Stacks (STX) Technical Analysis: STX Price Primed a 23% Upswing Soon!

Key Takeaways

• The Stacks price closed the previous day’s trade at INR 86.16 with a market capitalization of INR 153 billion and a circulating supply of 131 Cr STX
• The STX price after the recent spike may consolidate for a while and later pull a strong leg up gaining more than 20% 

Stacks(STX) Technical – Analysis for the Month

The Stacks price began the monthly trade on a bearish note and plunged by more than 28%. However, the sudden spike since the early trading hours flipped the bearish trend and piled up a huge buying volume. Currently, the price appears to be a little exhausted as it is consolidating within narrow ranges. After a brief consolidation, the price is expected to pull a massive leg up towards INR 150 by the end of April 2022. 

Stacks(STX) Technical Analysis at a Glance

The Stacks price maintained the uptrend line, despite multiple surges and plunges during the meantime. The asset consolidated for a long time before it spiked high during the times when most of the assets are falling hard. After a quick surge, the price is consolidating healthy, probably to pull a notable leg up later.

Technical Indicators & Pivot Levels

Technical Indicators

Pivot Levels

Oscillators

The indicators suggest a notable upswing in the short term as most of them are extremely bullish. Apart from being extremely bullish, it is also highly volatile at the moment and hence a drastic price movement can be expected irrespective of the direction. However, in the long term, the asset possesses a bearish trend and also the price is less volatile.  

STX/INR Technical-Analysis for Short-Term

Source: Tradingview

• The Stacks price appears to have flipped the bearish trend that is ignited at the beginning of the month
• The asset has faced a couple of rejections at these levels before, and hence a strong rebound is the need of the hour
• The price is waiting for a strong boost that may clear the neckline of the double bottom pattern at INR 96.71 
• Further, a notable upswing may be ignited that could uplift the price above a 3-digit figure initially and later at the pivotal levels at INR 112

STX/INR Technical Analysis for Long-Term

Source: Tradingview

• The STX price since the beginning of 2022 trade is swinging within the pivotal resistance and support levels
• After the recent flip from the lower support, the price is expected to maintain a significant uptrend towards the resistance at INR 113
• However, INR 98.32 may hinder the rally as the asset has faced a trend reversal a couple of times before. 
• Once the asset surpasses the 3-digit figure, it may validate a significant uptrend further.

Where & How to Buy Stacks(STX)

Buying Stacks tokens is extremely simple and safe on CoinDCX. To register, just download the CoinDCX App and follow the instructions. After verification of your entered details, fund your wallet and buy an STX coin. 

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