• Stacks price analysis: Bullish momentum propels STX to $2.20, a 7% increase

  • According to the Stacks price analysis, bullish momentum is driving the price higher every day. The recent bullish wave has improved prospects for STX/USD, as the crypto pair has gained significant value since November 19th, when the bulls took over the price function and began to elevate the price level by raising the bar every time.

    However, there has been no significant bearish impediment seen as the bulls continue to rally high on a daily basis. Hourly corrections have been observed, but they have not impacted the daily uptrend. The next level of resistance for STX/USD is at $2.29. Support for the coin, on the other hand, is present at the $2.04 level, just above the psychological mark of $2.

    STX/USD 1-day price chart: Bulls make a 7% gain.

    The 1-day price chart for Stacks price analysis shows that a price increase has been observed today, as today is the fourth consecutive day that the price has been rising. At the time of writing, the price had risen to $2.20, with a further increase possible. The crypto pair has gained 7.40 percent in value over the last 24 hours, but it has lost 5.4 percent in the last seven days. Over the last 24 hours, trading volume has increased by 183 percent, resulting in a 0.11 percent market dominance. The market capitalization has increased by 6.23 percent.

    On the 4-hour chart, volatility is high, with the upper Bollinger band at $2.24 representing resistance for the cryptocurrency and the mean average at $2.10 representing support. The moving average is trading $2.15 lower than the price level. The RSI shows an almost straight curve trading at index 56, indicating balanced buying and selling activities with a slight inclination towards the buying side, which is a hopeful sign for further upward movement.

    Conclusion of the Stacks Price Analysis

    According to the Stacks price analysis, the coin is covering its range upwards, indicating that bullish momentum is strong. The 4-hour price function also suggests that prices will rise further. If the bullish trend continues, the STX/USD may come under selling pressure at the $2.24 resistance level. If the selling pressure becomes too much and the price falls, STX will look for support near the $2.10 support zone.

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