In summary, the current price of Stacks (STX) is largely neutral and could be heading towards a bearish crossover indicated by the MACD indicator on a weekly chart. A reaction to the FOMC announcement pushed STX/USD up near $0.82 but the altcoin has resumed its downward trend and is down 4% in the past 24 hours. The main barrier to the upside is likely to be at the Fibonacci retracement level of 23.6%, currently around $0.95, while the first support in case of a drop is expected to be at a long-term horizontal line near $0.45. As such, it is worth keeping an eye on these key technical levels as well as the US market sentiment that is likely to move Stacks price in the coming days.
Alice Taylor
- 2023-05-04
Price Analysis: Stacks (STX) Could be Heading Towards a Bearish Crossover
The current price of Stacks (STX) is largely neutral and could be heading towards a bearish crossover indicated by the MACD indicator on a weekly chart. The main barrier to the upside is likely to be at the Fibonacci retracement level of 23.6%, currently around $0.95. The first support in case of a drop is expected to be at a long-term horizontal line near $0.45.
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