Stacks Price Prediction 2022: STX Coin is Consolidating in The Wide Range for the Enormous Move

• Stacks Coin’s price is trading positively by 8.69% during the range-bound market.
• Over the last 24-hours, trading volume has jumped by 854%, from $million to $533 million.
• STX/BTC pair price is trading in the green zone by 9.97% at $0.00005242 BTC.

After hitting an all-time high level, STX coin has been consolidating in the wide range for more than four months. Once Coin attempted to breach this pattern to the upside, but investors failed on it. At the last trading session, Investors again tried to sustain Coin’s above this range, but bears came into existence and ate all gain of Coin.

Live data of STX coin shows strength by 8.69% at $2.19 at the time of writing. Over the last 24-hours, trading volume has jumped 859% to $533 million. At last trading, the session market indicates the highly volatile day for the traders. STX/BTC pair price is trading in the green zone by 9.97% at $0.00005242 BTC. The same as the STX/ETH pair price supports the investors, which is positive by 11.61% at 0.0007046 ETH. Currently, Stacks Coin has 0.15% market dominance in the whole cryptocurrency, and the Volume /Market Cap ratio is 0.1856.

Before the horizontal sideways territory, stacks coin obeyed the ascending wedge chart pattern and went into range-bound. Looking at the current market scenario, STX coin is preparing for a significant trend: it will be bullish or bearish.

Will Stacks Coin mark a new high?

Stacks Coin is testing the vital moving Averages (including 20,50, and 100MAs ) as a support level in the daily time frame. Currently, Coin is trading above this Moving Averages and Coin may breach this MAs soon; if Coin breaches this, then 200 MA will be following a crucial support Level.

RSI considers 42 levels crucial support for the RSI Indicator during the range-bound market. Now it is 49.5 mark, indicating the descending chart pattern, which is gradually getting narrow; if RSI breaches the 42 mark, then it may dip in oversold territory. On the flip side, MACD generated a bullish crossover in the last trading session. RSI and MACD may create a bit of confusion for the traders.

In the 4-hours time, frame Stacks price action indicates the head and shoulder formation. This chart pattern makes investors nervous; if holders successfully sustain STX above the neckline of a chart pattern of $1.772, then buying may happen. On the other hand, if Coin breaks down this border, then Coin may reach $1.109 key mark

Conclusion 

Stacks Coin moves anywhere because recently if it retest near its ATH level. If the Coin falls down from the box pattern, then $1.109 will be the critical support base for investors; on the other hand, if Coin breaks the upper range of this box, then it may mark fresh ATH.

Resistance level- $2.83

Support level- $1.786 and $1.109

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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