- Stacks Price prediction suggests a rise in the long term due to strong uptrend.
- STX price is sustained above the 50 and 200 day EMA showcase uptrend.
- Stacks crypto struggles to sustain the price above $1.00.
Stacks Price Prediction is bullish for the long term and prices might gain momentum in coming months. STX price had displayed a golden crossover and prices are still sustaining above the 50 and 200 day EMA. It showcases that positional as well as short term trend are working in the upward direction.
Stacks crypto bulls have tried a lot to hold the $1.00 support level but failed. It indicates that bears are active in the supply zone and $1.3094 will be acting as a strong hurdle in the coming months. Stacks Price trading at $0.8496 with an intraday decline of -2.00% and 24 hour volume to market cap ratio at 0.041. At the beginning of March, STX price witnessed minor profit booking from the supply zone and prices reverted in downward direction.
However, the downfall was temporary and STX Price took support near $0.5000 and bounced back with a higher momentum. Later, Stacks Price continued to rise upward and breakout of its previous swing high at $1.00 which created a positive hope for the long term investors. However, the prices failed to give the follow up momentum and began to consolidate on the higher levels.
Will Stacks Price regain the $1.00 mark?
Stacks Price faced resistance near $1.3000 and took the opposite direction. Slow and steady, prices declined by forming lower low swings. Presently, Stacks Price is again taking support near the 50 day EMA. If the overall market sentiment remains bullish then prices might again try to bounce back to retest the previous highs.
On the other hand, if the price drops below $0.7766 then bears may try to drag the price further down toward $0.5000. The technical analysis suggests, Stacks price is in uptrend and till the price sustains 200 day EMA the possibility of rebound is high.
STX Price downside seems limited
STX price is down by -3.35% and forming a long tail bearish pattern on a weekly time frame. However, The Stacks price is near the support zone and downside seems to be limited. Stacks price had performed well in the past 2 months and might enter into the wide range of consolidation.
The technical indicators like MACD had generated a negative crossover indicates mild bearishness. The RSI at 45 sloping downward denotes prices might test the oversold territory in the coming days.
Conclusion
Stacks Price Prediction is bullish for the long term till price is sustaining above the $0.5000 level. STX price struggles to hold the $1.00 market and might trade with bearish bias for the short term period. The technical analysis suggests, Stacks price is trading above both the EMAs shows uptrend. Therefore, minor dips will have a high probability of bouncing back from lower levels.
Technical levels
Resistance levels : $1.3094 and $1.5000
Support levels : $0.7766 and $0.5000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.