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EIA Natural Gas Report: As of the week ending October 10, total U.S. natural gas inventories were 372.1 billion cubic feet, an increase of 80 billion cubic feet from the previous week and 26 billion cubic feet from the same period last year, a year-on-year increase of 0.7%. At the same time, it was 154 billion cubic feet higher than the five-year average, an increase of 4.3%.The EIA natural gas inventory in the United States for the week ending October 10 was 80 billion cubic feet, which was in line with expectations of 81 billion cubic feet and the previous value of 80 billion cubic feet.New York silver futures hit $53 an ounce, up 3.16% on the day.Russian Deputy Prime Minister Novak: OPEC+ cooperation will help balance global supply and demand.On October 16, ECB board member Wunsch said that the ECB has done almost perfect in dealing with this "once-in-a-century" inflation shock. Wunsch pointed out that although he had hoped that the ECB would start the tightening cycle earlier after the inflation surge in 2022, overall he was satisfied with the subsequent decision. "I was one of those who thought we should act earlier, but then we did catch up. I would say that we have done almost perfect since then." He reiterated his previous view that there are no obvious upside or downside risks to inflation at present. "If you have to choose between upside or downside risks, I would say that the risk is slightly biased to the downside, which is mainly affected by the appreciation of the euro and the economic trend. But overall, we are in a good position."

Crypto Cloud Storage STORJ Leads Rally by 55% As ETH, BTC Consolidate

Jimmy Khan

Jun 24, 2022 14:48

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The top cryptocurrencies were anticipated to be driving the rise when the cryptocurrency market passed the $900 billion threshold today.


Storj managed to seize dominance, overtaking every other significant cryptocurrency with its ascent despite the fact that it turned out to be a relatively unknown coin.

Storj?

Indeed, Storj. The asset is, as it sounds, the native token of a cloud storage platform supported by cryptocurrencies, which until today was merely another coin.


However, the altcoin's one-day increase of 55.08 percent succeeded to place it on the map both literally and figuratively, as it joined the top 100 cryptocurrencies list.


Due to the price increase, the asset's market value increased by approximately $100 million during the course of the previous day. This increased the asset's overall growth over the preceding nine days to a total of 156.7 percent.


More than half of the losses that the cryptocurrency sustained during the May 65 percent fall were also nullified by this rebound in addition to the losses registered by the altcoin this month during the June 9 crash.


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The green candle, which closed above both the 100-day SMA and the 50-day Simple Moving Average (red line), insured that the gain was sustained (blue line). The 200-day SMA (purple line), which would effectively transform this into a bullish run, is also getting closer.


Additionally, after more than two months, the Awesome Oscillator switched the active trend's direction from bearish to bullish, with the green bars climbing above the neutral.


Now, it has to be seen if the asset will be able to sustain this growth moving forward or if it will just be another one-day wonder.

Ethereum and Bitcoin Take a Break

The king currencies have been moving slowly, essentially not at all, as the altcoins have taken the lead.

BTC has made little progress at all during the past week, hovering around the $20k to $21k level, whereas ETH recently broke the $1.1k threshold.


However, Bitcoin's recovery has been so sluggish that the king currency has not yet reached the upswing stage that every other altcoin is presently in.


Additionally, the Relative Strength Index (RSI), which has been signaling a trend reversal for more than two months, shows that BTC is still trapped in the negative zone.


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