STORJUSDT Fights Back to Resist Headwinds, Gaining by 7.62%

STORJUSDT’s price action reached its peak at the $0.9000 mark six sessions ago. Subsequently, headwinds were triggered, leading to a steep downward correction until the previous session. However, the ongoing session shows an intention to break the downward correction and resume price action on its upward path.

Key Storj Statistics:
Current STORJ Value: $0.7056
Storj Market Cap: $272,504,875
Circulating Supply of STORJ: 381,286,005
Total Supply of Storj: 424,999,998
STORJ CoinMarketCap Ranking: 143

Key Price Levels:
Resistance: $0.7056, $0.7100, and $0.7200
Support: $0.7000, $0.6900, and $0.6800

Storj Appears to Prepare for a Rebound Towards Higher Price Marks

The STORJUSDT market, as mentioned earlier, bounced off a support level above the $0.6500 price level. With a 7.62% price increase, the token now trades above the $0.7000 price level. Trading activities continue to occur above the middle band of the Bollinger Bands indicator.

Consequently, this suggests that tailwinds might still be at an advantage in this market, and the upside correction may extend. Meanwhile, the Relative Strength Index (RSI) indicator lines have reached deep into the oversold region during the period of price downward correction. However, the leading line of this indicator seems to have started attempting a bullish crossover, reflecting the profits recorded in the ongoing session.

STORJUSDT Bulls Find Footing Above a Significant Support Level

Buyers appear to be gaining momentum as another session begins above the middle band of the Bollinger Band indicator in the STORJUSDT 4-hour market. The price candle representing the ongoing session has brought Storj to now trade at $0.7061, above the Bollinger Band’s middle limit. Similarly, the RSI indicator lines are racing towards the overbought region.

A significant gap between the leading and lagging lines of this indicator suggests that volatility is building up in this market. Therefore, traders can target an extension of the upside correction towards the $0.8000 mark.

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