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- Stacks coin price is currently seeing a downtrend on the daily chart and can hit the lower support soon. .In contrast ,Stacks price has observed a gain of more than 5% in the past 24 hours
- Technical Indicators of the STX price suggests a downside momentum in price for the future. Meanwhile, STX/BTC pair is up by more than 4.8% in the intraday session
Why To Invest In STX Coin?
STX coin price is currently in a downtrend on the daily chart and can soon test the $1 support. Stacks price is trading near the value of $1.44 and has seen a gain of more than 4% in the intraday session.The platform is trying to bring the smart contracts and decentralized apps on the BTC network which can convert it into a powerful layer-1 block chain solution.
Stacks project was conceived in 2013 with the help of different venture capitalists. STX is looking to take what makes Bitcoin so powerful, and extend it with more features, without needing to fork or change the original Bitcoin blockchain. STX/BTC pair is observing an uptrend and can soon see a new high. One can invest in STX as per their risk capacity and price action.
Technical Indicators Of STX Coin Price Suggests A Downtrend For The Future
Stacks coin price is currently seeing a consolidated momentum on the weekly technical chart and can soon hit a new low. It has seen a loss of more than 1.8% in the weekly time frame.
On the daily technical chart the bullish momentum of STX has come to a halt. The resistance of the STX while going upwards can be seen near $2. In contrast one can contemplate the bounceback region near $1 .
The price is moving above 50 and100 Daily Moving Average, with a positive crossover in the past. The 100MA line is near $1.27, acting as a temporary support zone. STX price has formed a bearish pattern on the daily chart. If the price goes 15% below the current level then a strong can be observed. STX/BTC pair can also observe new highs in the future.
Conclusion
STX price is currently in a slump but can soon revert to uptrend. STX/BTC pair can also see a new high in the future.An Investor should do their due diligence before investing.
Technical Levels
Major Support:$1
Major Resistance:$2
