 token’s market cap value was $2.253 Billion, which made it the 32nd largest cryptocurrency in the world.){kind=link}
MD: Explore the recent surge in the Stacks (STX) token price as it breaks above key levels, signaling potential new highs.
- Stacks token price has advanced by 3280% from its all-time low price.
- STX token had 81% of its total supply in circulation.
The market cap of the Stacks token was trading flat, and a slight increase of 7.6% was witnessed in the last 24 hours.
Following the market cap surge, the token’s traded volume value also advanced by 23%. This resulted in a traded value of $94.317M, which was 4.18% of the market cap. It exhibited medium liquidity in the token price.
The Stacks token’s market cap value was $2.253 Billion, which made it the 32nd largest cryptocurrency in the world. This further resulted in a market cap dominance of 0.10%, and the token’s price volatility was also high.
The token’s circulating supply was 1.481 Billion STX, which was 81.50%of the token’s maximum supply. The total token supply was 1.818 Billion STX, similar to the maximum. Additionally, the token’s fully diluted market cap was $2.762 Billion.
The Stacks token sentiment was neutral, while the fear and greed index was at 30. This represented fear among the token’s investors, resulting in strong profit booking.
Stacks Token Blockchain Data Overview
At press time, 67% of the Stacks token holders were in profit, while 28% witnessed a loss.
The total value locked for the Stacks token had declined to $84.52M in the last few weeks. This was followed by a decline in the token price over time. Despite this, a surge of 53% in the token’s trading volume was recorded.
The token’s social dominance witnessed huge advances in the last few days as the number of Reddit subscribers advanced to 9.65K. Furthermore, its total Twitter followers reached 200.87K.
STX Token Technical Analysis
The STX token’s recent price action has demonstrated a bullish shift, breaking above its most recent swing low. After reaching a swing high of $3.8460, the price began to decline, leading to a lower low on the chart.
This downward movement eventually created a dynamic falling wedge, a classic bullish reversal pattern. Typically, such a pattern indicates the potential for an upward trend once the price breaks through the wedge’s resistance line.
With strong momentum, the STX token has managed to break out above this pattern, signaling a continuation of the bullish trend. The price has since taken support at the breakout levels, suggesting that the former resistance has now become a support level.
This development reinforced the possibility of sustained upward movement in the STX token’s price, as indicated by the recent bullish price action.
Stacks Token Technical Indicator Analysis
The STX token price traded below the 50-day and the 200-day EMAs, and both the EMAs traded in a death cross. This exhibited a bearish trend in the token price, followed by the last few week’s price action.
STX/USD Chart by TradingView
The MACD and the signal line overlapped, followed by the metrics trading in the negative trajectory. The RSI also declined to the oversold zones a few days ago and traded below 50 at press time.
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 research before making any financial decisions.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.