Stacks Price Analysis
Stacks $STX has been correcting in an uptrend. The price has been lingering between the moving averages, indicating a tight battle between bulls and bears.
If the price rises above $3.36, it may indicate that the bulls have absorbed the supply. This increases the potential of a rally to the overhead resistance level of $3.84. If this level is overcome, the STX/USDT pair might rise to $4.73 and then to $5.3/4 may be more.
Contrary to this idea, if the price falls and breaks below the 60-day moving average, it indicates that the bears are outnumbering the bulls. This might spark a further drop to $2.5, and then to $2.10.
The bulls pushed the price on the 4-hour chart, the bulls have driven the price above the 20 SMA, indicating a reduction in selling pressure. The pair may attempt a rise to $3.60 and then $3.84 if the buyers keep up the momentum and push the price over the 50 SMA.
On the other hand, it will indicate that the bears are selling during rallies if the price declines from the 50 SMA. The bears will gain more traction if $3.05 is broken, and selling might pick up speed below $2.90.
