STORJ Price Prediction: STORJ Token May Form a Golden Cross as AI Coins Rally

Storj (STORJ) price soared to a high of $0.6660, its highest level since April, making it one of the best-performing tokens in the market.

Storj (STORJ), a blockchain network that specializes in decentralized storage and graphical processing units, continued its strong rally on Friday, reaching its highest levels since April.

The Storj token price soared to a high of $0.6660, surging by over 157% from its lowest level in August. The token’s strong performance made it one of the best-performing cryptocurrencies in the market.

The uptrend in the Storj token price was accompanied by a high-volume environment. Data from CoinGecko showed that the 24-hour volume stood at over $128.8 million. Notably, Storj recorded a daily volume of $174 million and $238 million on Thursday and Wednesday, respectively.

Prior to that, Storj had less than $30 million in daily volume, marking its highest point since February.

Meanwhile, Storj’s futures open interest continued rising, reaching a high of $63 million, which is its highest level since December 2023.

The rally in Storj occurred as investors shifted their attention back to artificial intelligence assets in both the cryptocurrency and stock markets.

Stocks like Nvidia and Palantir soared, bringing their valuations to over $3.2 trillion and $100 billion, respectively. At the same time, cryptocurrencies like AI Companions (AIC), Akash Network (AKT), and Bittensor (TAO) also continued rising.

Storj is considered an AI coin due to the services it provides, including storage and GPU leasing.

Its storage solution allows users to share their free storage and earn money when others utilize it. According to its website, its solution is significantly cheaper than popular cloud computing platforms like AWS, Azure, and Google Cloud.

Moreover, Storj owns Valdi, a platform that enables users to lease GPUs like NVIDIA H100, A100, and GeForce RTX.

For instance, users can now lease the 8x NVIDIA H100 SXM5 80GB, which costs over $260,000, for just $2.29 per GPU hour.

The Storj token price formed a triple-bottom at $0.3145 over three months from July to September. It has now broken out above the neckline of the triple-bottom at $0.5310, which was its highest point on July 29.

The token is now set to form a golden cross as the 200-day and 50-day moving averages approach a crossover. It is also approaching the 50% Fibonacci Retracement level.

Hence, the path of least resistance for the token is upward, with the next point to watch being the 50% retracement point at $0.7130.

The other possible scenario is a retest of support at $0.5310 before resuming the bullish trend.