Date: Mon, Jan 06, 2025, 01:52 PM GMT
As the cryptocurrency market kicks off a new week, altcoins are gaining attention, fueled by Bitcoin’s (BTC) steady climb of over 1.66% in the past 24 hours as it edges closer to the monumental $100,000 mark. Among these, Stacks (STX)—the native token of Stacks, a Bitcoin layer—is emerging as a top contender. With impressive weekly gains, $STX is now at the brink of a critical breakout that could define its near-term trajectory.

Source: Coinmarketcap
Technical Setup Suggests a Bullish Scenario
STX is currently trading within a falling wedge pattern on the daily chart—a classic bullish technical formation. Over the past week, STX surged from its lower wedge support at $1.46 to its current price of $1.77, positioning itself just below the upper wedge resistance. This resistance also aligns with a key horizontal resistance zone near $1.83, making this level a pivotal point for the token’s next move.

Stacks (STX) 1D Chart/ Coinsprobe (Source: Tradingview)
If STX can successfully break above this confluence of resistance levels—both the trendline and horizontal zones—it may target its next key levels at $2.63 and $3.02. This represents a potential 67% upside from its current price, offering a promising opportunity for traders and investors.
Key Indicators Support a Bullish Outlook
MACD (Moving Average Convergence Divergence): A bullish crossover is underway, indicating growing positive momentum. The histogram suggests increasing buying pressure, further supporting the bullish case.RSI (Relative Strength Index): Currently hovering near 50, the RSI reflects balanced conditions but hints at a shift toward bullish territory as buying pressure builds. A move above 60 would solidify this bullish momentum.
Conclusion
STX is at a crucial juncture as it tests the upper resistance of its falling wedge pattern. A decisive breakout above the $1.83 level would likely confirm the continuation of its bullish trend and open the door to higher price targets at $2.63 and $3.02.
The broader market environment is also favorable, with Bitcoin dominance dropping below 57%, providing a window for altcoins like STX to shine and rally independently of Bitcoin’s movements.
However, traders should remain cautious. Failure to break above the resistance could lead to a pullback toward the wedge’s support near $1.46. As always, key confirmations and increased volume will be essential to validate the breakout scenario.
Get more updates on: coinsprobe.com
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before making any investment decisions.
#Stacks #STX

The launch of sBTC (synthetic Bitcoin) on December 17, 2024, is a significant event for the cryptocurrency ecosystem, especially for the Stacks community and for Bitcoin in general. Here are the key points and why I believe it will trigger a considerable rise in $STX :

🟧 What is sBTC?

sBTC is a token that represents Bitcoin within the Stacks ecosystem, allowing the use of BTC in decentralized applications (dApps) without sacrificing the decentralization or security inherent to Bitcoin.

Stacks ($STX ) has a unique characteristic in the world of cryptocurrencies: it was the first token approved by the #SEC (U.S. Securities and Exchange Commission) to be sold publicly under a regulated framework. This was achieved because Blockstack PBC, the company behind Stacks, decided to register the #STX offering under Regulation A+ in 2019, a mechanism designed to help startups and small businesses raise funds transparently and legally in the U.S.