Stacks Price Analysis: STX Gearing Up for a Massive Rally?


  • Bears control STX’s current price actions.
  • Current Stacks Price is 2.41 dollars
  • Stacks shows bearish momentum over the weekend.
  • The current trading volume of Stacks is at $95,318,245.00.

20 April 2024 : In this article we will walk you through Stacks price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Stacks, Is STX a good investment? Stacks support & resistance levels etc. But before diving deep into the STX technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,312,993,424,699. The total trading volume stands at $75,954,090,751. Bitcoin shares 54.07 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $63,552.90 level after a decline of -2.04%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -2.14 percent reaching to $3,034.27 during the previous 24 hours.
While publishing this blog, BNB traded at $553.86, following a price change of -1.01%within the same time frame. SOL the native coin of Solana is down by -2.5 and currently trading at $140.40. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Stacks Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Stacks (STX)

STX Resistance Levels STX Support Levels
Resistance Level 1 $0.32 Support Level 1 $0.29
Resistance Level 2 $0.33 Support Level 2 $0.27
Resistance Level 3 $0.35 Support Level 3 $0.26

Stacks Performance

The current Stacks price is $2.41, with a trading volume of $95,318,245.00 in the past 24-hours. Currently, STX is down by -2.11% since yesterday with a market capitalization of $3,506,917,745.00 USD.

Stacks Price Analysis

STX price analysis for 20 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Stacks.

Moving Averages Price Indicator
Simple Moving Average (10) 0.31 Buy
Exponential Moving Average (10) 0.31 Buy
Simple Moving Average (20) 0.32 Buy
Exponential Moving Average (20) 0.32 Buy
Simple Moving Average (50) 0.34 Buy
Exponential Moving Average (50) 0.34 Buy

The MACD line is standing below of the signal line after a crossover. Stacks investors need to wait for any directional change over the daily chart. While STX’s Williams %R indicator is at -61.263 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. RSI implying near oversold phase while trading at 36 and is trying to break out of the bearish zone.

Conclusions

As of now, Stacks is not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the STX move into the positive zone. In 2022 and beyond, the Stacks price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.