STORJUSD trade ideas
Storjcoin Rally PreparationIt seems like Strojcoin is getting ready for a strong rally which could result in price tripling in the coming weeks. First of all STORJ/USD rejected very strong support at $0.3 multiple times. Secondly, the price started to produce higher highs and higher lows, which is the first sign of an uptrend. And lastly, Stroj broke above the 200 Moving Average and on a corrective wave down rejected it.
Fibonacci applied to that corrective wave shows that the first potential target is located at $1.8 area, where 327.2% retracement is. It goes inline with the 61.8% level applied through the all-time high.
$1.8 price must be watched for a breakout because the next wave could send Storjcoin up to $3.6 target where yet again two different Fibonacci levels meet with each other. 827.2% and 927.2%.
Currently, Strojcoin very close to the $1 psychological support which could be the starting point for impulsive growth. Although it could correct lower towards $0.57, to test 200 Moving Average once again. And only break and close below the $0.57 could invalidate bullish outlook.
Storj getting of the bottomFibbonaci looks OK.
(Stoch) RSI also.
Volumes are slowly rising again.
It's time for smaller alts to rise.
(check Related Ideas)
Bullish on STORJ (Cup and Handle)Nice bullish cup and handle pattern forming on STORJ with a good possibility to retrace to the 0.618 fib from the last high.
BUY SIGNAL FOR STORJ (STORJUSD)After its raise last night (from 0,65$ to 0.98$), I'm pretty confident STORJ is going to grow in the short term, probably in the 1$ area soon. The idea of this project is pretty cool, and it could become one of the main competitor of Dropbox and any other cloud service out there in the cryptocurrency world (if not surpassing them) since its really low prices. Let me know what you think!
