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- 1 The STX price glimpses bullish waves and is close to the breakout region of $3.50.
- 2 The Buyers are showing their dominance and eyeing the $5 mark.
The Stacks coin (STX) price revealed a notable surge of over 13%, delivering bullish waves on the charts. Moreover, the price action signifies a sharp rebound from the 50-day EMA, and a huge bullish marubozu candlestick was noted on the charts. Additionally, the coin has made a fresh all-time high and is trading in uncharted territory. If bulls succeed in crossing the mark, a much-awaited breakout will be seen, and the coin may rally toward $5 soon.
At press time, the Stacks coin (STX) price was trading at $3.36 with an intraday gain of 12.80%, reflecting buying momentum on the charts. It has a monthly return ratio of 26.67% and 197.89% on a yearly basis. The pair of STX/BTC is at 0.0000498 BTC, and the market cap is $3.08 billion. Analysts are bullish and suggest the STX coin may continue to stretch the bullish move and reach $5 soon.
Stacks Price-to-Volume Profile Reveals Bullishness
The above chart shows the price-to-volume profile data, which reveals the buying momentum. Amidst the market downturn, the coin has persisted in attaining gains and revealing an uptick on the charts. The intraday trading volume surged over 13% to $429.87 million.
The Relative Strength Index (RSI) curve stayed in the overbought zone, forming a positive divergence on the charts. Moreover, the coin has sustained above the 61.8% Fibonacci retracement zone and has given outperformance for the past sessions.
Price Volatility and Sentiment Analysis
The chart depicts combined data on volatility and total weighted sentiment. Following the price surge, the volatility remained average and showed a nominal move, revealing a consistent buying movement. The volatility curve was noted at 0.027, whereas the weighted sentiment data showcased neutrality, and the value remained in the positive zone close to 0.623.
Social Dominance and X (Twitter) Activity Overview
Per the Santiment data, the coin revealed a steady move in the social dominance data. The value remained near 0.197%, signifying low investor activity on social media platforms over the past few weeks. The X followers’ data noted a consistent surge, and the value rose to 179k.
What Does Open Interest Data Showcase?
The derivative data indicates a sharp increase in the open interest of over 28.75% to $217.52 million, signifying the long buildup activity in the previous 24 hours. Additionally, this incremental move led sellers into trouble, and the coin may skyrocket toward the $4 mark soon.
The market cap of the Stacks coin (STX) was noted at $3.08 billion, revealing a decline of over 1.20% this week. The total supply of the STX coin is 1.35 billion.
Summary
The Stacks coin price has reached its all-time high trajectory and is decisively holding the gains. Moreover, the coin trades above the key moving averages and has given an impressive up move for the past weeks.
Technical Levels
Support Levels: $3.00 and $2.70
Resistance Levels: $3.60 and $4
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
