CoinDesk reports:
If the market can keep the coin above the resistance level of $1.77, price predictions for Stacks could trigger a bull market.
Stacks Prediction Data:
Stacks price now – $1.77
Stacks market cap – $2.48 billion
Stacks circulating supply – 1.46 billion
Stacks total supply – 1.8 billion
Stacks CoinMarketCap ranking – 35th
STX/USD Market
Key Levels:
Resistance levels: $2.50, $2.70, $2.90
Support levels: $1.00, $0.80, $0.60
STXUSD – Daily Chart
STX/USD is moving long above the resistance level of $1.59, with a price increase of 11.65%. With a slight upward trend in the coin, Stacks’ price may experience a slight pullback before continuing to rise. At the same time, if the bulls keep the coin above the 9-day moving average, traders can expect the price to continue rising.
Stacks Price Prediction: STX/USD Likely to Rise
The price of Stacks is approaching around $1.77, the 21-day moving average. If the price continues to show a bullish trend, traders can expect the bull market to continue upward. Additionally, the 9-day moving average may need to cross above the 21-day moving average to increase the bullish trend, with possible resistance levels at $2.50, $2.70, and $2.90 in the long term.
Furthermore, if the coin maintains its bullish trend in the coming days, traders may see more coins reaching higher levels. Currently, Stacks’ price is attempting to form a bullish trend in the short term, but any bearish trend below the channel’s lower limit could push the coin to support levels at $1.00, $0.80, and $0.60.
STX/BTC Likely to Fall Below Daily Highs
Compared to Bitcoin, as long as Bitcoin stays within the 9-day and 21-day moving averages, the price of Stacks will move towards the lower boundary of the channel. According to the daily chart, it is necessary to increase volume and resistance to trigger market excitement. Currently, the trading price of Stacks (STX) is around 2791 SAT, but if the coin moves south, traders expect support at 2000 SAT and below.
Despite this, if the bull market pushes the price above the upper limit of the channel, then traders can confirm a bull market for the coin. Additionally, the closest resistance levels may be at 3900 SAT and above, as the 9-day moving average may cross above the 21-day moving average, indicating a bull market within the channel.
Meanwhile, @0xENAS on X (formerly Twitter) shared with his over 50,000 followers the news of a significant price increase for $STX. He believes Stacks is on the edge of a multi-timeframe alt reversal to the upside, emphasizing that its chart is one of the cleanest charts currently. The delayed Taproot upgrade is finally set to take place next month, laying the foundation for a strong rally. Those who were shaken out early in the bull market now have a clear setup for a strong rebound. With tight stop-losses, the expected value of these early narrative bets is very high. He suggests stopping below $1.50, but if not, it’s time to adjust trading and take advantage of this opportunity.