The price of STORJ has shown signs of recovery after a recent decline, hovering around $0.258 as RSI and MACD indicators suggest the potential for upside.
Bullish Structure and Trading Levels
STORJ is currently trading above a key retracement zone of $0.260–$0.250, with a recent low of $0.248. This area aligns with an Inverse Fair Value Gap (IFVG), often associated with institutional accumulation. The price remains above this zone, preserving a bullish structure. The daily chart indicates the formation of higher highs and higher lows, confirming a bullish breakout. Target levels in the near term are $0.3377 and $0.3524.
Volume, Sentiment, and Technical Confirmation
The 24-hour trading volume has decreased by 16.59% to $8.38 million, indicating a potential reduction in short-term interest. Community sentiment remains strong, with 91% of 17,366 votes favoring price appreciation. However, such optimism can precede liquidity sweeps, especially when the price hovers near local support.
Short-term Structure and Resistance Zones
The price is currently in a consolidation range between $0.256 and $0.260, following a V-shaped recovery from $0.248. A minor resistance exists at $0.260–$0.262 that must be breached for further upside. Short-term support is defined at $0.254–$0.256. The five-minute chart suggests a possible breakout if volume increases and momentum continues. A close below $0.2362 would invalidate the bullish structure, signaling a return to lower levels.
STORJ shows signs of bullish recovery following recent market fluctuations, but maintaining key levels will be crucial for confirming further upward movement.
