The cryptocurrency sector is expanding. To remain competitive, several crypto projects strive to develop their technology. The crypto market appears to be stabilising in recent weeks. At present, it appears like the cryptocurrency business is on the mend. This Storj Price Prediction article relies solely on technical analysis. The important metrics that we used when developing our STORJ price prediction and analysis are shown below.
Let’s see in this article what the future holds for Storj cryptocurrency. But before that, we will try to understand what Storj is, and later we will look at its price analysis and then at Storj price prediction.
What exactly is Storj (STORJ)?
An open-source venture named Storj, which is pronounced “storage,” is a cloud storage platform. A decentralised network hosts data on decentralised nodes. Advanced encryption is also employed to safeguard the platform’s data. In a white paper released in December 2014, Storj was introduced to the public as a concept. Initially, the cloud storage platform was intended to be a decentralised peer-to-peer encrypted network.
Two years later, updated white papers were released. This article presents a decentralised network that links purchasers of cloud storage space with sellers of hard drive capacity. This platform was introduced towards the end of last year.
Anyone with decent internet access and enough computer space is welcome to join the network. The network’s units are known as nodes. In exchange for hard drive space, network participants earn Storj tokens.
Now, let us look at the current market status of the Storj token.
STORJ’s Current Market Situation
STORJ is now trading at $2.72 with a 24-hour trading volume of $345,947,800 as of the time of writing this STORJ price prediction article. STORJ’s stock has dropped 5.27 percent in the previous 24 hours. Binance, Huobi Global, OKEx, CoinTiger, and Mandala Exchange are currently the main cryptocurrency exchanges for STORJ.
Let’s move on to the next section of our STORJ price prediction article for 2022.
Analysis of the STORJ Price
STORJ is currently ranked 110th on CoinMarketCap. If we look at the daily frame chart, we will notice that STORJ reversed its bearish trend at the beginning of this month. During this period, the volume of deals surged considerably. Furthermore, STORJ displayed an ascending scallop pattern in the daily time period. This pattern is typically associated with an uptrend, but it can shift and become a decline in some cases. In reality, the construction of this pattern in the preceding chart occurred within the last month.
The Relative Strength Index (RSI) is now at 68.32, indicating that STORJ is virtually overbought. As a result, traders must use caution when trading to avoid more losses.
Since the beginning of 2021, STORJ’s price has undergone several positive movements that are greater than the previous one. As a result, there are immediate swings, restructurings, and adjustments. Taking this into account, STORJ will face a competitive market in 2022.
The daily graphic illustrates that STORJ has done admirably in recent days. Furthermore, the STORJ price is rising. If this trend continues, STORJ might run with the bulls, breaking over its $5.045 resistance mark and reaching $7.
Alternatively, if investors abandon the cryptocurrency, the bears may seize control and knock STORJ away from its upward position. In layman’s words, the price of STORJ might fall to about $2.18, indicating a negative indication.
Meanwhile, our STORJ price prediction for 2022 is positive. It has a good chance of reaching new heights. However, this will only happen if many earlier psychological barriers are broken.
STORJ Price Prediction 2022
Storj will hit $15 by the end of 2022 if the current positive trend continues. Furthermore, the first half of 2022 will see rapid growth of up to $20. There will be a slowing of this growth, but no significant drop in prices is expected. With planned collaborations and advances, reaching $7 is fairly ambitious in terms of pricing, but it is undeniably doable in the near future.
Price Prediction 2023
If STORJ can firmly maintain the support level around the 200-MA, the long-term moving average of 200 days, purchasers will have adequate time and stability to create the next attack mission at the critical level of $35, causing it not to drop but to play regularly.
STORJ Price Prediction 2025
STORJ’s price might reach $60 in the next three years. However, hitting this level may not be as tough for STORJ as other medium-, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the STORJ price prediction, it has a high probability of hitting a new ATH during the next five years.
STORJ Price Prediction 2031
According to the Storj price prediction and technical analysis, the STORJ price is predicted to reach an average price level of $75.80 in 2031, with the current year’s minimum price value of $73.64. Furthermore, STORJ has a maximum price level of $82.45.
Conclusion
Storj has a promising future in 2022. With the current changes inside the STORJ ecosystem and the larger crypto market, we may see STORJ reach new heights.
The bullish STORJ price forecast for 2022 is $5.045. As previously said, it may even reach $7 if investors conclude that STORJ, along with popular cryptocurrencies like Bitcoin and Ethereum, is a suitable investment in 2021.
Also read: VGX Price Prediction 2022: Voyager Token’s Future
