Bitcache is about to be launched soon and STORJ ( a cloud file storage coin) is going to be implemented. It´s been on a downtrend since the August 13 so it should be a nice level for a reversal to an up trend.
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Blue and Red is its resistance. Price will need to surpass level 0.00033335 for 0.0003925 level.
STORJ is undervalued relative to peers. Downward momentum is dissipating, and an inflection point seems close at these levels. Expect a a move up to/above previous trend in due course, but will wait for higher volumes, and clearer reversal of down trend.
Illustrating some different patterns and such for a friend.
Tested final support, still intact. With enough volume it will make a run like it did a week or so back!
I think the product and team are solid. Quick chart, will redo it as I learn more TA. Would be nice to see it kept in the blue trend. For now I just like lightning strikes, triangles and riding the cloud. Open to suggests, comment your revisions.
There two possible scenarios for Storj: 1) Breaks resistance line then buy will moon then. lots of volume went out of storj. fomo might come when ppl who sold realize that they wont have the chance to rebuy at their sellprice. 2) storj will break support. it appears to be a strong support therefore unlikely but to me everything depends now on the next BTC move...
Throwing this out there quickly as it starts to challenge the up-side. Place you buy high enough to avoid the fake-out. Indicators will support. ...but what do I know, I'm just a space suit engineer, not a trader. Good luck!
Downtrend broken. At 40c you are paying for cash backing, recently bouncing strongly off this level.
Since the news of Lead Engineer leaving STORJ we have seen bullish trend since the get go. With STORJ competing with Maidsafe, and Sia we can see this hitting all low's. If STORJ were to come out with some good news this would give us an opportunity for a cheap buy into STORJ for a lengthy hold. As of now I don't think I will be investing in STORJ just yet Lead...