- STX Token price increases more than 70% within the past two weeks.
- The price action indicates the STX coin price climbing higher on the pivot levels with increasing bullish pressure.
- The pair of STX/BTC is trading at 0.00003839 BTC with an intraday gain of +4.66%.
STX coin price approaches the solid resistance near the $2.50 mark in the daily chart. Furthermore, the coin price action forms multiple bullish engulfing candlesticks in the past week.
As per pivot points analysis, the resistance levels for the token are residing at $2.5 and $2.75 marks. Therefore, if the price takes a bearish reversal, sellers may find opposition at $2 or $1.65.
The STX Token price trades at $2.17, increasing 2.78% in market capitalization over the past 24 hours. However, the intraday trading volume has increased by 135% in the past day, indicating a rise in buyers.
STX Token In The 4-hour Chart
STX token price action indicates a bull run within the rising channel pattern in the 4-hour chart. Moreover, the price jump is coupled with an increased trading volume. Thus, a bull run is plausible if the price sustains above the central line.
In a bullish structure, the EMAs for the 4-hour technical Chart rise in a bullish structure. It could therefore support prices against a bearish attack. The dips to the 50-period EMA are also considered entry opportunities.
The RSI indicator predicts a surge in underlying bullishness when the slope rises to the territory of overbought.
The ADX indicator indicates a rising trend, which is indicative of high momentum.
MACD indicators on the daily chart show that signal lines and MACD are moving higher than the neutral area. Thus, it indicates bullish momentum for the token price.
Conclusion – From a technical perspective, the short-term trend for STX Coin is bullish. The current chart shows a positive outlook. It may even break the $ mark soon. Thus, Crypto traders can expect bullish opportunities, but they should wait for a confirmed breakout.
Support – $2 or $1.65
Resistance – $2.5 and $2.75