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Storjanalysis

#STORJThe Storj currency has moved a full upward cycle, which is currently in the correction cycle of wave 2. This cycle can appear as a three-wave and prepare for an upward movement in the form of wave 3 or C in the specified range after the end of leg C. Therefore, for those who want to enter this currency in the weekly time, the correction of this currency has not been completed yet. Therefore, the possible movement of this currency can be according to the figure that I will update this post in the future after completing the corrective leg.
by alikze
2
STORJUSDT.1DBased on the provided market data, the STORJ/USDT pair is currently trading at $0.89. The RSI (Relative Strength Index) shows readings of 58.92, 68.26, and 65.81 on the 4-hour, daily, and weekly charts respectively. These figures suggest that the asset is neither overbought nor oversold, indicating a balanced market condition. The MACD (Moving Average Convergence Divergence) values for the 4-hour, daily, and weekly charts are 0.020, 0.046, and 0.096 respectively. These positive values suggest a bullish trend. However, it is essential to watch for any signs of MACD line crossing below the signal line, which could indicate a bearish reversal. The Bollinger Bands, with values of 0.91, 0.90, and 0.91 for the 4-hour, daily, and weekly charts, suggest that the cryptocurrency is trading within a relatively normal range and isn't experiencing significant volatility. The current price of STORJ is closer to the 4-hour, daily, and weekly support levels than the resistance levels, indicating that there may be more room for the price to fall before encountering significant support. The first, second, and third support levels for the 4-hour chart are $0.87, $0.76, and $0.69. For the daily chart, they are $0.78, $0.67, and $0.61, and for the weekly chart, they are $0.66, $0.48, and $0.17. On the other hand, the resistance levels for the 4-hour, daily, and weekly charts are $0.93/$0.95/$1.050, $0.95/$1.25/$1.44, and $1.25/$1.66/$2.19 respectively. In conclusion, the STORJ/USDT pair seems to be in a balanced market condition with a slight bullish trend. However, traders should monitor the MACD for any potential bearish reversals and keep an eye on the support and resistance levels for potential price reactions. This is just an analysis based on the provided data and should not be considered as financial advice. Please do your own research before making any investment decisions.
Long
by MarsSignals
STORJUSDT.4HBased on the given market data, the STORJ/USDT pair is currently in a bullish trend, as indicated by the RSI (Relative Strength Index) values for 4h, 1d, and 7d which are above 50. This suggests that the currency is being heavily bought in the market. The MACD (Moving Average Convergence Divergence) values for 4h, 1d, and 7d are positive, indicating upward momentum. The Bollinger Bands for 4h, 1d, and 7d are above the current price, suggesting that the price is in the lower range, which could indicate a potential upward movement in the future. The price is currently above the support levels on all timeframes (4h, 1d, and 7d) and below the resistance levels, which means it has room to grow before encountering resistance. However, it's important to consider that the RSI on the 7d is slightly high at 76.39, indicating that the currency might be overbought in the market and could face a price correction soon. In conclusion, the STORJ/USDT pair seems to be bullish in the short term with a potential for a price correction due to the high RSI on the 7d timeframe. It's always important to consider other factors and market news before making any investment decisions.
by MarsSignals
STORJ (Storj) Tokens Analysis 29/03/2021Fundamentals: Storj, pronounced as “storage,” is an open-source cloud storage platform. Basically, it uses a decentralized network of nodes to host user data. The platform also secures hosted data using advanced encryption. In a white paper published in December,2014, Storj was first introduced to the world as a concept. It was to be a decentralized peer-to-peer encrypted cloud storage platform. Two years later, an updated white paper was published. Here, a decentralized network — connecting users who need cloud storage space with those who have hard drive space to sell — was described. The platform was launched in late 2018. People with hard drive space and good internet connectivity can participate in the network. They become a unit in the network, called a node. Space providers are rewarded by Storj tokens As a decentralized cloud storage network, Storj is unique in more ways than one. For one, unlike traditional cloud storage solutions that store data in huge data centers, Storj runs on a network of thousands of independent computers. Anyone with a few extra terabytes of space can become a node on the platform by installing Tardigrade. All that is required is a strong and consistent internet connection. The efficiency of the network means that hosts pay far less for the storage of their data than when employing Storj was founded by Shawn Wilkinson in May 2014. Wilkinson was a software developer based in Atlanta. He saw how blockchain technology could be leveraged to build a decentralized cloud storage network. Together with his co-founder, John Quinn, the first white paper was published late 2014. Since then, the concept and details have changed. The current version of Storj, V3, was launched in the middle of 2019. In addition to being a blockchain enthusiast, Quinn had extensive background in business development. Prior to founding his own projects (including Storj) he had been involved in the investment banking industry. The concept was finally incorporated as a company — Storj Labs Inc. in May 2015. At the company’s inception, Wilkinson served as CEO. Later, he stepped down for a more experienced hand to take the wheel, with Ben Golub currently serving as CEO. Wilkinson is now the chief strategy officer (CSO), while Quinn serves as the chief revenue officer (CSO) as well as a member of the company’s board. The platform was able to raise 910 bitcoin worth about $460,000 in 2014 in a public crowd-sale. They raised $3 million in a seed funding round three years later and then held a token sale, generating an additional $30 million that same year. Technical Analysis: the Price has touched the extension level 161.8% Fibonacci Projection and currently had retraced to the parallels leg of the same fib which the good sign of trend continuation to the 261.8% there are total of 3 Targets which is the 161.8% fib Projection and the Past ATH and the other is the 261.8%, 361.8% with some price correction in between
Long
by BitonGroup
11