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- 1 Storj is currently trading at $0.347583 with an advance of 29.08% in price
- 2 Storj price has been rising consecutively over the week.
- 3 There is a higher number of short liquidations in Storj as compared to long liquidations.
Storj is giving hardship to sellers as there has been a consecutive rise in price over the last two weeks. Among the 30 assets in the Computing sector, Storj represents 1.14% of the Marketcap. This rise can be a trap for buyers and the Storj may again tumble down and result in disappointment for buyers. But as of now, the buyers seem to be more aggressive as compared to sellers.
Storj’s current trading volume is $240.44 Million with an open interest of $26.78 Million. This volume resulted in an advance of 29.08% in the last 24 hours and the price has advanced 28.87% in one week. The long/short ratio for the Storj in the last 24 hours is 1.0379 which represents positivity in the Storj price.
Storj Coin Technical Analysis
As illustrated in the above daily chart after consolidation for a long time, the price of STORJ coin recently gave a breakout with a huge green candle. Storj is trading above the 50-day EMA and 200-Day Exponential moving average. The price broke both EMAs recently. However, If the bears want to make a comeback, they will have to sink and sustain the price below the 200-day EMA.
The RSI looks bullish in the daily timeframe as the RSI moves upwards from the oversold zone to overbought zone and is currently at the 74.59 level.
The MACD indicator is also heading to a positive area pointing toward the incline of price. The MACD line at -0.009274 and signal line at -0.002017 is beneath the zero line.
The market structure of Storj seems indecisive about this rise as the market has not yet made any proper higher-high structure and is rising parabolically. So, in order to rise to further higher levels, it will have to retrace and then continue the momentum.
Technical Levels
- Support Level – The current support level is 0.214.
- Resistance Level –The current resistance level is 0.358.
Conclusion
The Investors’ sentiments regarding Storj crypto price are taking a positive turn. However; when we Look at the chart of Storj we can see that the market is currently showing bullish momentum. Storj’s price is seeing a sudden surge in its value and the main question on every investor’s mind is: Will the rally continue? This rise can be a trap for buyers and the Storj may again drop down and result in disappointment for buyers.
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
