- The Storj coin is trading at $0.2896.
- The coin price was up by 5.90% in the last 24 hours.
- The STORJ coin price has been trading with a volume of $198,499,329 in the last 24 hours.
Storj (STORJUSDT) Coin: Technical Analysis
In February 2023, the Storj coin price started to face rejection after reaching $0.5279 and started to fall. The price fell to $0.2866 and formed support above it. After forming a base at $0.2866, a bullish rally was initiated and the price went up to $0.4384 and faced rejection from the trendline.
After facing rejection from the trendline, the price fell to the $0.2866 support level. In June 2023, the price tried to give a breakdown of the $0.2866 support but it faced rejection and reclaimed the support. However, the price couldn’t sustain above the support level and the sellers made the price fall to $0.2188.
After falling to $0.2188, the price formed support over there and commenced a bullish rally. The price went up and made the 2023 year-high of $0.6098. As soon as the price made the year-high, it started to fall and fell back to its $0.2188 support. The price commenced a bullish rally from there and faced rejection from $0.3270.
Currently, the price has faced rejection from $0.3270 and is trading inside a range of $0.3270 to $0.2188. If the price gives a breakout of $0.3270 then it may rise to $0.5100. However, if the price breaks below $0.2188, then it may fall to $0.1500. Otherwise, the price could be seen trading inside this range for a while.
Technical Indicators’ Prediction About the Current Trend
The Storj coin price is trading between the 50 and 200 EMAs, which indicates that the price is being pressurized by both sellers and buyers.
The relative strength index (RSI) is at 70.17. The RSI is in the overbought territory, indicating that the price could perform a short-term pullback.
The long/short ratio of SFP shows that the short positions and long positions are almost equally placed in the last 24 hours, in which long positions make up 50.91% and short positions make up 49.09%.
Conclusion
The Storj coin price is witnessing neutral sentiment as the price is trading inside a range of $0.3270 to $0.2188. If the price gives a breakout of $0.3270 then it may rise to $0.5100. However, if the price breaks below $0.2188 then it may fall to $0.1500. Otherwise, the price could be seen trading inside this range for some time.
Technical levels
Resistance levels: $03270 and $0.5100.
Support levels: $0.2188 and $0.1500.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.