Storj Price Analysis: Will STORJ Retest $0.48 Level?


  • STORJ/USD trades near $0.45.
  • The current trading volume of Storj is at $17,823,184.00.
  • In terms of STORJ support floor, it is now $0.43.
  • STORJ faces resistance at $0.48.

03 October 2022 : 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.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $936,642,515,083. The total trading volume stands at $53,583,320,840. Bitcoin shares 39.69 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,389.79 level after an upward movement of 0.96%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.54 percent reaching to $1,317.86 during the previous 24 hours.
While publishing this blog, BNB traded at $287.12, following a price change of 1.38% within the same time frame. XRP the native coin of XRP is down by -1.87 and currently trading at $0.45. Additionally, Cardano reached $0.42 after seeing a decline of -0.04% 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.

Storj Support and Resistance

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 $0.48 Support Level 1 $0.43
Resistance Level 2 $0.51 Support Level 2 $0.41
Resistance Level 3 $0.53 Support Level 3 $0.38

Storj Performance

The price of Storj (STORJ) is at $0.45, up 2.1% in the past 24-hours and has a price change of -0.88% over the week. One day trading volume for BTC is 17,823,184.00 USD while total marketcap reached $187,609,579.00 USD. There are almost 412,937,122 are in circulation out of 424999998.

Storj Price Analysis

STORJ price analysis for 03 October 2022 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.

Moving Averages Price Indicator
Simple Moving Average (10) 0.46 Sell
Exponential Moving Average (10) 0.46 Sell
Simple Moving Average (20) 0.47 Sell
Exponential Moving Average (20) 0.47 Sell
Simple Moving Average (50) 0.54 Sell
Exponential Moving Average (50) 0.53 Sell

The Relative strength index (RSI) for STORJ Coin is currently hovering at 41 for 14-days average line, which means STORJ is in consolidation zone right now. In accordance with the conventional pivot, the crucial immediate resistance for STORJ may be found at $0.48, followed by $0.51. In the meantime, the cryptocurrency's support levels were located at $0.43 and then $0.41. The MACD line is standing above of the signal line after a positive crossover. Storj investors need to wait for any directional change over the daily chart. While STORJ’s Williams %R indicator is at -76.697 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

STORJ price is moving in sideways direction. The battle between the bulls and the bears can result in moving the coin price in either direction. However, The investors are waiting for Storj to make a one directional move to make a good entry in the market.