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- 1 Stacks crypto price is currently trading at $1.0432 with a drop of 4.43% in the last 24 hours with a current market cap of $1.489 Billion.
- 2 The crypto is trading above the key moving averages.
Stacks (STX) price is gaining momentum and broke above the 20, 50, 100, and 200-day EMAs, highlighting bullishness in the last few trading sessions. The chart also shows a breakout from the $0.7486 zone, with its neckline breached post a sharp rally.
The crypto has recently tested the demand zone near $0.8000 multiple times, finding support and bouncing back. Buyers have regained their strength and are aiming for the $1.2580 level in the next sessions.
The chart structure shows volatile movement in the previous months, with the crypto facing rejections from the supply range of $1.25. The lower levels near $0.8000 acted as a support region, and the crypto bounced from there, making the price trade in a narrow range.
Furthermore, the crypto’s trajectory shows that beyond $1.25, the zone is bullish, and a rally could be seen. But, if further rejection takes place, then the crypto will continue to trade in the congestion zone. Similarly, below $0.7927, bearishness could be extended.
At press time, Stacks crypto was trading at $1.0432 with an intraday minor loss of 4.43% breaking below the 200-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume is 184.403 Million.
Technical Analysis of Stacks Crypto Price in 1-D Timeframe
Currently, Stacks crypto (USD: STX) is trading above the 50 and 200-day DMAs (Daily moving averages), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Stacks price is expected to move upward giving bullish views over the daily time frame chart.
The current value of RSI is 60.86 points. The 14 SMA is above the median line at 65.88 points which indicates that the Stacks crypto is bullish.
The MACD line at 0.0891 and the signal line at 0.0877 are above the zero line. MACD indicator signals strength in the momentum of the STX crypto price.
Short-Time Horizon Analysis
Stacks crypto has shown sellers’ strength, and profit booking in the crypto was noted on the short-term charts. Moreover, the price traded above the key EMAs, which shows further strength in the crypto. The RSI curve is near the oversold region at 54, and a negative outlook was noted, indicating bearishness in the crypto. The MACD indicator also persisted to form green bars, and a bullish crossover was noted, which signals bullish moves.
Summary
Stacks (USD: STX) technical oscillators also support the bullish trend. MACD, RSI, and EMA all demonstrate positive signals, suggesting that the uptrend is likely to continue. On the 1-day time frame, price action suggests investors and traders are bullish. There is a bullish perspective reflected in the price action at the moment.
Technical Levels
Support Levels: 0.9844.
Resistance Levels: 1.2580.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.