Stacks

Coin

<ul>
 <li>STX outperformed every other cryptocurrency in the top 50 and rose above the $1 threshold.</li>
 <li>The token was overbought, but the support at $0.83 could prevent it from plunging.&nbsp;</li>
 <li>If BTC reclaims $42,000, STX’s potential retracement may not last long.</li>
</ul>
The price of <a href="https://coinedition.com/analyst-expects-stacks-stx-to-fly-if-it-can-break-0-80/" rel="noopener noreferrer nofollow">Stacks (STX)</a> increased by 40.64% in the last 24 hours as the broader market rally continued to hold. STX’s price was $1.20 at the time of writing, CoinMarketCap data revealed. This value represents a 90.53% hike in the last seven days, making it the 43rd most valuable cryptocurrency per market cap and the best performer out of the top 50.
<div class="wp-block-image">
 <figure class="aligncenter">
 <img src="https://lh7-us.googleusercontent.com/WC87oQjHzIsEVSKMbeEg6YPA5LFSQPAgUvn3672WZn49ZiTvx13SwFgTmDlXK2JzG8gFgtGCl4YY58qLQDkgI1u7pXGXtVx6_AObR2PAtvSwlHM62FxTxork0PwCc8dnhRpgDCOIUWKllCpfJg6IrsU" alt="">
 <figcaption>
 STX 7-Day Performance (Source: <a href="https://coinmarketcap.com/currencies/stacks/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
 </figcaption>
 </figure>
</div>
<h2 class="wp-block-heading" id="h-stx-price-analysis">STX Price Analysis</h2>
An assessment of STX’s technical side showed that there is a strong wave of <a href="https://coinedition.com/altcoins-are-waking-up-following-growth-in-bitcoin-fundamentals/" rel="noopener noreferrer nofollow">bullish sentiment</a>. This optimism was also followed by a surge in volatility, based on indications from the Bollinger Bands (BB).
While there was support at $0.76 and $0.83, STX risked ruining the gains of current holders. This is because the upper band of the BB touched the STX price at $1.19. A position of this nature is considered overbought.
So, there is a possibility of STX dropping below $1. That is, if profit…
The post <a href="https://coinedition.com/stacks-stx-rises-40-becomes-top-gainer-out-of-top-50-coins/" rel="noopener noreferrer nofollow">Stacks (STX) Rises 40%, Becomes Top Gainer Out of Top 50 Coins</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Stacks (STX) Rises 40%, Becomes Top Gainer Out of Top 50 Coins

Table of Contents

Coin Edition

Other articles published on Dec 5, 2023

Join our free newsletter for daily crypto updates!