Crypto Technical Analysis

Stacks (STX) Technical Analysis: STX Price Primed a 23% Upswing Soon!

STX Price

Key Takeaways

  • The Stacks price closed the previous day’s trade at INR 86.16 with a market capitalization of INR 153 billion and a circulating supply of 131 Cr STX
  • The STX price after the recent spike may consolidate for a while and later pull a strong leg up gaining more than 20% 

Stacks(STX) Technical – Analysis for the Month

The Stacks price began the monthly trade on a bearish note and plunged by more than 28%. However, the sudden spike since the early trading hours flipped the bearish trend and piled up a huge buying volume. Currently, the price appears to be a little exhausted as it is consolidating within narrow ranges. After a brief consolidation, the price is expected to pull a massive leg up towards INR 150 by the end of April 2022. 

Stacks(STX) Technical Analysis at a Glance

The Stacks price maintained the uptrend line, despite multiple surges and plunges during the meantime. The asset consolidated for a long time before it spiked high during the times when most of the assets are falling hard. After a quick surge, the price is consolidating healthy, probably to pull a notable leg up later.

Short-Term The STX price may maintain a notable upswing after a huge spike and hence a consolidation may be expected for a while before the next leg up
Mid-Term The asset is very less volatile in the past couple of days and the fresh spike may indicate notable volume to ignite a notable uptrend
Long-Term The long term forecast is pretty bullish as the price is about to take off a significant upswing very soon

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 69.20 / 47.98 Buy / Neutral
MACD(12,26) 0.001 / -0.034 Buy / Sell
Average Directional Index(ADX) 47.55 / 30.06 Neutral / Sell
Bull-Bear Power 0.1830 / -0.09 Buy / Sell

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 INR 88.47 INR 97.62
Moving Average(MA)-200 INR 90.00 INR 134.23
Resistance INR 96 INR 134
Support INR 85 INR 80

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 34.45 40.14
Ultimate Oscillator 59.72 47.73
Average True Range(ATR) 0.002 0.09
CCI 215.99 -47.18

The indicators suggest a notable upswing in the short term as most of them are extremely bullish. Apart from being extremely bullish, it is also highly volatile at the moment and hence a drastic price movement can be expected irrespective of the direction. However, in the long term, the asset possesses a bearish trend and also the price is less volatile.  

STX/INR Technical-Analysis for Short-Term

STX Price

Source: Tradingview

  • The Stacks price appears to have flipped the bearish trend that is ignited at the beginning of the month
  • The asset has faced a couple of rejections at these levels before, and hence a strong rebound is the need of the hour
  • The price is waiting for a strong boost that may clear the neckline of the double bottom pattern at INR 96.71 
  • Further, a notable upswing may be ignited that could uplift the price above a 3-digit figure initially and later at the pivotal levels at INR 112

STX/INR Technical Analysis for Long-Term

STX Price

Source: Tradingview

  • The STX price since the beginning of 2022 trade is swinging within the pivotal resistance and support levels
  • After the recent flip from the lower support, the price is expected to maintain a significant uptrend towards the resistance at INR 113
  • However, INR 98.32 may hinder the rally as the asset has faced a trend reversal a couple of times before. 
  • Once the asset surpasses the 3-digit figure, it may validate a significant uptrend further.

Where & How to Buy Stacks(STX)

Buying Stacks tokens is extremely simple and safe on CoinDCX. To register, just download the CoinDCX App and follow the instructions. After verification of your entered details, fund your wallet and buy an STX coin. 

Want to invest but cannot pour in a huge amount? No worries, CoinDCX’s Crypto Investment Plan (CIP) is at your service. Here you can invest in any of your crypto in easy weekly instalments. Therefore, start investing in Bitcoin & other cryptos with Crypto Investment Plan now!


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to .
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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