STORJ - The Next BIG Gainer?Storj Coin has been trading at the price of $0.5 for quite some time, but after the rally started back in October price has reached an all-time high, hitting $3. The corrective wave followed where Storj lost back to the USD over 80%, while the correction was stopped by 88.6% Fibonacci retracement level which was rejected cleanly.
The price of Storj remains undervalued, considering the facts that the current price is only $1 while the total supply is only 500,000,000 SJCX, and the price has been trading on lows for an extended period of time.
However, there are very strong resistance levels, that have to be broken in order for Strong to starting producing heavy gains. First resistance is at $1.56, and second $1.78. Break above the second resistance should confirm a very bullish scenario for the Stong and could push price x10-20 in the midterm.
On a downside. break and close below the $0.6 support could invalidate bullish outlook.
Storjcoin
STORJ/BTC - 2/13/2018After reacting well to a double top pattern, STORJ/BTC began its decline like every other coin currently. Since January it has been forming consolidation in the form of a descending triangle. Although the prices match the pattern in the forms of higher lower highs and relatively the same lows, this is not a great sign for holders of the coin. In the long-term, because the descending triangle is a continuation pattern, this means the price is expected to continue in this downtrend for the length of the breakout of this triangle IF it is broken (and accurate). Inside the triangle though, lies some hope. There is an ascending triangle formation that is forming inside of the larger scale triangle. If this ascending triangle is broken correctly, the price may be able to escape its current drought and prevent the price from entering a major decline if the descending triangle is broken. Although, the RSI (debatably) shows a triple top that may indicate a reversal, in this case, continuing to form the descending triangle and perhaps break.
Important Resistance Levels: 12110, 14361, 16336
Important Support Levels: 9918, 8059
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Written by:
Arham Bheda
Senior Research Analyst
Another Triangle For StorjHi guys,
As you can clearly see there is a triangle that we are in. We can trade till second quarter of February after then we will decide what to do.
I hope February will be the month of Storj.
Have a great day.
(P.S. : I'm a beginner trader, trading for about 1 months. This is my opinion, do not invest your money based on what i drew or i said.)
StorJ Next Move Coming ? looks Great ! quick 50%StorJ touched high of 0.00023108 not a while ago and seems to backed out to the 0.00016500-0.00017500 to find support with 24 hours low of 0.00016361
seems to be in bullish channel !
Buy In : 0.00016500 - 0.00017500
Sell : for the ones that like to hold longer around 0.00032250 (about 50%)
and for short term 0.00021450 - 0.00023000 (20%-35%)
i dont like to use stop loss but if you have to i will go for 0.00013500
Good Luck
Remember Patience is the KEY !
STORJ - Cup and Handle FormationStorj looks to be forming a cup and handle formation after a nice run-up in price. I will be watching for a breakout above $1.73 where I will be adding to my position.
Storj/USD Pair regression trend trading channelHere's an uptrending regression channel making waves on STORJ.
The Fibonacci retracement is showing that we still have a potential 50% in the coming fortnight, and the use of this regression channel should be able to squeeze out much more than 50% with timely trading.
This chart is based off of 2hr candles & looks back as far as early September.
[TRADE IDEA - FORECAST] STORJBTCIt's a brand new coin and there's not much intel so we can make a better-educated guess so let's see what we have.
First, let's keep with the basics: Look at this last rally up, we all know: everything that goes up too fast tends to readjust, so waiting could be your friend to avoid a massive dump.
Second it's very close to the "oldest" resistance level which is reinforced by the fibonacci level at 0.000108, so the downside is huge.
Even though the volume is increasing, this is expected in such a new coin, so I would not count this as such a positive indicator.
The rest of indicators show a very overbought position plus sellers are passing buyers, so it's very likely to a readjustment.
A safe approach would be waiting a couple hours and see if it will readjust close to the up trend support(green arrow) so a good buy level with a smaller down side would be around: .000095-.0001 and watch close to the .000108 resistance level.
Or in case of breakout which is possible despite the indicators(it's a "new coin" so usually TA is not very reliable in this case) a safe abroach would be buying above the highest candle that closes COMPLETELY above the .000108 resistance level. I like to measure with 1h candles to be safe, you can use smaller time frames if you feel comfortable - the longer the safer.
In case of breakout sell target would be around: .00014, if it fails to get there get out quickly profitable, better a small smile than a big tear.
Good trading,