Technical Analysis Crypto

Stacks(STX) Technical Analysis: STX Price Feared to Lose $1

Stacks (STX) Technical Analysis

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

TA

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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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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