Home
News
- 1 STX crypto signifies strong buying momentum and is in an uptrend.
- 2 Buyers are showcasing their dominance and have persisted in lifting gains.
Stacks price (STX) witnessed a massive jump with strong momentum showcasing higher-high structures on the charts. The trend is bullish and buyers are uplifting the gains with intense volume buying. From the beginning of 2024, the STX coin has persisted in extending the up move and has surged over 120%. Amidst the market downturn, the STX crypto remained the buyers’ favorite with positive buying inflows noted this month.
At press time, the Stacks coin (STX) price was trading at $3.56 with an intraday gain of 4.67%, reflecting bullishness on the charts. It has a monthly return ratio of 18.90% and 256.65% on a yearly basis. The pair of STX/BTC is at 0.0000510 BTC, and the market cap is $3.27 Billion. Analysts are bullish and suggest that STX price will continue to rise and may catch the upside mark of $5 mark soon.
Stacks Price To Volume Profile Delivers Bullish Momentum
The above data showcased the price to volume profile of the Stacks coin, where the buyers are showcasing their muscles and continue to lift the gains. The intraday trading volume remained average and jumped over 6.80% to $108.41 Million.
The Relative Strength Index (RSI) curve stayed in the overbought zone and formed a positive divergence signifies bullishness on the charts.
Price Volatility and Sentiment Remained Average
Amidst the price rise, the volatility remained below average and revealed a decline over 75% to 0.016. Similarly, the weighted sentiment remained negative and the value stands at -0.842.
Social Dominance and Social Volume AI Overview
Per the Santiment data, the social dominance reflected a steady movement and is noted around 0.23% indicating average investor interest and activity on the social media platforms. However, the social volume AI dragged over 110% to 6 this week.
What Does Open Interest and Whale Activity Indicate?
Per the above chart, the derivative data signifies short covering while the coin continues to rise. The open interest noted a decline of over 0.80% to $139.80 Million. However, the percent of stablecoins total supply held by the whales activity reached 54.30.
The total supply of the Stacks coin is 1.35 billion and the volume to market cap ratio is 0.0332. Per the market cap, the STX crypto ranked at 40 in the global crypto market.
Per the Fib retracement levels, the STX coin is trading above the 61.8% zone and is eyeing the 78.6% level near $4. Moreover, the trend is intact and further short covering rally will be continued to watch in the next sessions.
Summary
The Stacks coin delivered outperformance and has skyrocketed gains over 52% this month, revealing the bulls dominance. Moreover, the coin is trading in the uncharted territory and further upliftment toward the $5 mark is anticipated.
Technical Levels
Support Levels: $3.10 and $2.80
Resistance Levels: $4 and $4.30
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
