<strong><em>Increasing demand for STORJ creates a bullish engulfing candlestick teasing a price jump above the psychological mark of $1.</em></strong>

Key technical points:
<ul>
 	<li>The market price has appreciated 26.55% over the past 24 hours.</li>
 	<li>The price action shows the daily candle retesting the $0.90 breakout.</li>
 	<li>The 24-hour trading volume of Storj is $396 Million, indicating a hike of 135%.</li>
</ul>
<h2>Past Performance of STORJ</h2>
The STORJ technical chart shows a sharp V-shaped reversal surpassing the long-coming bearish trendline with a price jump of 150% in the last ten days. The buyers quickly joined the rally as the trading volumes skyrocketed out of the blue. Moreover, the price jump surpasses the $0.90 and retests it with a Doji candlestick.

<img src="https://s3.tradingview.com/snapshots/m/mPQ1l9D0.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/mPQ1l9D0/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">STORJ Technical Analysis </span></h2>
<a href="https://coincodex.com/crypto/storj/">STORJ price</a> action shows a lower price rejection candle retesting the $0.90 mark. Hence, traders can expect the buying pressure to propel the prices above the $1 mark. The price jump surpasses the 50(red) and 100-day (blue)EMAs but faces opposition from the trend-defining 200-day(black) EMA. However, the price sustaining above the $0.90 will indeed reach the 200 EMA and the psychological mark of $1.

The RSI and MACD indicators showcase a rise in the underlying bullishness evident by the bullish crossover of the MACD and signal lines. Moreover, the RSI slope reaches the overbought boundary with the 14-day SMA line (yellow) ready to surpass the halfway line. With the indicators and price action teasing an uptrend, the overall STORJ technical analysis forecasts a jump above $1.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
So if the buying pressure sustains, STORJ prices will reach the supply zone close to $1.15. However, a failure to maintain above the $0.90 mark will drop the prices under $0.75.

<strong>Resistance Levels:</strong> $1 and $1.15

<strong>Support Levels:</strong> $0.90  and $0.75

STORJ Technical Analysis: Buying Spree Soon To Cross $1 Milestone

Increasing demand for STORJ creates a bullish engulfing candlestick teasing a price jump above the psychological mark of $1.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

STORJ Technical Analysis: Buying Spree Soon To Cross $1 Milestone

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