Storj (STORJUSD) Ready to Smash Through the $0.5 Price Level
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Storj bulls are aggressive. The market has generally been bullish since the start of the new year. After effortlessly breaking through the $0.3 price level, the bull market faced a bit of a setback at the $0.4 price level towards the end of January. But since the first day of February, after the bull market took the key resistance, the price has continued to pump. Once again, it is likely that the bulls will have another struggle at the $0.5 price, but looking at the previous performance of the market, the bulls still have the chance of pushing the price upward.
STORJ/USD Price Statistic
- STORJ/USD price now: $0.49
- STORJ/USD market cap: $194,550,760
- STORJ/USD circulating supply: 412,937,122 STORJ
- STORJ/USD total supply: 412,937,122
- STORJ/USD coin market cap rank: #161
Key Levels
- Resistance: $0.5, $0.55, $0.6
- Support: $0.4, $0.35, $0.3
Price Prediction: The Market from the Perspective of The Indicators
According to the Bollinger bands indicator, the Storj price channel portrays an up-trending market. However, the standard deviation curve below the moving average is a bit divergent. With the diverging bands, it is clear that the market is experiencing a strong bullish trend. Under favorable conditions, this trend is very likely to continue. The bears, however, are still formidable, but they are not as strong as the bulls. The bears are being dragged along to the upside as the market now enters the overbought region.
STORJ/USD 4-Hour Chart Outlook
In the 4-hour timeframe, the RSI line retraced a lower level from the overbought region. The bearish pressure from above the $0.5 price level coupled with the expected market behavior of prices in the overbought region contributed to this temporary price dive. Storj‘s price may be held down at around this key resistance level as bears will yet have a balanced struggle with the bulls again, after which the uptrend will continue.
