24 September 2023 : In this article we will walk you through Storj price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Storj, Is STORJ a good investment? Storj support & resistance levels etc. But before diving deep into the STORJ technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,054,391,492,591. The total trading volume stands at $14,627,423,188. Bitcoin shares 49.16 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $26,589.51 level after an upward movement of 0.04%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -0.04 percent reaching to $1,593.05 during the previous 24 hours.
While publishing this blog, BNB traded at $210.80, following a price change of -0.03%within the same time frame. XRP the native coin of XRP is down by -0.31 and currently trading at $0.51. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Storj (STORJ)
|STORJ Resistance Levels||STORJ Support Levels|
|Resistance Level 1||$0.44||Support Level 1||$0.38|
|Resistance Level 2||$0.46||Support Level 2||$0.35|
|Resistance Level 3||$0.49||Support Level 3||$0.33|
The current Storj price is $0.41, with a trading volume of $22,871,724.00 in the past 24-hours. Currently, STORJ is down by -5.25% since yesterday with a market capitalization of $171,086,535.00 USD.
STORJ price analysis for 24 September 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Storj.
|Simple Moving Average (10)||0.42||Sell|
|Exponential Moving Average (10)||0.42||Sell|
|Simple Moving Average (20)||0.44||Sell|
|Exponential Moving Average (20)||0.44||Sell|
|Simple Moving Average (50)||0.48||Sell|
|Exponential Moving Average (50)||0.48||Sell|
The relative Strength Index (RSI) indicates that the STORJ coin is near oversold zone, as RSI is at 35. In accordance with the conventional pivot, the crucial immediate resistance for STORJ may be found at $0.44, followed by $0.46. In the meantime, the cryptocurrency's support levels were located at $0.38 and then $0.35. The STORJ/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. While STORJ’s Williams %R indicator is at -66.013 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.
The value of STORJ is continuously dumping but it is expected that support levels at $0.38 and $0.35 will act as crucial points and bounce the trend line in the bullish zone