An in-depth analysis of technical and fundamentals factors will help us to discern accurate Storj price prediction for 2021 to 2022. Customers are becoming increasingly wary of having all their eggs in one basket, and that’s where Storj comes in with its vision of decentralized cloud storage infrastructure.
At the time of writing this piece, Storj prices hovered north of $1.51. With that, Storj enjoyed an impressive market cap of $483,348,516, according to data available on CoinMarketCap. That places Storj right among the top ten hyperscalers of decentralized cloud storage.
Storj is running like clockwork towards new records highs before the end of 2021. If you are looking for a reason to invest this early, look no further than this Storj price prediction.
Storj Price Prediction: Technical Analysis
At the edge of crypto-market chaos, Storj price prediction is more bullish than bearish, despite the muddied waters. However, there isn’t much to be excited about the technology on Storj, but at least for now, the case of STORJ remains bullish.
Fears of Bitcoin price prediction turning bearish and pulling down the market with it don’t seem to put a dent on Storj, and Storj is not showing signs of slowing. Besides, its price action has improved, suggesting that this crypto is approaching a new up leg in a powerful surge to the up move. Storj scaled greater heights in August, ending the month in a position of competitive advantage.
Based on the chart above, Storj is showing a strong move on the upside. The crypto traded on these analyzed lines and managed to form a significant breakout, which was, however, countered by strong bearish momentum. Before that, Storj exhibited a strong upward directional bias for the better part of the start of September, clocking RSI well above 80.
A large green body emerged on the candles on the last week of August. This proves a strong directional consensus on the upside that prevailed during that week. Storj ended above a significant resistance level, which was almost immediately met with some temporary pullback outside the defined range, but broadly speaking, there is a chance of the bullish trend persisting for another breakout.
More about Tehnical Analysis
The price action analysis from mid-August to the start of September shows that the main breakout that occurred when STORJ moved past $1.48 is still very much in play. After each move on the higher side, STORJ price prediction consolidated some time, only to resume the uptrend towards the key resistance level at $1.85.
All in all, we see STORJ continuing to outperform the broader markets relatively. Such behavior is also observed when compared to Bitcoin, despite the latter carrying strong significance in the market. The coming months will make it necessary for STORJ to stay on an upward trend with relatively strong momentum against market forces.
The monster advance from mid-August 2021 has some attractive credentials, having broken the main resistance levels dating back to the start of the year. Now that STORJ has cleared resistance, will it make new highs? One way to determine what’s next is to judge the odds of the continued rally on the current momentum.
STORJ price prediction has shown potential for strong momentum, as it has consistently moved to stay above the 50-day Moving Average with short drop triggers by typical price corrections. At the moment, STORJ is trending to clear the Directional Movement Index. What makes this even more important is that the last time STORJ was attempting to clear its $1.10 resistance level, the RSI and DMI were in synch. This time around, there is a disconnect between RSI and the ADX line.
Now, STORJ is about to attempt a breakout of the moving average, with price leading higher. If RSI changes to an upward momentum, this will greatly increase the chances Storj can break to new highs as it shows that momentum is following the price action.
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