Quack AI
Bitcoin
Lighter
Injective
Pearl
Zcash
Sui
- The Stacks price surpassed the 200-day EMA and is heading for the $100-day EMA.
- The trading volume of STX crypto has increased by 151% in the past 24 hours.
The STX price chart has displayed the bearish momentum from the beginning of April. During this bearish move, the STX price slipped below the 200-day EMA, but buyers were strong enough to lift the price over it.
In a broader time frame, the Stacks crypto price has triggered a pullback and has surpassed the key moving averages. The trending volume has supported the recent buying momentum.
At press time, the Stacks price traded at $2.26 with an intraday gain of 5.19%. The market capitalization is $3.30 Billion, and the 24-hour trading volume is $242.21 Million. The circulating supply is 1,462,751,963 STX, and the total supply is 1,818,000,000 STX.
Volume Surged by 800%; What’s Next?
Based on the given data, the trading volume has surged by 800% in the past 3 days, and the STX price has also correlated. Since March, the trading volume has continuously decreased. Suppose the trading volume increases, the STX crypto price may trigger a breakout from the 100-day EMA, and trend reversal can be possible.
Is the STX Price Ready to Gain 60% Soon?
$STX
— EchoJive (@EchoJive2) June 5, 2024
UPDATE#Stx is ready for a good bullish wave after successful breakout in this move we can see price around 3.200$ ✴️
Maximum chance to gain +60% profit in coming days ✅#STXUSDT #STXBTC #STX #BNB $FTM $AGIX $TAO $ZRX $PIVX $SOL $OCEAN $HIGH pic.twitter.com/SRy8PJOtnd
A source on X suggests that the STX price has formed a falling wedge pattern on a 4-H time frame. It was at the crucial level of breakout at the time of writing. After a successful breakout, the Stacks crypto price is expected to perform positively and might extend to the $3.20 mark.
Will the STX Price Record a New All-time High This Month?
In a daily time frame, the STX crypto price has been in a negative trend, but the price chart has displayed a liquidity grab below the 200-day EMA and bounced back to the 100-day EMA.
The STX price has still not surpassed the 100-day EMA but exceeded the 200-day EMA. The digital asset price is falling by forming lower lows and lower highs, and currently, the price has reached to a lower high swing.
Suppose the price faces resistance from the 100-day EMA and falls, the STX crypto price may form a lower high swing and seek a new lower low. The price below the 200-day EMA could signify a bearish forecast.
On the other hand, if the Stacks price surpasses the 100-day EMA and sustains, the buyers may become confident. The positive change in trading volume may help the price to record a new all-time high.
According to the technical indicators, the RSI is 58 and has generated a bullish crossover. MACD has formed green histograms even in the falling condition. Technical indicators are in favor of bullish momentum.
Conclusion
The recent price movements and trading volumes of the STX crypto indicate a potential bullish trend reversal. The price has surpassed key moving averages, and the trading volume has surged significantly, suggesting increased buying momentum. Technical indicators such as RSI and MACD also signal a potential bullish momentum. If the price manages to sustain above the 100-day EMA and the trading volume continues to increase, it could lead to a new all-time high for STX. However, monitoring the price action closely, especially around the 100-day EMA, is essential to gauge whether the bullish momentum will persist.
Technical Levels
During the bullish trend, the Stacks price may face resistance from $3.00 and $3.75 levels. Alternatively, it is expected to take support on the $1.80 and $1.40 in case of a downtrend.
Disclaimer
This article is for informational purposes only and provides no 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.
