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Stacks Price Analysis: Indicators Suggest STX May Drop 20%

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Source: STX/USDT on TradingView

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.

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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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Stacks

Stacks price analysis: Bullish drive stimulates price movement above $2.34 level

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  • Price has heightened up to $2.35.
  • Stacks price analysis shows positive trend.
  • Support is profoundly strong at $1.763.

The latest Stacks price analysis is showing signs of an uptrend as the bulls have been leading the game for the past few weeks. The STX/USD price has improved to a great extent with the help of constant support from the buyers’ side. The cryptocurrency has been following an upward trend quite consistently and even today a rise in price has been reported. The bulls have succeeded in taking the price to the $2.35 mark.

STX/USD 1-day price chart: Bullish impulse results in price climbing above $2.34

The one-day Stacks price analysis is showing relatively positive results for the cryptocurrency today. The market has been dominated by the bulls as the past two weeks have also seen a remarkable improvement in the cryptocurrency’s overall value. Today, the price took an upturn once again and has reached the $2.35 position. It is quite higher than the moving average (MA) height, as its value is at $2.182 stand.

Stacks price analysis: Bullish drive stimulates price movement above $2.34 level 1

A crossover between SMA 20 curve and the SMA 50 curve was recorded in the prior week as well which is yet another bullish sign. The upper Bollinger band value has thus increased to $2.375 whereas the lower Bollinger band value has gone down to $1.763. The Relative Strength Index (RSI) score is significantly close to the over-bought limit and is currently 61.80.

Stacks price analysis: Negative trend expected as bears seize momentary control

The four hours Stacks price analysis is dictating a sudden drop in price which is a dangerous sign for the buyers. The price has dropped down to the $2.346 low as a result of the latest bearish strike. Although the bulls were progressing quite swiftly in the earlier hours, the last four hours brought devaluation in price. Nonetheless, the price is still standing higher than the moving average value i.e. $2.315 as the bulls were going stronger in the earlier part of the day.

Stacks price analysis: Bullish drive stimulates price movement above $2.34 level 2
STX/USD 4-hours price chart. Source: TradingView

The volatility has increased which means a further downtrend is to follow in the approaching hours as well. This is why the upper Bollinger band value has now shifted to $2.42 while the lower Bollinger band value is now $2.11. The RSI curve is moving in the descending direction as well and the score has moved down to 57.18.

Stacks price analysis: Bullish drive stimulates price movement above $2.34 level 3
STX/USD technical indicators chart. Source: TradingView

The past few months have brought favorable circumstances for the STX/USD value, as a strong rise in price was observed. This is why the technical indicators chart for STX/USD is indicating a bullish trend. There are 16 indicators standing on the buying position, 10 indicators are on the neutral position and zero indicators are on the selling position.

The moving averages indicator is giving out a strong bullish indication as well. There are 14 indicators present on the buying position, one indicator is on the neutral position while zero indicators are on the selling position. The Oscillators are showing a positive trend as well as with nine indicators on a neutral level, two indicators on buying level, and zero indicators on the selling level.

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Stacks price analysis conclusion

The bulls have been ruling the market for the past two weeks, and today’s trend has been no different as the price increased up to $2.35 level. The bullish wave has outlasted the past two weeks because of the constant efforts from the buyers. On the other hand, a decline in price was observed in the last four hours, which means that the coming hours might not be so favorable.

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Stacks price analysis: STX heads down to $2.00 as price takes a downturn

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  • Stacks price analysis is showing price at $2.00.
  • Price is facing decline after the bearish return.
  • Support is still significantly strong at $0.897.

The Stacks price analysis shows STX/USD value has been reduced up to $2.00, as the bears have been trying to avail chances for dominating the price function. The past week had been highly successful for the bulls as there was a constant uptrend. The price managed to break past the $1.911 resistance as well, as the upswing was at its peak. But, the current scenario is not so supportive for the cryptocurrency as the price is undergoing a gradual decline.

STX/USD 1-day price chart: Price drops below $2.00 after bears hinder bullish movement

The price is going down once again according to the one-day Stacks price analysis. The bearish momentum is coming back and the price has been decreased up to the $2.00 level in the last 24-hours. Although the price has been advancing quite consistently since the past week, today’s trend has been relatively unfavorable. The moving average indicator is showing its value at $1.583, which is quite lower than the current price.

Stacks price analysis: STX heads down to $2.00 as price takes a downturn 1

The Bollinger bands Indicator is maintaining its average at $1.404, while its upper value is resting at $1.911 and the lower value is at $0.897. The Relative Strength Index (RSI) score is 75.50, which is going beyond the over-bought range. This is further confirming the uptrend that has been following since the past week.

Stacks price analysis: STX price dives down to $2.00 after bullish momentum decelerates

The four hours Stack price analysis is showing signs of bearish momentum as the price has dropped down to $2.00. Generally, the last few hours proved crucial for the cryptocurrency as the price covered the downwards range at a persistent rate. Now the price levels have receded back to their formal position. The moving average is higher than the price and is standing at $2.07 at present.

Stacks price analysis: STX heads down to $2.00 as price takes a downturn 2
STX/USD 4-hours price chart. Source: TradingView

The volatility has been increasing which means that further decline in the price may slow down but is still quite high. The upper and lower values of the Bollinger bands have changed as well. The upper band is now at $2.37 position while the lower band is at $1.51. Also, the RSI score has moved down to 63.4 as well because of the bearish trend.

Stacks price analysis: STX heads down to $2.00 as price takes a downturn 3
STX/USD technical indicators chart. Source: TradingView

The overall progression of the price has been quite considerable during the past few days, as can be deduced from the technical indicators chart. There is a bullish indication as there are 14 indicators settled on the buying mark, seven indicators on the neutral mark, and only five indicators on the selling mark.

The moving averages indicator is also dictating a rise in price with a strong bullish signal. There are 13 indicators standing on the buying position while one indicator each is present on the selling and neutral positions. The Oscillators, on the other hand, are indicating a decline in price with four indicators on the selling point, six on the neutral point, and only one indicator on the buying point.

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Stacks price analysis conclusion

The price is following downward movement again as the bearish candlesticks are reappearing on the price charts. Both the hourly and daily predictions are confirming a decline in price, as it has been reduced up to $2.00. However, chances of recovery are still there as the support is standing resolutely at the $0.897 level.

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Stacks Price Analysis: STX Coin Price May Test The 100MA Support Soon

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  • Stacks coin price is currently seeing a downtrend on the daily chart and can hit the lower support soon. .In contrast ,Stacks price has observed a gain of more than 5% in the past 24 hours
  • Technical Indicators of the STX price suggests a downside momentum in price for the future. Meanwhile, STX/BTC pair is up by more than 4.8% in the intraday session

Why To Invest In STX Coin?

STX coin price is currently in a downtrend on the daily chart and can soon test the $1 support. Stacks price is trading near the value of $1.44 and has seen a gain of more than 4% in the intraday session.The platform  is trying to bring the smart contracts and decentralized apps on the BTC network which can convert it into a powerful layer-1 block chain solution. 

Stacks project was conceived in 2013 with the help of different venture capitalists. STX is  looking to take what makes Bitcoin so powerful, and extend it with more features, without needing to fork or change the original Bitcoin blockchain. STX/BTC pair is observing an uptrend and can soon see a new high. One can invest in STX as per their risk capacity and price action.

Technical Indicators Of STX Coin Price Suggests A Downtrend For The Future

Source: Trading view

Stacks coin price is currently seeing a consolidated momentum on the weekly technical chart and can soon hit a new low. It has seen a loss of more than 1.8% in the weekly time frame.

On the daily technical chart the bullish momentum of STX has come to a halt. The resistance of the STX while going upwards can be seen near $2.  In contrast one can contemplate the bounceback region near $1 .

The price is moving  above 50 and100 Daily Moving Average, with a positive crossover in the past. The 100MA line is near $1.27, acting as a temporary support zone. STX price has formed a bearish pattern on the daily chart. If the price goes 15% below the current level then a strong can be observed. STX/BTC pair can also observe new highs in the future.

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Conclusion

STX  price is currently in a slump but can soon revert to uptrend. STX/BTC pair can also see a new high in the future.An Investor should do their due diligence before investing.

Technical Levels

Major Support:$1

Major Resistance:$2

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