STX Weekly Analysis Feb 4

STX is maintaining its downward trend structure with a weak performance, dropping nearly 8% on a weekly basis; critical support levels are being tested, but Bitcoin’s bearish momentum requires additional caution for altcoins. The market structure mandates focus on the $0.2837 support and $0.3221 resistance, which will determine the next direction.

STX in the Weekly Market Summary

STX declined from around $0.33 to the $0.29 level last week, experiencing an 8.01% loss, and the trading range narrowed, squeezing into the $0.29-$0.33 band. The volume profile remained at a moderate $58.43M level, but momentum indicators (RSI 45.34) show a bearish bias in the neutral zone. The MACD histogram is negative and the price remains below EMA20 ($0.30), confirming the short-term trend as bearish. In the bigger picture, STX is moving within a long-term downtrend; the market is moving away from the accumulation phase, giving potential distribution signals. For position traders, monitoring support/resistance confluences with data from STX Spot Analysis this week is critically important. There is no significant news flow in the macro context, but movements correlated with Bitcoin’s 4.45% drop dominate.

Trend Structure and Market Phases

Long-Term Trend Analysis

The market structure clearly shows that STX is maintaining its long-term downtrend; the price is in a bearish position on the main trend filter, and $0.38 resistance forms a strong ceiling. On higher timeframes (weekly/monthly), lower highs and lower lows confirm the trend’s strength. Trading below EMA20 reinforces bearish momentum, and from a market cycle perspective, STX is signaling a transition from correction phase to a full bear market. This structure puts the “short bias until trend breaks” principle front and center for position traders; aggressive long positions will remain risky until the $0.2837 support is broken.

Accumulation/Distribution Analysis

Volume profile and price action are losing accumulation phase characteristics in recent weeks, pointing to distribution patterns. High-volume rejections around $0.33 reflect potential smart money sales; as POC (Point of Control) levels shift lower, delta divergences confirm bearish pressure. If the pullback to supports continues without testing $0.3221 resistance, the distribution phase could fully activate. Conversely, a high-volume hold at $0.2837 could create an opportunity for accumulation renewal, but the current setup appears low probability.

Multi-Timeframe Confluence

Daily Chart View

On the daily chart, STX is in consolidation covering 6 of 13 strong levels (3S/3R); the price is squeezed in a bearish channel below EMA20 at $0.29. RSI around 45 is not approaching oversold, and the MACD negative histogram is widening. Critical confluence at $0.3034 (62/100) and $0.2837 (76/100) supports; a breakdown below accelerates downside. When integrated with STX Futures Analysis data, funding rates show negative bias supporting short positions.

Weekly Chart View

From a weekly perspective, a heavier resistance cluster dominates (2S/4R); the price is in the downtrend channel with lower highs, and $0.3491-$0.3221 resistances create strong blockages. The trend structure is solid, but $0.2608-$0.2347 supports could function as a long-term floor. Multi-timeframe confluence shows daily bearish signals aligning with weekly; this makes a “patience is key” approach mandatory for position traders – wait for breakouts instead of rushed longs.

Critical Decision Points

Main supports: $0.2837 (76/100, high-confluence major support), $0.2608 (65/100), $0.2347 (70/100). A break of these levels carries downside risk to $0.1400 (22 score). Resistances: $0.3221 (79/100, first hurdle), $0.3491 (66/100), $0.3034 (62/100). Trend structure remains intact above $0.2837; bearish acceleration expected below. Upside objective $0.4371 (45 score) but distant with current momentum. When calculated from strategic targets, R/R ratio offers short setups with 1:3+ potential. Follow all levels on the STX and other analyses page.

Weekly Strategy Recommendation

Bullish Case

If $0.3221 resistance breaks with weekly close confirmation, long positions can be entered; first target $0.3491, extension $0.4371. Stop-loss below $0.2837, limit position size to 1-2% risk. This scenario, if supported by BTC stabilization, signals a transition to accumulation phase; however, low probability (despite current bearish confluence).

Bearish Case

If $0.2837 support breaks, short bias dominates; targets $0.2608, $0.2347, and $0.1400. Stop above $0.3221, optimize R/R at 1:4+. If distribution patterns strengthen, ideal short opportunity for position traders; synergizes with BTC downtrend. In both scenarios, volume confirmation with STX Spot Analysis is mandatory.

Bitcoin Correlation

BTC down 4.45% at $73,729 in downtrend; key supports $72,946, $61,211 to watch. STX highly correlated with BTC (BTC Supertrend bearish across altcoins), so if BTC fails $75,484 resistance, expect additional pressure on STX. BTC dominance rise delays altcoin rotation; $72,946 break could lead STX to $0.2347. If BTC stabilizes, STX could gain relative strength – prioritize weekly BTC levels.

Conclusion: Key Points for Next Week

Next week focus: $0.2837 support test and $0.3221 resistance challenge. BTC $72,946-$75,484 range will determine STX direction; high chance of range-bound without volume increase. Position traders should stick to risk management by waiting for breakouts – seek confluence over early entries. With long-term downtrend intact, patience provides strategic edge. Follow all updates on STX and other analyses.