Deepika- The price of STORJ is trading close to $0.234406. The coin’s price rose by 4.66% in the past 24 hours.
- The STORJ price is observing an increase of 0.78% in the last 7 days.
- The STORJ market capital is at $33711867.
Trend Explanation
By exploring the previous price data, we can find that STORJ is in a downward trend currently. The price increased by 0.78% last seven days and we can say that STORJ performed well in the last week as compared to the last few days but its long-term trend is downward. From its peak price of $3.81, it fell -93.84% in the last 2 years and destroyed the investors’ wealth. As we know, the current market sentiments are not good and there is no big volume or even buyers available in the current market condition. This could be a reason for the poor performance of the coin.
A close look at STORJ Indicators
EMA:
The price of STORJ is trading beneath 50 and 200 EMA currently which suggests the price is in a downward trend. We have also seen a death cross between 50-Day EMA and 200-day EMA. If the sellers continue to push the price downwards, it could fall more in value in the upcoming week and the current support will get destroyed by the sellers.
MACD:
Right now, the moving average convergence divergence is giving a bearish view. Both the MACD line and the signal line are beneath the zero line which means the price is in bear mode.
Trendline Evaluation:
As per the Trendline, it seems that the price is respecting the Trendline. For now, it’s getting support from the trendline and can go upward to the resistance line shortly. But shortly, it appears to be bearish. So, the price of STORJ can continue to fall and try to break the current support.
Volume Evaluation:
STORJ’s trading volume of 24 hours is $8571349 with a -38.80% decrease in volume in the last 24 hours. However, the volume is low because of adverse market conditions and due to the lack of buyers in the market. Buyers are not confident about the market anymore. Also, there is no strength in the volume visible in the current market.
Technical Levels:
- Support – The current support level of STORJ is $0.22098.
- Resistance –The current resistance level of STORJ stands at $0.41402.
Conclusion
According to the analysis, the bears are destroying the bulls and there is no chance for the bull’s comeback. The price is under the control of bears, and it is expected to fall more in the near future. STORJ’s price presently shows a pessimistic scenario. Major reliable indicators like EMA, RSI, and MACD are giving negative signals about the STORJ coin. Investors are also not showing any significant buying interest and this could be happening because of the consistently poor performance of the coin.
Disclaimer
This evaluation or analysis given above is only for educational and informational purposes. You should not be taken it as financial, investment, or any other trading advice. Investing and trading crypto coins comes with risk. Please consider your circumstances and risk profile before making any investment decisions.
