agi
Blog

Stacks Price Analysis: Will STX Price Shoot Up to $1 Soon?

single-image
  • The price of STX is trading at $0.859.
  • The STX price increased by +4.79% in the last 24 hours.
  • The STX year-to-date return is +311.79%.

Weekly Trend Analyzation

This week the trend was bullish as the price was up by 76.72%. We can say that STX is performing well by direction and price information history. 

All-Time History Analyzation

The coin’s value surged by more than 190% in all-time history, giving good returns to the investors’ money. 

In 1-D Timeframe

Stacks Price Analysis
Source:  STX/USD.1D.KRAKEN by TradingView

Trendline Analyzation

As per the trendline, it respected multiple support and rejection very well, taking exactly from the drawn trendline on the chart. Recently it formed a commonly seen pattern which is a bullish flag pattern, and it gave a breakout from the upper trendline on which it was taking rejection. Still, eventually, the resistance was destroyed by the bulls, and recently we observed good momentum upward. Therefore, we can keep that the price can climb up even further soon. It can reach $0.996 or  $1 soon, the nearest significant resistance.

Supertrend

This indicator works well with the help of just two parameters: period and multiplier. At period value 20 and multiplier value 2, it shows the continuous trend if it’s bullish or bearish. As shown in the chart, it’s bullish.

MACD

As we can see in the chart, the blue line or MACD line crossed the signal line from below while making a bullish crossover. This indicates a bullish trend signal. This highlights that the trend may continue upward.

EMA 

The price is going up on the 1D chart. It is above the 50, 100 & 200 EMA (exponential moving average), supporting the trend upwards. The buyers are more robust than the sellers, showing buyers are ready to buy at every price. The price has to go down and stay below the 50, 100 & 200 EMA to change the direction. Also, the price remained above 20 EMA, which gives quite an idea that buyers are ready to buy the stock at every cost, which is a good sign.

Bollinger Band

In the Bollinger Band indicator, Stacks coin price trades at the upper band. After taking support from the 20-day Simple Moving Average (SMA) of the Bollinger Bands, it indicates a more upward move.

Stacks
Source: STX/USD.1D.KRAKEN by TradingView

Volume Analyzation

The amount of STX traded in a day is $313169484. The trading activity is comparatively good in STX now because the market is favorable, and the presence of buyers for the coin has also increased significantly. Therefore, it can push the price up due to the considerable volume present in the market. 

Conclusion

The STX coin price, as per the price action, is bullish. As of the writing day, the technical parameters indicate bullish pressure in the upcoming trading days. Presently, the sentiments of investors and traders are bullish.

Technical Levels:

  • The Nearest Support Zone is $0.996.
  • The Nearest Resistance Zone is $0.418.

Disclaimer

In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Leave a Comment

Your email address will not be published.

You may also like