The Storj Market (STORJ/USD) Begins Another Bullish Cycle
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After breaking the year’s key support level at the $0.2464 price level, the bearish price fell slightly below the support and reached $0.216, finding another bullish support here. The Storj market was back at $0.2464 in today’s market, trying to reclaim it, which was formally the support level. With the hyper-bearish move that the market saw on June 9, it was anticipated that bulls would respond to it. But instead, they struggle below the $0.2464 price level.
The ongoing crisis in the crypto sector may be a contributing factor, as bulls show signs of exhaustion while a responsive hyper-bullish move was expected. Bulls were expected to take advantage of the high level of volatility in the market, but they seem too weak for this.
The Storj Market Data
- STORJ/USD Price Now: $0.2392
- STORJ/USD Market Cap: $95,689,256
- STORJ/USD Circulating Supply: 401,584,306 STORJ
- STORJ/USD Total Supply: 424,999,998
- STORJ/USD CoinMarketCap Ranking: #184
Key Levels
- Resistance: $0.500, $0.800, and $1.00
- Support: $0.200, $0.100, and $0.090.
Price Prediction for the Storj Market: The Indicators’ Point of View
According to the Relative Strength Index (RSI), the hyper-bearish bear market brought the market near the threshold of the oversold zone. As expected, bulls the Storj market respond to this hyper-bearish move, but they lack sufficient follow-through, which is why they could not go beyond the $0.2464 resistance price level, which was formally the support for the market. But according to the Bollinger Bands indicator, market volatility is still high; therefore, bulls still have a chance.
STORJ/USD 4-Hour Chart Outlook
We are able to see how bulls were dealing with the resistance level in the 4-hour time frame. There is an appearance of higher lows on the chart, even though the resistance, for now, remains unchanged. The appearance of higher lows will put pressure on the resistance level, and it will eventually give way. The appearance of higher lows suggests that bulls are gaining strength to push the market through.
