The Stacks (STX) price has seen a minor correction since reaching its yearly high in March. The weekly relative strength index (RSI) gives an undetermined reading, indicating an unclear outlook. However, technical analysis from the daily time frame suggests that the STX price could be nearing the end of its correction. A five-wave upward movement (black) has been identified, which appears to have ended at the 0.618 Fib retracement support level. This reading, along with a Fibonacci retracement of the most recent price drop, suggests that the price of STX could soon resume its upward trajectory and target levels of between $1.15 and $1.70. Should the STX price fall below the wave one high of $0.38, however, a decrease to around $0.22 could follow.
Ethan Garcia
- 2023-05-04
STX Price Correction Analysis
The STX (Stacks) price has seen a minor correction since reaching its yearly high in March. Technical analysis from the daily time frame hints that the STX price could soon resume its upward trajectory, targeting levels of between $1.15 and $1.70.
