STORJ/USDT Bulls Make Continuous Progress

As of the time of writing, the STORJ/USDT market has pushed higher, with its price increasing by an additional 2.29%. This gain was enough to place the token among the top-performing cryptocurrencies. Let’s take a closer look at the market in more detail below.

STORJ Statistics

Storj Current Price: $0.3111

Market Capitalization: $125.97M

Circulating Supply: 402.21M

Total Supply: 424.99M

CoinMarketCap Rank: 295

Key Price Levels

Resistance: $0.3500, $0.4000, $0.4500

Support: $0.3000, $0.2500, $0.2000

STORJ/USDT Minimal Gain Is Impactful

In the Storj daily market, price action appears to have successfully established a new support level. Although the last price candle is small, its green appearance and its current position suggest an optimistic outlook. The ongoing session is finding support at the $0.3000 price level.

As a result, this market appears to be on its way to retesting the 50-day Moving Average (MA) line as a resistance level. Meanwhile, the Stochastic Relative Strength Index (RSI) indicator lines continue to trend upward after forming a bullish crossover above the 80 mark. Technically, this suggests that bullish momentum remains dominant despite the overbought condition.

Storj Set to Keep Moving North

The STORJ/USDT 4-hour market indicates that bullish forces are likely to maintain control. Consequently, this could drive the market further upward, potentially breaking through the current resistance at the 200-day MA curve. The most recent price candle on the chart is red, which has appeared due to a previous resistance test in the last session.

Nevertheless, price action remains above most of the MA lines and continues to challenge the barrier formed by the 200-day MA.

Additionally, the Stochastic RSI lines just delivered a bullish crossover above the 50 mark. This suggests that price action may approach the $0.3500 threshold.

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