It seems like Strojcoin is getting ready for a strong rally which could result in price tripling in the coming weeks. First of all STORJ/USD rejected very strong support at $0.3 multiple times. Secondly, the price started to produce higher highs and higher lows, which is the first sign of an uptrend. And lastly, Stroj broke above the 200 Moving Average and on a corrective wave down rejected it.
Fibonacci applied to that corrective wave shows that the first potential target is located at $1.8 area, where 327.2% retracement is. It goes inline with the 61.8% level applied through the all-time high.
$1.8 price must be watched for a breakout because the next wave could send Storjcoin up to $3.6 target where yet again two different Fibonacci levels meet with each other. 827.2% and 927.2%.
Currently, Strojcoin very close to the $1 psychological support which could be the starting point for impulsive growth. Although it could correct lower towards $0.57, to test 200 Moving Average once again. And only break and close below the $0.57 could invalidate bullish outlook.
Fibonacci applied to that corrective wave shows that the first potential target is located at $1.8 area, where 327.2% retracement is. It goes inline with the 61.8% level applied through the all-time high.
$1.8 price must be watched for a breakout because the next wave could send Storjcoin up to $3.6 target where yet again two different Fibonacci levels meet with each other. 827.2% and 927.2%.
Currently, Strojcoin very close to the $1 psychological support which could be the starting point for impulsive growth. Although it could correct lower towards $0.57, to test 200 Moving Average once again. And only break and close below the $0.57 could invalidate bullish outlook.
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Get ready, rally is on its' way
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Support rejected, new higher high produced
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Looking good for a longer term uptrend
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First target reached
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Needs to break above the resistance to go higher
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Broke above the resistance, moving towards the target