$STX
$STX (Stacks) Bullish Momentum – Breakout Loading? 🚀
Analysis:
$STX is showing strong strength today, up by over 9%. Looking at the 1-hour chart, the price is currently testing the upper boundary of the Bollinger Bands, indicating high buying pressure.
Key Technical Levels:
Resistance: The immediate hurdle is at $0.3720. A solid breakout and candle close above this level could clear the path for a move toward $0.40+.
Support: If we see a minor pullback, strong support is sitting at $0.3525 (Middle Band) and $0.3420.
Indicators: RSI is around 65, which means there is still room for growth before hitting the "Overbought" zone. The KDJ is also showing a fresh upward curve.
Trading Strategy:
Bullish Scenario: Look for a confirmed breakout above $0.3720 for a long entry.
Conservative Scenario: Wait for a retest of the $0.3520 support level to buy the dip.
Caution: Keep an eye on BTC movement as it often dictates the direction for Layer 2 projects like Stacks. Always use a Stop Loss!
What’s your take? Is STX headed to $0.40 today or will it reject here? Let’s discuss in the comments! 👇
#STX #Stacks #CryptoTrading #TechnicalAnalysis #BinanceSquare Family #Layer2