Stacks

Resistance

April

Coin

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>The STX coin bulls made a high of $1.31 in March 2023</a> </li> 
 <li> <span>2</span> <a>The bearish investors have broken major support in 15-minute time frame.</a> </li> 
 <li> <span>3</span> <a>The Price EMAs have done a bearish crossover, see whether the trend will reverse&nbsp;</a> </li> 
</ul> 
<p>STX coin was introduced to the market back in 2019. It serves as a decentralized platform for dApps to use BTC tokens as assets.&nbsp;</p> 
<p>Initially, the value of the coin remained in a deep downtrend, but it saw a surge in February 2023. The bulls caused a significant increase in price, from $0.28 to over 300%, within a single month, and the crypto asset reached a new high of $1.31.</p> 
<p>However, after achieving its year-to-date high in March of the same year, the value of the coin began to decline. It first broke the support level of $0.79 in April 2023, followed by another significant support level of $0.57 in August. The bears finally defeated the bulls who had been trying to maintain the price above this support level since June.</p> 
<h2 class="wp-block-heading" id="strong-present-technical-analysis-of-stx-coin-price-strong"><strong>Present Technical Analysis of STX Coin Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="788" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-596.png" alt="Stacks Price Prediction: Will STX Coin Reach $2 in 2024?&nbsp;" class="wp-image-185299" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-596.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-596-300x148.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-596-1024x504.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-596-768x378.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-596-1536x756.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-596-750x369.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-596-1140x561.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   <a href="https://in.tradingview.com/chart/1SBAxzHq/?symbol=BINANCE%3ASTXUSDT">STX/USDT</a> Chart provided by tradingview.com
  </figcaption>
 </figure>
</div> 
<p>Currently, on the 15-minute time frame, the STX <a href="https://www.thecoinrepublic.com/2023/11/17/osmo-coin-bulls-are-confronting-bears-at-the-resistance-level/" target="_blank" rel="noreferrer noopener">coin price</a> is trading at the level of $1.66 after the Bears broke the immediate support level of $1.43 today. However, the bullish investors haven’t given up; they have taken the support at $1.30, the primary support level.&nbsp;</p> 
<p>After the free fall, the 50-minute EMA has done a bearish crossover with the 150-minute EMA. However, this crossover is expected to be short-lived if the bulls can bounce back from the current support.&nbsp;</p> 
<p>The second resistance level is at $1.66. After the rejection at the immediate resistance level, the bears created a long wick candle. Therefore, this illiquidity is expected to be filled once before the price rejection.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-price-prediction-of-stx-coin-strong"><strong>Price prediction of STX coin</strong></h3> 
<p>Therefore, the expected move for the STX <a href="https://www.thecoinrepublic.com/2023/11/17/osmo-coin-bulls-are-confronting-bears-at-the-resistance-level/" target="_blank" rel="noreferrer noopener">coin price</a> will be bullish from here. The bulls will likely break the immediate resistance level to fill the liquidity. If the bulls keep the price above $1.52, the trend will reverse, and the EMAs will perform a bullish crossover. Otherwise, the bears will likely push the price below the support level of $1.344.&nbsp;</p> 
<p>The RSI, on the other hand, is overcoming the oversold level of 20. It is near the neutral zone of 50 while the Simple moving average line is still at 31. This may trigger a sell-off as the difference between the two is significant&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/vnaic8ZTTH1KG24VrqtHirQFjppdud3KuAnPw-4cCTDGfgTqd1rQ1xnHtiJyidcFn0e7C1l83_Vg-ySdQlzypXkat0mGz9QYYok0j4SkHIKORR5gh5CNFr6k4I4JWJhK55JY-WBxasiWYy4yXCEeKgo" alt="Stacks Price Prediction: Will STX Coin Reach $2 in 2024?&nbsp;">
 </figure>
</div> 
<h4 class="wp-block-heading"><strong>Conclusion</strong>&nbsp;</h4> 
<p>The price of the crypto asset increased significantly from $0.28 to $1.31 within a month but faced resistance and a long wick candle from bears. RSI is moving towards the neutral zone while the Simple moving average line is at 31.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $1.30 and $1.16</li> 
 <li><strong>Resistance Levels:</strong> $1.52 and $1.66</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss</p>

Stacks Price Prediction: Will STX Coin Reach $2 in 2024?

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