Stacks

Stacks ($STX) 20% pump over the past 24 hours took it beyond the $1.61 resistance level. This revealed the massive bullish strength on the $STX uptrend after twice suffering a price rejection at the $1.61 level over the past week.As of the time of writing, $STX was trading at $1.70 on the four-hour timeframe. Following the break of the resistance level, STX could reach $2 in the near term.<h3 id="price-prediction-another-15-pump-could-see-stx-reach-2">Price Prediction: Another 15% pump could see STX reach $2</h3>Analyzing $STX price action on the four-hour timeframe highlighted the consistent bullish uptrend. With the bullish trendline acting as a dynamic support level, $STX has registered significant gains over the past three weeks.With the resistance level flipped to support, buyers can attempt to drive the price toward $2. A good entry point for traders will be a retest of the new support at $1.61. This will produce a 15% risk-to-reward with the next resistance level at $1.94.The Moving Average Convergence Divergence (MACD) indicator noted the buying momentum with a bullish crossover in the last 12 hours. This along with green histogram bars above the zero level signaled a sustained uptrend could materialize in the short term.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/2ef60757d81b48c7861eb4899b7b6339.png" />STX/USDT on TradingViewSimilarly, the Relative Strength Index (RSI) which is used to track price momentum echoed the bullish momentum with a reading of 57, above the neutral 50 mark.Thus, the price prediction for the short term remains bullish if price stays above the current support level. A bearish candle below the support level could signal a shift in momentum and traders should closely track $STX’s price action if the price remains at this key support level.

Stacks ($STX) Rises by 20%; is the Breakout Headed to $2?

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