Key Takeaways
- The STX price closed the previous day’s trade at $1.059 with a market capitalization of $1.4 billion and a circulating supply of 1.30 billion STX
- The asset is currently attempting to reverse the trend, yet the bearish trend cannot be completely nullified
- With another leg pulled down, the STX price may eventually slide below $1 to hot the lower support around $0.8
Stacks(STX) Technical-Analysis for Today: 09 March 2022
The Stacks price consolidated for the first couple of days this month and quickly fell deep down the cliff to hit levels close to $1. Currently, it is attempting a notable flip to reach out the safe zone above $1.2. But the bears appear to have jumped in and may shed some of the gains.
The STX price at the press time is $1.12 with a jump of nearly 6.44% compared to the previous day’s close. Yet the trading volume is down by more than 9% while the market capitalization has surged by more than 6%.
Additional Read: What is Stacks (STX)?
STX /USDT Technical-Analysis for Short-Term
Source: Tradingview
- With the sudden rebound, the STX price appears to have completed with the cup of the cup & handle pattern
- The bears seem to have jumped in, who may drag the price to the lower support and hence forming the handle
- Yet the asset is expected to break through the consolidation once hit the lower support to ignite a strong flip
- However, a notable buying volume has accumulated and hence only a minor pullback may make its way instead of a drastic plunge.
Click here to read detailed technical analysis of STX/USDT.
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