Will STX Crypto Price Reach $5 Level?

STX Crypto is trading in bullish territory above major exponential moving averages, showing bullish momentum. On the daily chart, the Stacks cryptocurrency is moving higher and staying above the 50 and 200-Day EMAs.

The price action suggests that the cryptocurrency is poised for a significant uptrend with a potential price increase in the coming sessions. Bulls are working hard to maintain these levels and show confidence in the crypto’s movement. 

In recent trading sessions, bulls have showcased their strength and also continued buying and accumulating more cryptocurrencies to extend the upward momentum.

Stacks (STXUSD) indicates increased buyer activity in the market. Moreover, the price action is still making higher highs and higher lows on the daily technical chart, signaling that the crypto is bullish and has no intention of slowing down.

The structure of the chart shows that bulls are driving the trend and the crypto is gradually heading towards the $2 mark, which it is likely to reach soon. Additionally, sellers have found themselves in a defensive position after breaking multiple resistance levels above $1.00  with significant gains over the last few trading sessions. Investors and traders are showing strong intent to continue this upward momentum.

At the time of publication, the Stacks cryptocurrency was trading at $1.7377 with an intraday increase of 4.64%, showing an optimistic mood on the chart. It also has a trading volume of $191.18 Million and a market capitalization of $2.50 Billion.

Technical Analysis of Stacks Crypto Price in 1-D Time Frame

Stacks (USD: STX) is currently trading above its 50 and 200-Day simple moving averages (SMA), which support its price momentum.

The current RSI value is 63 points. The 14 SMA is above the center line at 51.76 points, signaling a bullish outlook for Stacks.

The MACD line at 0.0257 and the signal line at 0.0059 are hovering above the zero line. There is a bullish crossover in the MACD indicator, which indicates solid momentum in the price of the STX cryptocurrency.

Summary

Technical oscillators and indicators for STX are confirming the bullish trend on the daily time frame. MACD, RSI, and EMAs are giving positive signals, suggesting that the upward trend in the price of the STX cryptocurrency may resume. Price action signals that investors and traders are positive on a daily technical chart. Price movement mirrors an optimistic outlook. Furthermore, investors and traders must wait to be properly prepared for the next step and avoid FOMO.

Technical Levels

Support Levels: $1.4525 and $1.2580

Resistance Levels: $1.8000 and $2.630

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.