Storj (STORJUSD) Is Trending; The Market Is Within the Reach of $0.5
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The $0.45 price level became a major resistance level after the Storj’s bull market was rejected at the resistance level on February 8. Then a very significant bearish move brought the price down to the $0.38 price level. At this level, the bullish support absorbed the pressure from the supply zone, allowing the continuation of the up-trending market. The bulls also gathered momentum over the week and charged back at the resistance price level with a very strong force. The bullish price finally broke through the resistance in today’s trading session.
STORJ/USD Price Statistic
- STORJ/USD price now: $0.49
- STORJ/USD market cap: $202,443,228
- STORJ/USD circulating supply: 412,937,122 STORJ
- STORJ/USD total supply: 424,999,998
- STORJ/USD coin market cap rank: #167
Key Levels
- Resistance: $0.50, $0.55, $0.60
- Support: $0.40, $0.35, $0.30
Price Prediction for Storj: The Indicators’ Point of View
The up-trending market resumes after the brief price retracement. The bear market on February 9 was strong enough to trigger a reversal in trend, but because the force behind the bull market is stronger, the bulls were able to quickly regain their place in the market. The Bollinger Bands indicator illustrates the continuation of the trend as the price channels take up a movement in the upward direction. In the Relative Strength Index (RSI), the momentum is becoming stronger as the measurement approaches the overbought zone.
STORJ/USD 4-Hour Chart Outlook: The Trending Market
From the 4-hour point of view, we discovered that the bears are responding to the bullish price which has reached the $0.5 price level. The sellers have pushed the price to $0.49, and the appearance of a doji candlestick pattern in the latest 4-hour session suggests a weakening of bearish activities. The up-trending market is likely to continue after the bull market captures the $0.5 price level.
