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Storj (STORJ) Technical Analysis: Mysterious Surge despite Today’s Market Crash

Cryptocurrency NewsOct 11, 2018 09:22AM ET
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Storj (STORJ) Technical Analysis: Mysterious Surge despite Today’s Market Crash

The crypto market has shed over $15 billion in the last 24 hours, leaving a vast majority of tokens deep in the red as Bitcoin struggles to regain composure. But amid this devastation, decentralized cloud storage project Storj has managed to leap by 30% against BTC without the community being aware of it.

According to figures on Coinmarketcap, 24-hour trading volume has exploded from $2,112,340 to $16,460,400, with 46% of all Storj trades executed on the Upbit exchange against the Korean won. It is unclear at this time why sudden bullish support has rushed in from Southeast Asia. The Storj Telegram group has yet to comment on the recent movement, and people are already speculating that insider trading may be afoot.

Whatever the reason, let’s take a look at the STORJ/BTC chart and see where this is going.

On the 4-hour STORJ/BTC chart, we can see...


This article appeared first on Cryptovest
Storj (STORJ) Technical Analysis: Mysterious Surge despite Today’s Market Crash
 

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