Stacks

Million

Pace

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Stacks (STX) crypto has slipped to the make or break zone near the $2 mark.</a> </li> 
 <li> <span>2</span> <a>The price action showcased indecisiveness between bulls and bears.</a> </li> 
</ul>  
<p><strong>STX coin price</strong> continued to drag gains and has reached the 200 day EMA mark. However, the concern is the slippage below the round mark of $2.</p> 
<p>This price action revealed the selling pressure from the top and buyers have yet to regain momentum. Meanwhile, the coin hovers near the make or break zone of $2 and sharp volatile moves are displayed.</p> 
<p>At press time, <strong>STX</strong> traded at $1.99 with an intraday drop of 4.10%, reflecting neutrality on the charts. It has a monthly return ratio of -12.90% and 156.29% yearly.</p> 
<p>The pair of STX/BTC is at 0.0000297 BTC, and the market cap is $2.91 Billion. Analysts are neutral and suggest that the <strong>STX price</strong> may face a volatile move ahead.</p> 
<h2 class="wp-block-heading" id="strong-will-stacks-stx-gain-pace-amidst-downtrend-strong"><strong>Will Stacks (STX) Gain Pace Amidst Downtrend?</strong></h2> 
<p>For weeks, <strong>STX coin </strong>traded in a downtrend and lost over 40% of gains last month. In addition, the coin slipped below its key moving averages, signifying bearishness.</p> 
<p>Going forward, the sellers have an edge and showed their dominance. A break and close below the $2 mark would validate the further down move ahead. Conversely, if the bearish wave ends, and the coin succeeds to cross the $2.50 mark, it would trigger short covering and may rebound ahead.</p> <iframe loading="lazy" title="Santiment Chart: Price (STX), Volume (STX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=singularitynet&amp;pt=AGIX&amp;df=2023-11-19T18%3A29%3A59.840Z&amp;dt=2024-05-19T18%3A29%3A59.840Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bblockstack%3BSTX%5D%3B%5B1%3Bvolume_usd%3Bblockstack%3BSTX%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p class="has-text-align-center">Source: Santiment</p> 
<p>Moreover, the trading volume signifies sharp decline and no significant volume buying was seen. The intraday volume dropped over 53.27% to $46.04 Million.</p> 
<p>Ranked at 39, STX coin has a total supply of 1.82 Billion and the market cap has dropped over 2.38% to $2.91 Billion.&nbsp;</p> 
<p>The Relative Strength Index (RSI) curve stayed in the oversold region and shows a negative divergence, revealing the downtrend on the charts.</p> 
<h3 class="wp-block-heading" id="strong-stacks-stx-reveal-sharp-volatile-moves-strong"><strong>Stacks (STX) Reveal Sharp Volatile Moves</strong></h3> 
<p>Following the price drop, the <strong>STX coin </strong>displayed intense volatility and the bull army looked trapped. Investors have looked in fear and unwindied their long positions, resulting in the follow on decline over the past few weeks.</p> 
<p>This week, price volatility witnessed a spike over 33% and then declined over 18%, representing massive fluctuations.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (STX), Weighted sentiment (Total) (STX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=singularitynet&amp;pt=AGIX&amp;df=2023-11-19T18%3A29%3A59.840Z&amp;dt=2024-05-19T18%3A29%3A59.840Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bblockstack%3BSTX%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bblockstack%3BSTX%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p class="has-text-align-center">Source: Santiment</p> 
<p>Meanwhile, the sentiments looked negative and are favoring the bear army and the value stayed below the midline representing the <a href="https://www.thecoinrepublic.com/2024/05/17/xrp-flips-from-bottom-could-it-resurface-amid-the-downtrend/" target="_blank" rel="noreferrer noopener">downtrend</a>.</p> 
<h3 class="wp-block-heading" id="strong-futures-data-represent-price-decline-strong"><strong>Futures Data Represent Price Decline</strong></h3> 
<p>Following the downtrend, the sellers have dominated the battle and buyers have persisted in unwinding their long positions.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="237" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-245-1024x237.png" alt="STX" class="wp-image-206160" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-245-1024x237.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-245-300x69.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-245-768x178.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-245-750x174.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-245-1140x264.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-245.png 1412w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div> 
<p class="has-text-align-center">Source: coinglass</p> 
<p>The open interest (OI) data revealed a decline over 5.46% to $80.55 Million in the last 24 hrs, conveying the underperformance of the coin.</p> 
<p>The immediate support levels for <strong>STX</strong> is $1.85 and $1.70 whereas the key upside hurdle is around $2.10, followed by $2.20.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The <strong>Stacks (STX) coin </strong>displayed follow on <strong>selling pressure </strong>and witnessed underperformance on the charts. Meanwhile, the coin has reached the demand zone and may attain a bounce soon.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>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.&nbsp;</p>

Stacks (STX) Retests 200 Day EMA Mark, What’s Next For STX?

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