Storj (STORJ) price shows a slowdown in momentum as it rejects from a key hurdle. A build-up of sell orders could trigger a massive correction that co
Storj price witnessed a 147% rally in roughly five weeks. This move has liquidated $12.40 million worth of shorts and $8.75 million long positions. A sell-off could easily trigger a 16% pullback for
holders and traders with open positions. Storj liquidations cross $20 million Storj price has witnessed a 147% rally in the last 37 days, moving from a low of $0.218 on September 1 to creating a local top at $0.542 on October 9. This move is encapsulated within the $0.275 to $0.528 range, created in early November 2022. A look at Coinanalyze data shows that the recent upswing for Storj price has pushed roughly $20 million worth of positions into liquidations.
/USDT 1-week chart The drop in open interest and the massive scale of liquidations suggest that the smart money could be preparing the altcoin for correction. Comparing the recent Storj price action, which has produced three higher highs to the Relative Strength Index , reveals a bearish divergence. This technical formation contains an upward-moving price action followed by a declining momentum, which often leads to a correction for the underlying asset.
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