Storj Price Prediction 2021 – Will STORJ Hit $2 Soon?

Storj Price Prediction 2021 - Will STORJ Hit $2 Soon?
  • Bullish STORJ price prediction ranges from $1.05 to $2.24.
  • The STORJ price might also reach $2.
  • STORJ bearish market price prediction for 2021 is $0.66.

In STORJ price prediction 2021, we use statistics, price patterns, ADX, and much other information about STORJ to analyze the future movement of the cryptocurrency

Storj (STORJ) is an Ethereum token that controls the Storj DCS (Decentralized Cloud Storage) network for developers. When a customer uploads a file to Storj DCS, fragments of that file are distributed to a global network of independent nodes.

Storj, one of several competing crypto-powered cloud storage platforms. It was launched in 2014 and its latest version V3 was launched in 2019. The platform allows any computer running its software to rent out untouched hard drive space to users looking for file storage.

Current Market Status of Storj (STORJ)

According to Coingecko, the price of STORJ is $0.993 with a 24-hour trading volume of $36,481,152 at the time of writing. However, STORJ surged to 0.75% in the last 24 hours.

Moreover, STORJ has a circulating supply of 288,640,627 STORJ coins. Currently, STORJ trades in cryptocurrency exchanges such as Binance, CoinTiger, OKEx, Huobi Global and Upbit. 

Storj (STORJ) Price Prediction 2021

Storj (STORJ) holds the 249th position on CoinGecko right now. STORJ price prediction 2021 explained below with a daily time frame. 

STORJ/USDT Triangle Pattern (Source: Tradingview)

A symmetrical triangle is made up of a falling upper trendline and a rising lower trendline. As the price approaches the apex, it will undoubtedly violate the upper trendline, resulting in a breakout and uptrend on rising prices, or it will breach the lower trendline, resulting in a breakdown and downtrend on falling prices. After drawing two converging trendlines on a chart, a triangle can be seen.

The symmetrical triangle differs from the other triangle patterns in that it is a neutral pattern that does not lean in any direction. While the triangle itself is neutral, it still favours the existing trend’s direction, and traders look for breakouts in that direction.

Currently, STORJ is waving at $0.993. After this, STORJ may continue to fall or rise according to the breakout. With this pattern, STORJ might break out of the upper trendline at $1.07 and will reach the resistance level at $1.37 soon. If the trend reverses, then the price of STORJ may fall to $0.63.

Storj (STORJ) Support and Resistance Level

The below chart shows the support and resistance level of Storj (STORJ). 

STORJ/USDT Support and Resistance Level (Source: Tradingview)

From the above chart, it is observed that the following are the resistance and support level of STORJ.

  • Resistance Level 1 – $1.05
  • Resistance Level 2 – $1.30
  • Resistance Level 3 – $1.57
  • Resistance Level 4 – $ 2.24
  • Support Level 1 – $0.66
  • Support Level 2 – $0.46

The chart depicts the bearish performance of STORJ over the previous month. However, this trend will break out and reach resistance level at $1.92. On the contrary, if the trend reversed then STORJ might fall to $0.63 presenting a bearish signal.

Storj (STORJ) Average Directional Index (ADX)

Let us now look at STORJ’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

STORJ/USDT ADX (Source:TradingView)

The above chart represents the ADX of STORJ with the range at 19.17, so it indicates a weak trend.

Conclusion

The STORJ is one of the cryptos which is great for long-term investment. In addition, short-term STORJ price prediction will be bearish, until the breakout. But, it has a good chance of reaching $1.92 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the STORJ ecosystem, the performance of STORJ would rise reaching $1.92 very soon. But, it might also reach $2 if the investors believe that STORJ is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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