STORJ Continues Its Bullish Move by Posting 30% Gains

STORJ, which is the 88th biggest coin by market cap according to CoinMarketCap, surged in price over the last 24 hours as its price has climbed just over 30% in the last day.

Currently, the price of STORJ hovers at $0.9432. This follows after it set a 24-hour high of $0.9733. Its 24-hour low lies at around $0.6875, according to the crypto market tracker.

Furthermore, 24-hour trading activity for STORJ has also increased by more than 100%, as the figure has reached $408,455,565 – a 127.93% increase.

Looking at the daily chart for STORJ/USDT, the price of STORJ has been showing green candles since 13 June. This trend then continued on the daily chart with minor retracements up until yesterday, when STORJ posted its largest green candle in the move.

The bullish move saw STORJ’s price rise from $0.4005 to its current levels, which is a 130% move in the last 10 days.

There are bullish flags that suggest that this price move will continue. The first bullish flag is the 9 Exponential Moving Average (EMA) line convincingly crossing above the 20 Exponential Moving Average (EMA). The next major bullish flag is the Relative Strength Index (RSI) line positioned well above the RSI SMA line. In addition, the RSI is also positively sloped.

There may be a small retracement in STORJ’s price following the significant move in the last 24 hours. If this scenario plays out, the price of STORJ could retract to as low as $0.6929 – the current level of the 9 EMA.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.