Stacks Price Analysis: Indicators Suggest STX May Drop 20%

• The STX price is increasing upwardly, around 1.4%, during the intraday trading session.
• The 24-hour trading volume is at $59 million.
• STX/BTC pair is also trading positive by 1.4% at 0.00003097 BTC.

Daily technical chart and STX price is showing an upward trend. Based on the pivot level, the initial support level is 1.20 USD. From another perspective, if it accelerates, the resistance level to watch is 1.80 USD. Although the chart created a shooting star candlestick pattern during the day, the price is expected to be downwards with medium reliability.

Ichimoku Cloud is composed of lead-1 and lead-2, and the displacement value is 1. It operates as a pivot level and leading indicator of asset price changes. Investors can see that the price breaks above the Red Moku Cloud and now trades above the Green Moku Cloud, so the cost is above the Green Moku Cloud, ensuring the positive trend of Stacks.

Trading volume (3.46 M) is below the 20-day moving average (5.41 M). In short, the moderate volume of transactions caused the price to struggle around the pivot zone. Investors may also notice that the volume bars on the chart are declining, which indicates that surprising volatility is expected in the next trading days.

The RSI indicator gave a (neutral) signal with 47, projecting a sideways movement of the coin. Investors may observe an inclining slope from 43 to 47. It may surge in future trading sessions.

STX Price Plummets 10% Within a Week

Stacks prices today are $ 1.44 with a 24-hour trading volume of $ 59,784,794. STX prices have risen 1.4% in the last 24 hours. It has a net worth of 1.1 billion STX coins and a total of 1.82 billion shares. The RSI indicator shows a cold sign, and the traders have led to moderate volume. Technically, the price sustains around the pivot zones and continues in a consolidation. Accordingly, as with the overall market viewpoint, the trend remains bearish for upcoming trading sessions.

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