These trendlines are currently carrying the ongoing uptrend and will continue to do so until the rising channel pattern is intact. However, with the increasing bearishness in the crypto market, the aggressive buying sentiment has switched to a slow but steady rally recently, where the prices resonate between two rising trendlines. ![]() As a result, the coin price rallied 200% from the Feb-15th low and reached today’s current price of $0.916. The Stacks price has witnessed a massive inflow since the third week of February 2023. The intraday trading volume in the STX is $581 Million, indicating a 151% gain.A golden crossover between the 50-and-200-day EMA could encourage STX prices to continue their ongoing rally for a few more trading sessions.In theory, the rising channel pattern is a bearish continuation structure that could trigger an aggressive downfall if the coin price breaks below its support trendline.Investing in or trading crypto or stock comes with a risk of financial loss. The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Resistance level: The resistance levels of STX at $1.01 and $1.29.Support Level: The support levels of STX at $0.48 and $0.27.It may indicate towards the end of the correction, and the price may surge higher. Now, if the price breaks above the wedge with a substantial volume. Recently, the price made a breakout of the falling wedge pattern and tried to sustain above the 200 EMA but lacked the support of buyers at the current level. Thereafter the price entered the correction phase and formed a falling wedge pattern. ![]() Stacks coin price prediction concludes that the price surged nearly 260%, thus changing its trend to Uptrend. Overall, the indicator shows a mixed reaction to the market sentiment. Also, histogram bars are forming below the mean line, but the height is decreasing. MACD lines are showing a bearish crossover. RSI is declining slowly by suffering rejections from the SMA line, which shows the short-term bearish sentiment in the market. currently, the price is taking a pullback but failed to sustain above the 200 EMA, indicating a lack of buyers in the market at the current level.Īt the time of publishing, the RSI value of the Stacks coin is 40.83, and that of the SMA line is 42.63. Indicator AnalysisĪs per the EMA analysis, STX price has made a breakout of all the EMAs. However, more buyers must accumulate at the lower levels and increase prices. If the price breaks into the rising wedge pattern, it may surge to break above the previous swing high. Thereafter, the price takes a pullback forming a falling wedge pattern again. Recently, the price took a rebound from the demand zone and made a breakout of the falling wedge pattern. Stacks Price Prediction Using Price Action Strategy The volume to market cap ratio of STX coin is 3.37% indicating low volatility in the market. It has over 1.39 Billion circulating supply. It has received $28.4 Million in volume in the past 24 hours, 59.61% more than the last day. According to coinmarketcap data, STX cryptocurrency holds a total market cap of $84.46 Million and ranks 49th in the crypto market. The Stacks price is currently trading at $0.60 with an incline of 1.49% in the past 24 hours. The Stacks layer taps into $500B in BTC capital with Bitcoin L1 as settlement for dApps. Bitcoin is the biggest, most valuable, and most secure decentralized asset. It lets them use BTC as an asset and settle on the Bitcoin blockchain. STX is a Bitcoin Layer for smart contracts and dApps.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |