Stacks (STX) recorded significant gains in December and January. Volatility increased last month after Bitcoin (BTC) faced strong selling pressure that pushed the price back. This forced STX to give up some of its recent gains.
STX’de Yükseliş Beklentileri
The new increase in demand has caused prices to rise in the last 24 hours. Sentiment also favors buyers, with Stacks targeting $2.45 going forward. According to analysts, the STX market structure may show a strong bullish trend on the daily chart. The Relative Strength Index (RSI) is also above 50, a neutral level that could signal the first bullish momentum since mid-November.
After bouncing back from the $0.69 resistance level, the rally accelerated rapidly in December. This has increased significantly due to the impact of OBV’s high purchasing volume. At the time of this writing, OBV continues to rise, indicating widespread buying pressure. This may indicate that the upward trend may continue.
Resistance Level in STX
The situation presented represents a resistance zone that has been going on for the last two weeks and has been breached in the last few hours. Therefore, a retest of this area could be a good buying opportunity. On January 3, CVD points began to decrease. Open interest showed a downward trend from January 5 to January 7. STX price also fell during this period, showing a strong downtrend in the short term.
Spot CVD began to increase significantly and OI increased by over $30 million. The price of the cryptocurrency rose rapidly and reached $2. This could be a sign that STX could rise significantly, but experts are not ruling out a possible drop to $1.7. In a downtrend, the $2.12 and $2.44 levels could prevent the price increase. This is because these were the middle and upper levels of the range in which STX traded from October 2021 to mid-January 2022.
