STORJ, FIL & BLZ: Technical Evaluation For March 23



Filecoin (FIL) has been lowering because it reached an all-time excessive on March 17. The most probably situation has it dropping to the $63 assist degree.

Storj (STORJ) is buying and selling between long-term assist and resistance at $0.63 and $1.22. 

Bluzelle (BLZ) has accomplished a 4th wave pullback and will improve in the direction of a brand new all-time excessive worth.

Storj (STORJ)

At the start of February, STORJ broke out above the $0.63 resistance space and proceeded to succeed in a excessive of $0.947.

Nonetheless, it dropped sharply after producing bearish divergence within the RSI.  However, the drop served to validate the $0.63 space as assist. STORJ has been shifting upwards since. 

The closest resistance space is discovered at $1.22. 

For the reason that aforementioned divergence, the RSI has been shifting upwards. The Stochastic Oscillator and MACD have been doing the identical. 

Due to this fact, it’s seemingly that the pattern is bullish, and STORJ will improve in the direction of the $1.22 resistance space.

Highlights

  • STORJ is buying and selling between $0.63-$1.22.
  • It has damaged out from a descending resistance line.

Filecoin (FIL)

FIL has been shifting upwards since Feb. 22, when it reached a low of $30.37. On March 17, it reached a brand new all-time excessive worth of $97.30.

FIL has been lowering since. Regardless of the drop, technical indicators are nonetheless bullish. The RSI is above 50, the MACD is constructive, and the Stochastic oscillator has not made a bearish cross. 

At the moment, FIL is buying and selling proper on the 0.382 Fib retracement assist degree, discovered at $71. The subsequent assist is $63, being each the 0.5 Fib retracements degree and a horizontal assist space.

The short-term chart assist the drop in the direction of $63.

Evidently FIL is inside an A-B-C corrective construction, at present being within the C wave. If waves A:C has a 1:1 ratio, FIL would attain a low of $63, coinciding with the beforehand outlined assist areas.

Each the RSI and MACD are bearish, additionally supporting this downward motion.

The shorter-term six-hour chart helps the continuation of the upward motion. 

STORJ has damaged out from a descending resistance line (dashed). After retracing, it has validated an ascending assist line (strong). The latter additionally coincides with the 0.382 Fib retracement degree.

Whereas technical indicators don’t verify the bullish reversal, the confluence of assist ranges makes it seemingly that STORJ will bounce.

Highlights

  • FIL is buying and selling above assist at $0.63.
  • It’s within the C wave of an A-B-C construction.

Bluzelle (BLZ)

BLZ has been growing since breakout out from and re-testing the $0.26 degree as assist.

On March 11, it reached a excessive of $0.529 earlier than starting to lower. The drop ended on the $0.29 degree. That is each the 0.5 Fib retracement of the earlier improve and a parallel channel’s assist line.

Due to this fact, the motion doubtlessly accomplished what is named a ‘‘4th wave pullback.”

BLZ has been growing ever since. 

If it has certainly begun wave 5, BLZ will attain the subsequent seemingly excessive close to $0.72.

Highlights

  • BLZ has been lowering since March 11.
  • It has doubtlessly accomplished a fourth wave pullback.

For BeInCrypto’s newest Bitcoin (BTC) evaluation, click on right here.

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