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- Stacks Price has fallen from the rising wedge and is trading with strong downtrend momentum over the daily price chart.
- STX crypto asset have declined below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of STX/BTC is at 0.00002025 BTC with an intraday drop of 1.53%.
Stacks price is trying to retain its position inside the rising wedge pattern over the daily price chart. The token has been trading inside the rising wedge channel but STX bulls failed to sustain at the lower trendline and the token fell below the pattern. STX coin currently falters to gain support at the lower level and is currently declining. STX investors need to wait until the token gains support from the lower levels. However, the token has lost around 1.95% of its market cap in the last 24-hour period. Moreover, STX coin has been trading inside the price range of $0.38 and $0.41 in the last 24-hour period. The token needs to accumulate buyers in order to retain its uptrend momentum.
Stacks pricing is currently trading at $0.39 and has decreased its market value by 1.95% over the past 24 hours. The intraday trading session saw a tremendous change in volume by 30% . This demonstrates that the recovery of STX coin from the rising wedge has been stopped and the token now falters to gain support. The market cap to volume ratio is 0.04207.
STX coin price can be observed falling behind the rising wedge pattern. However, STX bulls still hold the chance of letting the token survive and recover back inside the rising wedge pattern over the daily price chart. Nevertheless, volume change is still below average and needs to grow in favor of STX bulls to let the token survive. Meanwhile, STX crypto asset have declined below 20, 50, 100 and 200-days Daily Moving Average.
Support on the lower end is at $0.37 and resistance on the higher side is at $0.45.
Will STX Bulls Accumulate this time?
STX coin price is trying to regain the required uptrend momentum over the daily price chart. STX coin has fallen below the rising channel and is currently trading with strong downtrend momentum over the daily price chart. Technical indicators suggest the downtrend momentum of STX coin.
Relative Strength Index showcases the bearish momentum of STX coin. RSI is at 43 and STX investors can expect any directional change upto 40. MACD exhibits the downtrend momentum of STX coin. The MACD line is approaching the signal line for a negative crossover. STX bulls need to wait for the accumulation and also for any directional change over the daily price chart.
Conclusion
Stacks price is trying to retain its position inside the rising wedge pattern over the daily price chart. The token has been trading inside the rising wedge channel but STX bulls failed to sustain at the lower trendline and the token fell below the pattern. STX coin currently falters to gain support at the lower level and is currently declining. STX investors need to wait until the token gains support from the lower levels. Nevertheless, volume change is still below average and needs to grow in favor of STX bulls to let the token survive. Technical indicators suggest the downtrend momentum of STX coin. RSI is at 43 and STX investors can expect any directional change upto 40. STX bulls need to wait for the accumulation and also for any directional change over the daily price chart.
Technical levels
Support Levels: $0.37 and $0.30
Resistance Levels: $0.45 and $0.50
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
