Issued on: 20th July’23
Valid upto: 30th July’23
Token: STX
Category: Layer 2 blockchain protocol
Market Cap: $891,565,053
Circulating Supply: 1,392,086,219
Total Supply: 1,818,000,000
Price Update:
STX price at the time of writing (20th July, 13:20) is $0.6402, with a 24-hour trading volume decreased by 30.79% to $22,804,829. STX price is up by 0.68% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
Trade STX in Futures Market at CoinDCX
Analyzing the above chart:
- STX has been demonstrating strong & bullish price action on higher timeframes.
- Following a bullish rally, STX corrected & has reached a support level at the 0.618 Fibonacci level($0.6247) and the 200-day exponential moving average (EMA). This indicates anticipation for STX to experience an upward movement from this point onwards.
- STX is expected to encounter resistance at the Fibonacci levels of 0.5($0.7558) and 0.382($0.8861), above its current position.
- A Long Trading strategy can be assessed between $0.6295-$0.6402 with an invalidation below $0.6067
- On the upside, one can see a rise of 35-40% toward $0.6775,$0.7558 & $0.8790. (valid for 10 days)
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: STX is now available in the futures market in both Go and Pro apps with up to 15x leverage.
LAST 30 DAYS ANALYSIS SUMMARY:
| DATE | TOKEN | STRATEGY
(Long/Short) |
TOKEN RETURN% | TOKEN RETURN %
(with 8x leverage) |
BTC RETURN% |
| 19-Jun | SUI | Long | 13.77% | 110.16% | 10.93% |
| 20-June | AVAX | Long | 12.29% | 98.31% | 11.50% |
| 23-June | IMX | Long | 6.77% | 54.16% | 1.97% |
| 27-June | CFX | Long | -3.99% | -31.90% | -1.65% |
| 29-June | AAVE | Long | 26.89% | 215.09% | 0.21% |
| 29-June | MTL | Long | 11.97% | 95.80% | 1.77% |
| 30-June | ETH | Long | (not considered) | – | – |
| 04-July | FTM | Long | -5.93% | -47.44% | -2.94% |
| 04-July | LRC | Long | -5.33% | -42.64% | -4.02% |
| 05-July | APT | Long | -3.72% | -29.76% | -2.22% |
| 06-July | SOL | Long | 30.59% | 244.72% | 2.69% |
| 11-July | MATIC | Long | 13.69% | 109.52% | 3.77% |
| 12-July | DOT | Long | 9.87% | 78.96% | 1.82% |
| AVERAGE RETURN | 8.91% | 71.25% | 1.99% | ||
| SUCCESS RATE | 62% |
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