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%.
After trending within a very narrow range from the past couple of days. The STX price broke above the consolidation and rose by more than 6% since the early trading hours. After rising high a significant chance of a correction or pullback is much expected in the next couple of hours.
|Short-Term||The price rises above the accumulation and currently appears exhausted and hence a minor pullback expected|
|Mid-Term||STX price is slowing rising high, trying to prevent pullbacks and hence $1.18 levels appear achievable soon|
|Long-Term||The asset after bottoming hard attempts a flip, yet the rebound is not validated yet as the bears still are pretty active|
Additional Read: Top Crypto News Today, 9 March 2022.
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||74.25 / 40.5||Buy / Sell|
|MACD(12,26)||0.015 / -0.090||Buy / Sell|
|Average Directional Index(ADX)||35.4 / 37.6||Buy / Sell|
|Bull-Bear Power||0.05 / -0.12||Buy/ Sell|
|Average True Range(ATR)||0.0129||0.08|
The Stacks(STX) price is extremely bullish in the short-term while mostly bearish in the long term. Also, the price has surpassed the 50-day MA levels indicating the ignition of the bullish trend. However, a pretty long way to go to validate the uptrend as the local resistance and the 200-day MA levels in STF are pretty distinct.
Yet the asset is less volatile therefore a slow and steady rise may be expected further. Once the price settles beyond $1.5, a constant uptrend may be imminent. But the long term is extremely bearish and hence a cautious move needs to be carried out.
Additional Read: What is Stacks (STX)?
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