Storj Market (STORJ/USD) Shatters Bearish Resistance, Nearing the $1.00 Milestone
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In the most recent analysis of the Storj market conducted on December 12, it was observed that the price retraced to the midrange, indicating equilibrium. Despite the market maintaining a horizontal movement along the $0.76 price level, the hammer candlestick formed on December 11 suggested a gathering momentum among bulls. This is currently evident in the chart as the bull market approaches the $1.00 price threshold.
Storj Market Data
- STORJ/USD Price Now: $0.95
- STORJ/USD Market Cap: $244,012,933
- STORJ/USD Circulating Supply: 385,567,933 STORJ
- STORJ/USD Total Supply: 424,999,998 STORJ
- STORJ/USD CoinMarketCap Ranking: #142
Key Levels
- Resistance: $1.00, $1.50, and $2.00.
- Support: $0.60, $0.55, and $0.50.
The Storj Market Price Forecast: Analyzing the Indicators
The emergence of three prominent bullish candlesticks on the chart signals a strong presence of bullish activities and dominance in the market. Additionally, the considerable volume of trade histograms, reflecting trading activities, adds conviction that the bulls are poised to secure the $1.00 price level. Amid the ongoing bullish momentum in the Storj market, the Bollinger Bands Indicator shows divergence in its bands, with the upper band exhibiting more significant divergence than the lower band, indicating prevalent bullish activities. While volatility increases within the bullish section of the market, it is worth noting that the resistance at the $1.00 price level may prove substantial.
STORJ/USD 4-Hour Chart Outlook
The upper bands of the Bollinger Bands persist in aligning with the upward price movement, nearing the crucial $1.00 price threshold. In contrast, the lower standard deviation curve appears largely unaffected by these market developments, indicating a shortage of bearish sentiment. Nevertheless, as the market approaches the critical $1.00 price level during today’s 4-hour sessions, candlesticks are exhibiting upper shadows—a potential sign of emerging bearish sentiment around $1.00. Despite the resistance at the $1.00 price mark, the bulls continue to secure higher price levels.
