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 $1.80 mark. The follow-on buying action signifies positive sentiments.</p> <iframe loading="lazy" title="Santiment Chart: Price (STX), Volume (STX)" width="800" height="425" src="https://embed.santiment.net/chart?ps=blockstack&amp;pt=STX&amp;df=2024-01-11T18%3A29%3A59.291Z&amp;dt=2024-07-11T18%3A29%3A59.291Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>The RSI curve flipped from the oversold region, noted at around 48, closed the midline region and made a positive crossover.</p> 
<h2 class="wp-block-heading" id="h-social-dominance-and-weighted-sentiment-data-insights">Social Dominance and Weighted Sentiment Data Insights</h2> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (STX), Social Dominance (STX), Total NFT Trades Count" width="800" height="425" src="https://embed.santiment.net/chart?ps=blockstack&amp;pt=STX&amp;df=2024-01-11T18%3A29%3A59.291Z&amp;dt=2024-07-11T18%3A29%3A59.291Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_volume_consumed_total%3Bsocial_dominance_total%3Bnft_trades_count&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Weighted sentiment data remained in the negative territory, noted at -0.424, reflecting low investors confidence for the token. Likewise, the total NFT trades count was noted at 1.</p> 
<p>Per the Fib levels, the token was heading toward the 38.2% zone and stayed close to the mid bollinger band region. @Worldofcharts in his tweet mentioned that STX has completed its correction phase and is looking attractive here.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24Stx&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$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>
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<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?

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