Home
News
•STX/USD is currently priced at $0.56 and has increased by 6.43% over the last day
•The technical indicators are showing signs of recovery in the near term
•The trading volumes have increased by a mammoth 124.31% over the past day
Short Term View: A big question mark still hovers around Stacks
The Stacks price today is $0.561741 USD with a 24-hour trading volume of $19,267,997 USD. Stacks is up 6.43% in the last 24 hours. The trading volumes have increased over the past day whereas the Volume to Market Cap Ratio stands at 0.02609 for the altcoin.
The bearish sentiment took a toll on Stacks Price which contributed to major selling pressure in the crypto asset in the past few days. The bulls have, however, entered the fray once again as is indicated by today’s price action. There is still the threat of bears looming large around the altcoin as the STX Price has moved above the 20,50 SMA on the four-hour chart. If the uptrend continues, the Stacks would likely encounter resistance at $0.60 which would be a major boost for the bulls. On the flip side, the support for the asset is placed at $0.45 in the event of the bears staging a comeback.
Long Term View for STX
Today’s price action has seen a considerable amount of inflow into Stacks crypto as is demonstrated by the technical indicators. The RSI has climbed out of the oversold territory from yesterday amid a spike in buying activity. The metric is currently standing at 36.84. The MACD indicator, on the other hand, shows the presence of green histograms on the daily chart which has occurred as a result of a bullish crossover. However, a bearish cloud still hovers over the altcoin as the MACD and signal lines are transacting in the negative zone.
Conclusion
The STX bulls have endeavored to take matters into their own hands today as the Stacks Price action has provided some respite to the investors. It remains to be seen how the future plays out for the asset as the market continues to recover from the recent setback.
Support: $0.45-$0.40
Resistance: $0.60-$0.75
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
ALSO READ: Everything You Need to Know about the Ethereum Community Conference 5!
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
