Stacks

World

Spike

<p><strong>Stacks price</strong> saw a double digit surge of over 11% and crossed the 20 day EMA mark in the intraday session. The token gained momentum and aggressively revived from its bottom support mark of $1.20.</p> 
<p>Trading in the downward trajectory, the token made a <strong>falling wedge pattern</strong> and rebounded from the lower trendline support. Amidst the market bearish move, <strong>STX </strong>stayed in green throughout the week, reflecting buyer accumulation at the bottom.</p> 
<p>For the past few weeks, the token was in a bearish course and continued to form the lower low swings and retraced over 50%. Amidst multiple attempts, buyers failed to sustain above the 50 day EMA mark and remained below it.</p> 
<p>However, it reached its demand zone and buyers are trying to trigger a reversal soon. Once the token succeeds to cross the $2 mark, a noteworthy rise could be seen ahead.</p> 
<p>At press time, <strong>STX</strong> was trading at $1.64 with an intraday surge of 11.20%, reflecting buying momentum on the chart. It has a monthly return ratio of -28.20% and 143.20% yearly, reflecting short term profit booking.</p> 
<p>The pair of STX/BTC is at 0.0000281 BTC, and the market cap is $2.40 Billion. Analysts are neutral and suggest that the<a href="https://www.thecoinrepublic.com/2024/06/26/stacks-stx-eyeing-a-reversal-could-it-flip-toward-the-2-mark/"> <strong>STX </strong>may break out </a>and cross the $2 mark soon.</p> 
<h2 class="wp-block-heading" id="h-can-stacks-stx-navigate-through-hurdles"><strong>Can Stacks (STX) Navigate Through Hurdles?</strong></h2> 
<p><strong>STX</strong> decisively crossed the 20 day EMA mark and would face an obstacle around its 50 day EMA near $1.80 mark. The follow-on buying action signifies positive sentiments.</p> <iframe loading="lazy" title="Santiment Chart: Price (STX), Volume (STX)" width="800" height="425" src="https://embed.santiment.net/chart?ps=blockstack&amp;pt=STX&amp;df=2024-01-11T18%3A29%3A59.291Z&amp;dt=2024-07-11T18%3A29%3A59.291Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>The RSI curve flipped from the oversold region, noted at around 48, closed the midline region and made a positive crossover.</p> 
<h2 class="wp-block-heading" id="h-social-dominance-and-weighted-sentiment-data-insights">Social Dominance and Weighted Sentiment Data Insights</h2> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (STX), Social Dominance (STX), Total NFT Trades Count" width="800" height="425" src="https://embed.santiment.net/chart?ps=blockstack&amp;pt=STX&amp;df=2024-01-11T18%3A29%3A59.291Z&amp;dt=2024-07-11T18%3A29%3A59.291Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_volume_consumed_total%3Bsocial_dominance_total%3Bnft_trades_count&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Weighted sentiment data remained in the negative territory, noted at -0.424, reflecting low investors confidence for the token. Likewise, the total NFT trades count was noted at 1.</p> 
<p>Per the Fib levels, the token was heading toward the 38.2% zone and stayed close to the mid bollinger band region. @Worldofcharts in his tweet mentioned that STX has completed its correction phase and is looking attractive here.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24Stx&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Stx</a><br><br>Looks Attractive Here After Healthy Correction Looks Ready For Another Bullish Wave Over All Consolidating In Descending Channel ( On Lower Timeframe Breaking Falling Wedge Too Expecting 2x Bullish Wave Incase Of Successful Breakout <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Stx?src=hash&amp;ref_src=twsrc%5Etfw">#Stx</a> <a href="https://twitter.com/hashtag/Stacks?src=hash&amp;ref_src=twsrc%5Etfw">#Stacks</a> <a href="https://t.co/ae7KZZJ8hk">pic.twitter.com/ae7KZZJ8hk</a></p>— World Of Charts (@WorldOfCharts1) <a href="https://twitter.com/WorldOfCharts1/status/1810996265871671743?ref_src=twsrc%5Etfw">July 10, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Meanwhile, if the hurdle $1.80 persists, the token may retest the pattern’s lower trendline mark of $1.20 ahead. While the token succeeds in crossing the $1.80 mark, the <strong>pullback retest </strong>and confirmed reversal could set <strong>STX </strong>to zoom toward the $2 mark shortly.</p> 
<h2 class="wp-block-heading" id="h-sharp-spike-in-open-interest-data"><strong>Sharp Spike in Open Interest Data</strong></h2> 
<p>Following the price surge of over 12%, the open interest data rose over 66% to $77.10 Million, signifying sharp long additions in the last 24 hours.</p> <iframe loading="lazy" title="Santiment Chart: Percent of Stablecoin Total Supply held by Whales with more than 5 million USD, Total Open Interest in USD (STX)" width="800" height="425" src="https://embed.santiment.net/chart?ps=blockstack&amp;pt=STX&amp;df=2024-01-11T18%3A29%3A59.291Z&amp;dt=2024-07-11T18%3A29%3A59.291Z&amp;emcg=1&amp;emhwm=1&amp;wm=percent_of_whale_stablecoin_total_supply%3Btotal_open_interest&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>Moreover, the percent of total supply held by the whales data revealed a consistent upmove, noted around 57.20, which signifies the positive sentiment among its holders.</p> 
<p>The immediate support levels for the <strong>Stacks token</strong> are $1.80 and $1.30, whereas the key upside hurdle is around $2.40, followed by $3</p> 
<h2 class="wp-block-heading" id="h-reversal-on-cards">Reversal on Cards?</h2> 
<p>The <strong>STX token price </strong>climbed above the 20-day EMA mark and is trying to reach the $2 mark. However, the buyers need to gain further traction to revert the gains. Once it climbs above the 50 day EMA mark, a short covering move would be triggered ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/12/stacks-revived-over-20-this-week-aggression-or-stray-move/">Stacks Revived Over 20% This Week: Aggression Or Stray Move?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Stacks Revived Over 20% This Week: Aggression Or Stray Move?

Table of Contents

Thecoinrepublic.com

Other articles published on Jul 12, 2024

Aset Kripto di Tengah Anomali Pasca Rilis Data CPI dan Potensi The Fed Pangkas Suku Bunga di Sept...

With a $57.6M Presale, BlockDAG Draws a Renowned Crypto Expert’s Eye While Toncoin TVL and Render...

Wells Fargo Reports Net Interest Income Decline in Q2, Shares Dip

Experts Tip Clandeno (CLD) to Explode Amid Revolutionary Transaction Tech, ICO Now Available as B...

Why MANTRA Price Surged Today

Ripple (XRP) Poised for Bull Run as Falling Wedge Pattern Hints at Potential Breakout

Join our free newsletter for daily crypto updates!