Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerOpen API24h ReportPress KitAPI Docs

SRX Price Prediction: Why StorX Network Could Hit $0.1 Soon 

bullish:

0

bearish:

0

Share

Highlights:

  • StorX Network is in a vertical rally after breaching multi-month resistance
  • Rally driven by adoption and perception that SRX is undervalued
  • Continuation of price rally puts $0.1 in focus in the short term

StorX Network (SRX) is following the trend of altcoins outperforming the broader market today. While Bitcoin and Ethereum, two of the market’s biggest directional indicators, are relatively unchanged, StorX Network is up by double digits in the last 24 hours.

At the time of going to press, StorX Network was trading at $0.094, up by 25.3% in the day. StorX Network intraday trading volumes are hinting at a possible continuation of the price rally. They are up by 32.74% in the day to stand at $3.81 million. This is an indicator that even after the recent pump, the market expects StorX to keep going higher in the foreseeable future. A couple of factors support the rising bullish sentiment around SRX. 

SRX’s Low Market Cap Positions It Well for Growth

One of them is that SRX has a relatively low market cap, which gives it significant room for growth in the future. StorX Network currently has a market capitalization of $68.45 million. This is a tiny market for a cryptocurrency that is positioned in the fast-growing DePIN market. Even if SRX were only to hit a market cap of $1 billion, this would be a significant change in the price. 

While a $1 billion market cap may seem too far away for a cryptocurrency whose market cap is still under $100 million, this is an easily achievable target in the cryptocurrency market. The market already has meme coins with a market cap in the 10s of billions of dollars, driven by nothing but hype and speculation. As such, for a cryptocurrency with solid fundamentals, especially in a fast-growing market such as DePIN, the odds of parabolic value appreciation are within the cards. This explains the buildup in upside momentum despite Bitcoin not moving much yet.

StorX Network Gaining Adoption In Strategic Markets

Besides its low market and the fact that it is positioned in a growth market, the StorX Network team has been making moves that add to SRX’s intrinsic value. For instance, back in July, it was announced that StorX Network had been integrated with Acronis, a cybersecurity giant. StorX’s encrypted blockchain technology is now integrated into Acronis systems through this partnership. The target is to help corporations in critical cybersecurity areas such as disaster recovery and ransomware resistance. This is a big deal for StorX because the use case from the partnership with Acronis will be worth $42 billion by 2026.

More Exchanges Listing SRX

StorX also continues to gain momentum from the growing list of exchanges that support it. While it is not yet listed on the big exchanges, it is increasingly available to retail money. In June, StorX was listed on MEXC, one of the best-known exchanges for investors to get in early on the next big thing in cryptocurrency. As such, by being on this exchange, the odds are high that retail money could FOMO. That’s especially now that SRX is trending and its price is outperforming most top 100 cryptocurrencies. 

Technical Analysis – SRX Rallies After Breaching Multi-Month Resistance

SRX has been on a strong uptrend after breaching the multi-month resistance at $0.066. With this resistance broken and momentum getting stronger, the odds are high that SRX could test $0.1 in the short term. 

SRX
Source: TradingView

A rally through $0.1 could pave the way for a test of $1 in the short term. On the other hand, if profit-taking triggers a short-term correction, the key level to watch would be $0.066, which is now support. However, with FOMO building up and interest rates set to come down, the odds are higher for a rally to $0.10 in the short term.

eToro Platform

Best Crypto Exchange

  • Over 90 top cryptos to trade
  • Regulated by top-tier entities
  • User-friendly trading app
  • 30+ million users
9.9

5 Stars

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

bullish:

0

bearish:

0

Share
Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.