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- STX token price rose about 40% from the previous support level within two days.
- The climbing EMAs with a positive slope implies bullish crossovers soon.
- The pair STX/BTC is trading at 0.00004173 BTC with an intraday gain of +16.22%.
The price of STX coins has risen significantly in the last 24 hours as it has retested the $1 resistance level. With an intraday jump of 15%, the price has surged about 40% back up from this level.
All of the critical EMAs are below their token prices, the sign of a strong bull run. The EMAs have a positive slope and may soon produce many bullish crossovers.
The STX token price currently trades at $140 with a +15.01% increase in market cap over the last 24 hours. The intraday trading volume has seen a +83.68% increase in coin price.
The increasing intraday profit margins and rising intraday trading volume indicate that buyers are growing, which could soon cause the price to increase even more.
What makes Stacks so unique?
Stacks aims to take the best parts of Bitcoin and add additional functionality without having to fork or alter the original Bitcoin blockchain.
It is done by connecting directly to the Bitcoin blockchain via its proof-of-transfer (PoX consensus mechanism. Miners pay in Bitcoin to create new Stacks tokens (STX). STX token holders can stack (not stake) their tokens and earn Bitcoin as a reward.
Bulls driving The STX Token Price Higher To Hit The $1.5 Mark.
The STX token price moved higher following the formation of a long tail near the $0.57 support level. As a result, the coin price has surpassed all critical EMAs and the opposition from the $1.25 supply.
The coin price is higher than the 200 EMA in the 4-hour timeframe. Therefore, the bullish crossover signal was also given by the 200 and 100 4-hour EMAs.
Bullish RSI indicates a growing bullish momentum. The RSI line spikes and approaches the overbought zone.
The ADX indicates a rising trend.
Conclusion – STX Token price has breached the $1.25 mark and may soon reach the $1.5 mark. However, Investors with bullish sentiments hoping the price to hit the $2 mark must wait patiently for the token price to sustain above the $1.5 mark.
Support- $1.0
Resistance-$1.5 and $2
