at $0.2618 and $0.2612, respectively, indicating a potential oversold scenario if price breaks below $0.256–0.257.

MACD & RSI

The MACD line crossed below the signal line during the overnight hours, confirming bearish momentum. The histogram has remained negative for most of the session, suggesting prolonged bear pressure. The RSI dropped to 29, indicating oversold conditions, though a rebound may be limited without a strong reversal candle. Divergence between RSI and price during the early morning hours suggests caution for near-term buyers.

Bollinger Bands

Volatility expanded during the early hours of the session, with the Bollinger Bands widening significantly as price moved between $0.2616 and $0.2671. Currently, price is trading near the lower band at $0.257, suggesting a potential bounce could be in play. A sustained break below this band would signal increased bearish momentum and could open the door to further downside.

Volume & Turnover

Volume surged during the early morning sell-off, particularly between 01:00 and 03:30 ET, with notional turnover peaking at $43,800 during the 01:00–01:15 ET period. This was followed by a divergence as volume waned despite continued price declines, hinting at a lack of conviction. Turnover dropped significantly during the afternoon, aligning with range-bound price action and reduced interest.

Fibonacci Retracements

Applying Fibonacci retracements to the $0.2572–0.2671 range, key levels of interest are $0.2632 (38.2%), $0.2612 (50%), and $0.2594 (61.8%). The 38.2% level was briefly tested but failed to hold. A potential bounce could find support at the 61.8% level ($0.2594), though a breakdown below that could extend the move to $0.256–0.257.

Backtest Hypothesis

The proposed backtest strategy involves entering short positions upon a bearish engulfing pattern confirmation, with a stop-loss above the high of the pattern and a target at the 38.2% Fibonacci retracement level. Given the recent bearish engulfing pattern around 01:30–01:45 ET and the current price testing the 61.8% retracement level, this strategy may have been profitable had it been applied. However, the recent doji and narrowing volume suggest market exhaustion, and a reversal could invalidate such a short-biased approach.