Storj Price Prediction – Will STORJ Price Hit $7 in 2021?

This Storj (STORJ) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our STORJ price analysis and prediction.

The crypto industry continues to grow. Many crypto projects pursue improvements to their technologies to stay competitive. Over the past few weeks, the crypto market seems to be consolidating. At the moment, it seems that the crypto industry might finally be on the upswing again.

Will STORJ experience the same price volatility? We’ll find out soon in this STORJ price analysis 2021 article. But first, let’s have a look at what STORJ is.

What is Storj (STORJ)?

A cloud storage platform called Storj, which is pronounced as “storage,” is an open-source initiative. Data is hosted on decentralized nodes through a decentralized network. Advanced encryption is also used to protect the data hosted on the platform.

Storj was introduced to the world as a concept in a white paper published in December 2014. Initially, the cloud storage platform was to be a decentralized peer-to-peer platform that was encrypted.

Updated white papers were published two years later. This article describes a decentralized network – which connects cloud storage space buyers with hard drive space sellers. This platform was launched toward the end of last year.

Participation in the network is available to anyone with a good internet connection and enough hard drive space. Nodes are the units in the network. Participants in the network receive Storj tokens in return for their hard drive space.

Now that we are clear about STORJ do you think STORJ will be beneficial crypto in 2021? Join me and let us see the charts in this STORJ price analysis and STORJ price prediction.

STORJ Current Market Status

As of the time of writing this Storj price analysis, STORJ trades at $2.72 with a 24-hour trading volume of $345,947,800. The price of STORJ has decreased by 5.27% in the last 24 hours.

Currently, the top cryptocurrency exchanges for STORJ are Binance, Huobi Global, OKEx, CoinTiger, and Mandala Exchange. Now, let’s go to the next part of this STORJ technical analysis for 2021.

STORJ Price Analysis 2021

Currently, STORJ holds 110th place on CoinMarketCap. But will the latest upgrades, development, and changes in the STORJ blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this STORJ price prediction article.

As shown above, at the beginning of this month, STORJ turned from its bear-to-bull trend. The volume of trades increased dramatically during this time. Moreover, in the daily time frame, STORJ showed an Ascending Scallop pattern.

Typically, this pattern accompanies an uptrend, but there are some instances when it can change and become a downtrend. In fact, the formation of this pattern in the chart above took place over the past month.

The Relative Strength Index (RSI) is at 68.32, which means that STORJ is in a nearly overbought state. Due to this, traders must remain cautious while trading in order to avoid further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of STORJ.

Since the start of 2021, STORJ’s price has seen many bullish moves which are higher than the previous one. As part of this, there are fluctuations, consolidations, and corrections following right away. Taking this into consideration, STORJ has a competitive market this 2021.

STORJ Price Prediction 2021

The chart below shows that STORJ has performed great over the past few days. Moreover, the STORJ price shows a bullish trend. If this trend continues, STORJ might run along with the bulls, overtaking its $5.045 resistance level and moving even higher to $7.

Alternatively, if the investors turn against the crypto, the bears could take over and push STORJ away from its uptrend position. In simpler terms, the price of STORJ might decrease to almost $2.18, a bearish signal.

Meanwhile, our long-term STORJ price prediction 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.

STORJ Price Prediction 2022

If this bullish trend continues, Storj will reach $15 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $20. There will be a slowdown of this rise, but no major fall in prices is anticipated. With upcoming, partnerships, and developments reaching $7 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

STORJ Price Prediction 2023

If STORJ holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $35, making it not plummet but play consistently.

STORJ Price Prediction 2024

As per the latest upgrades, developments, STORJ price prediction, and new project forecasts of the platform, STORJ investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of STORJ in the crypto market, and it will be the best investment as the price can spike and reach around $45.

STORJ Price Prediction 2025

In the next four years, STORJ’s price could race up to $60. However, reaching this level could not be so difficult for STORJ as an additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that STORJ has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Storj has a bright future ahead of it in 2021. With the ongoing developments happening within the STORJ ecosystem, as well as in the overall crypto market, we may see STORJ reach new heights.

Bullish STORJ price prediction 2021 is $5.045. As said above, it may even reach $7 if investors have decided that STORJ is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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