Stacks (STX) Coin – What does the Chart Tells us Now?

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At the time of writing STX is being traded at the price of $2.06. The price has decreased by almost 7.47% in the past 24 hours. STX created its all-time high around the value of  $2.850 in April 2021 before the drop to a value of $0.500. The daily trading volume has decreased by almost 24.06% in a day. The total supply of STX is around 1.352B tokens. The circulating supply is around 1.28B STX.

The Native Token – Stacks  (STX)

The native token of Stacks is known as STX. STX has a variety of use. It is used for the execution of smart contracts. It is used for transactions and also for registering new assets on Stacks. STX is listed on coinmarketcap at 65th position and has a market dominance of about $0.10.

Technical Analysis- Stacks (STX)

Stacks (STX) has been one of the coins that have been slow to gain pace but are slowly gaining more and more. The chart at the moment is showing bearish movement.

The price moved up by creating an order block which eventually broke the structure towards the upside. It continued to create a higher high till a point came from where it wasn’t able to create a new high. That was a sign that the market structure is shifting bearish. From there lower highs and lower lows were created and a drop in price occurred.

Stacks (STX) - 1D

The price was bouncing from a trend line (it had bounced 3 times in total). But overall, the order block still hasn’t been mitigated and the way STX is losing steam, it might not bounce the next time it touches the trend line. If it drops to the order block, we can expect the price to shift structure. But this drop would only come into play if the trend line doesn’t hold. If it holds we can look for a bullish price movement, even if it is for a short period of time.

Price Prediction – Stacks

In the long run, STX is a good opportunity. According to the wallet investor, the price of Stacks is to reach a value of $3.419 in a year. For a five-year plan, the price will reach a value of $8.230. But the investors are even more bullish on the value and they think that it will reach even more.

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