Convergence

Stacks

Divergence

The post <a href="https://coinpedia.org/uncategorized/stacks-price-erases-all-its-gains-stx-price-to-experience-a-correction-of-15-soon/">Stacks Price Erases All Its Gains! STX Price To Experience A Correction Of 15% Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
After recording a positive jump of over 15% over the past day, the Stacks coin price has recorded a correction of over 13% within the last 24 hours, making it one of the top losers of the day in the crypto industry.&nbsp; 
The <a href="https://coinpedia.org/price-prediction/stacks-stx-price-prediction/">Stacks price</a> traded in a closed range between $0.9749 and $1.1411 for over a week, following which the market gained momentum and the price broke out of the range. The STX coin price experienced a minor pullback at the resistance level of $1.2972. 
However, the bulls held the price strong, resulting in the price experiencing a jump of over 31% in its valuation. After this, the price traded sideways in a closed range between $1.2972 as its support and $1.4890 as its resistance level for a while. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/h-s_nrdntsHrrLNveYlrOTFR6lLyNS5U48VGim2kvdVJOeK-hPudgpV6gKsAOnkFqs17zA3Onxo1fiX1vWbzXRdv2kf8tRWzGJpz-Sb2VP1Fd0uPpCRe2g1TFmU0Ida3O38ZJFtdYzXr4vFP_nTR60U" alt="Stacks Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: STX/USDT
 </figcaption>
</figure> 
The STX bulls attempted to break out of the range but faced rejection at the resistance level of $1.7472, resulting in the price experiencing a pullback in its value. Following this, the price continued to trade sideways for a while. 
After multiple attempts, the Stacks bulls gained enough momentum to hold the price above its resistance level of $1.4980. Later the resistance level acted as a support level for the coin with its new resistance level at $1.7472, where the price traded sideways for about a week. 
Recently, the price regained momentum and jumped over 27%. The rally was, however, short-lived as the price faced rejection at $2.0336, following which the price faced a correction of roughly 13%, resulting in the price raising all its gains from the recent price pump. 
Positively, the Cross EMA 50-day acts as a dynamic support to the price chart, indicating a high possibility of a positive trend reversal in the coming time. 
<h2 class="wp-block-heading" id="h-will-stx-price-regain-value">Will STX Price Regain Value?</h2> 
The Moving Average Convergence Divergence (MACD) displays a rising red histogram, indicating massive ongoing selling pressure for the coin. Moreover, the averages show a constant fall in the chart, suggesting a bear power in the space. 
If the bulls hold the price above the support level of $1.7472, the STX price will regain momentum and prepare to test its resistance level of $1.890 soon. Further, if the market holds the price at that level, the Stacks price will rise and prepare to test its upper resistance level of $2.0336 by the week ahead. 
Conversely, if the bears overpowered the bulls, the STX price will continue falling and prepare to test its support level of $1.4980. Moreover, if a trend reversal occurs, the crypto coin will plunge and prepare to test its lower support level of $1.2972 in the coming time.

Stacks Price Erases All Its Gains! STX Price To Experience A Correction Of 15% Soon?

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