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
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 |
Pivot Levels
Pivot Levels | Short-Term | Long-term |
Moving Average(MA)-50 | $1.06 | $1.39 |
Moving Average(MA)-200 | $1.14 | $1.78 |
Resistance | $1.138 | $2.4 |
Support | $1.048 | $0.79 |
Oscillators
Oscillators | Short-Term | Long-Term |
Stochastic Oscillator | 83.07 | 24.1 |
Ultimate Oscillator | 69.01 | 42.6 |
Average True Range(ATR) | 0.0129 | 0.08 |
CCI | 121.3 | -62.56 |
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)?
Source: Tradingview
Source: Tradingview
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