Stacks

Rally

Bitcoin

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/12/geNq8UVw-e1702929559591.png" class="attachment-full size-full wp-post-image" alt="STX price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Stacks Price Prediction: While the majority of major cryptocurrencies are struggling in uncertainty, the <a href="https://coingape.com/price/stacks/">Stacks price</a> showed a strong bounceback from the combined support of $0.87 and the recently breached triangle. In a week, the coin price has rallied 35% to currently trade at the $1.17 mark. After witnessing a healthy retracement, will the current upswing surpass the $1.3 barrier? 
Also Read: <a href="https://coingape.com/bitcoin-bull-run-at-risk-analyst-flags-concerns-as-network-growth-stalls/">Bitcoin’s Bull Run at Risk? Analyst Warns As Network Growth Stalls</a> 
<h2 id="b-triangle-pattern-sets-a-rally-beyond-1-5-b">Triangle Pattern Sets a Rally Beyond $1.5</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The STX price suitability above $0.9 indicate buyer are accumulating at market dips</li> 
 <li style="font-weight: 400;" aria-level="1">The rising price may face supply pressure at $1.3, followed by $1.5</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the STX is $406.6 Million, indicating a 297% gain</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/g/geNq8UVw.png" alt="Stacks Price Prediction" width="1946" height="1105">
 <figcaption class="wp-caption-text">
 Stacks Price Prediction| TradingView Chart
 </figcaption>
</figure> 
Stacks coin (STX) has been on a path of steady recovery since mid-September, culminating in a significant development on December 4th. This key turning point was marked by the coin’s price breaching the resistance trendline of an elongated <a href="https://coingape.com/glossary/symmetrical-triangle-pattern/">triangle pattern</a> that had been in play for over 21 months. During this period, the price of Stacks coin was confined within two converging trendlines, indicating a prolonged sideways trend. 
The recent bullish breakout from the upper boundary of this triangle pattern is a critical signal, suggesting a shift in market sentiment and the potential for a directional rally. Such breakouts are often interpreted as strong bullish indicators, indicating that the market could be transitioning from a period of uncertainty to a more definitive upward trend. 
<blockquote>
 The latest 10% intraday surge in the price of Stacks coin, accompanied by robust trading volume, can likely be attributed to increased activity on the Stacks network, including a <a href="https://coingape.com/stacks-stx-skyrockets-15-as-stx20-inscription-minting-causes-network-congestion/">surge in transactions</a> amid STX20 inscriptions minting.
</blockquote> 
With sustained buying, the buyers drive the price by 10% to challenge a significant resistance at $1.3.However, under ideal conditions, the predetermined target from the triangle pattern is $1.92, followed by $2.6. 
<h2 id="strong-stx-vs-btc-performance-strong">STX vs BTC Performance</h2> 
<figure id="attachment_170059" aria-describedby="caption-attachment-170059" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-170059" src="https://coingape.com/wp-content/uploads/2023/12/image_2023-12-19_01-19-41-e1702929620372.png" alt="STX vs BTC" width="1200" height="675">
 <figcaption id="caption-attachment-170059" class="wp-caption-text">
 Source: Coingape| Stacks Vs Bitcoin Price
 </figcaption>
</figure> 
In the last two months, Bitcoin and Stacks have shown a sustainable bullish trajectory. However, a keen difference between when the <a href="https://coingape.com/stacks-stx-skyrockets-15-as-stx20-inscription-minting-causes-network-congestion/">Bitcoin price</a> has a gradual growth, while the STX price shows rapid rallies followed by occasional pullbacks is more favorable for pullback strategies. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Directional Moving Index: The increasing spread between the DI+ and DI- slope in a bullish crossover state reflects the bullish trend is intact.</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The 20-and-50-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> continues to stand as strong pullback support.</li> 
</ul> 
The post <a href="https://coingape.com/markets/stacks-price-prediction-will-stx-rally-regain-1-5-by-the-year-end/">Stacks Price Prediction: Will $STX Rally Regain $1.5 By the Year End?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Stacks Price Prediction: Will $STX Rally Regain $1.5 By the Year End?

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