STXUSDTWe can attempt to buy STXUSDT from specified level as it break LH , also making double bottom pattern (reversal pattern) , also bullish divergence occur indicate that it moves upward.
SL , TP mention in chart.
STXUSDT.P trade ideas
Stacks Crypto Breakout: Must-Watch Resistance and Support LevelsBINANCE:STXUSDT has shown notable upward momentum in recent trading sessions, with closing prices rising consistently. Closing prices have progressed from $1.508 to $1.65, indicating a strong bullish trend. Meanwhile, the 9 Exponential Moving Average (EMA) is currently at $1.5437, while the 20 EMA stands at $1.4816. The positioning of these EMAs suggests that the shorter-term trend is outpacing the longer-term trend, reinforcing the bullish sentiment.
Concurrently, the Moving Average Convergence Divergence (MACD) further supports this bullish outlook. The MACD line has remained above the signal line, with the histogram displaying positive values, highlighting strong upward momentum. Currently, the MACD histogram is at 0.0316, reflecting increasing buying pressure.
Relative Strength Index (RSI) values have surged from 64.65 to 77.09, indicating that STX is approaching overbought territory. This suggests that while the bullish trend is strong, traders should be cautious of potential pullbacks or consolidation phases.
Key levels to watch include immediate resistance at $1.657. A breakout above this level could propel the Stacks crypto price towards the next resistance points at $1.675 and $1.69. These levels are critical, as a successful breach could signal continued upward movement and potentially attract more buyers.
On the downside, support levels are observed at $1.635 and $1.621. Should the price retrace, these levels could provide strong buying opportunities. A further drop might see support at $1.605, which could be crucial in maintaining the overall bullish structure.
For traders looking to capitalize on this trend, potential entry points for long positions could be around the support levels at $1.635 and $1.621, with exit targets set near the resistance levels at $1.675 and $1.69. Conversely, short traders might consider entries near the resistance levels, with exit targets at the immediate support zones to capture potential pullbacks.
In conclusion, the technical indicators for STX on the 4-hour chart exhibit a predominantly bullish outlook. Traders should monitor key resistance and support levels for potential entry and exit points to maximize their trading strategies.
STX Daily Analysis: Anticipating a Breakout📅 Let's dive into today's analysis in the crypto market. Today's coin is STX, one of the coins that gave significant returns during Bitcoin's surge from 16k to 73k. We won't analyze Bitcoin today since I will provide a complete analysis of Bitcoin tomorrow.
🔍 Analysis of STX
Project Overview
STX is a layer-2 solution for Bitcoin, similar to other layer-2 solutions, it increases network speed and reduces transaction fees. Additionally, STX provides infrastructure on the Bitcoin network for building decentralized applications (DAPPs). Many well-known DAPP projects use this platform and protocol for their infrastructure.
🎲 Chart Analysis
The analysis is conducted in the daily time frame. As you can see, STX had a powerful upward trend and, after reaching the resistance of 3.686 and concurrently with Bitcoin reaching its peak of 73k, it started to retrace. This retracement has been marked by a curved trendline and a trendline from the price bottom, leading the price down to the 1.316 area.
🧩 Key Support Level
The support level at 1.316 is quite strong. It is significant not only from a price action perspective but also because it coincides with the 0.5 Fibonacci level, adding to its importance.
📊 Volume Analysis
During the last upward wave from 1.316 to 3.686, the volume of green candles began to decrease, indicating a weakening trend that was visible on the chart. After this, and during the correction phase down to 1.316, the volume continued to decrease, suggesting that traders did not engage in buying within the range of 1.316 to 3.686. This indicates that the resistance at 3.686 is not very strong, and the price is likely to test this area again.
🧲 Trendlines and Breakout Scenarios
The trendlines that have brought the price down from 3.686 to 1.316 are nearing their end. The price will soon break either the upper or lower trendline. If the curved trendline is broken and its trigger is activated, the price could rise back to the 3.686 peak with a significant influx of buying volume. Conversely, if the trendline from the price bottom is broken, there are two potential scenarios:
If selling volume enters the market and Bitcoin loses its 55k support, we can expect a strong bearish momentum. Breaking the 33.44 support on the RSI can confirm this momentum entering the market.
If the trendline is broken but Bitcoin maintains its support and selling volume does not enter the market, we might see the bearish trend exhaust, and the price could move back above the 1.316 support level.
💥 Bitcoin's Influence
The reason Bitcoin's support and resistance are crucial for this coin's movement is that STX is a layer-2 solution for Bitcoin. Layer-2 projects generally have a high correlation with their primary projects. Additionally, with Bitcoin's dominance at 54%, Bitcoin naturally influences all altcoins, especially one that serves as a layer-2 solution for Bitcoin.
🛒 Buying Strategy in Spot
The safest trigger for buying this coin in the spot market is 3.686, which is the all-time high (ATH) for this coin. If the price stabilizes above this level, it could move towards new targets. However, this trigger is 130% away from the current market price, which is quite a distance. Until the price reaches 3.686, there are other triggers that, upon stabilizing above these levels, the price could move upwards. Naturally, these triggers are riskier than 3.686, and the probability of hitting a stop loss is higher. The first trigger is 1.801, which is the peak of the Low Wave Cycle (LWC). Since the price is in a High Wave Cycle (HWC) uptrend, you can consider entering in the LWC. The next trigger for buying is 2.422, which is the MWC resistance. After breaking and stabilizing above this area, we can move towards the 3.686 peak.
📝 Conclusion
STX, a layer-2 solution for Bitcoin, is currently at a critical support level of 1.316, which is significant both in price action and Fibonacci terms. With decreasing volume indicating a potential test of the 3.686 resistance level again, traders should watch for key breakouts and Bitcoin's influence on the market. Considering the triggers and support levels mentioned, strategic entries can be made with proper risk management.
🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2.
🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a coin you'd like me to analyze next.
STX ANALYSISSTX's bearish structure is well visible
We have liquidity pools at the bottom of the chart.
We have a supply range that we considered as a POI.
If the price reaches this supply, we will look for sell/short positions
We will also look for buy/long positions in the demand range.
Closing a daily candle above the invalidation level will violate the analysis
Note that the financial market is risky, so:
Do not enter a position without setting a stop and capital management and confirmation and trigger.
When we reach the first TP, save some profit and try to move the stop continuously in the direction of your profit.
If you have any comments please post them, comments will help us improve our performance
Thanks
Trade Setup: STX Double Bottom FormationMarket Context:
STX has shown a significant rally of 200% the last time it touched this support level. With the price forming a double bottom and BTC expected to rally, this presents an opportunity for both a spot position and a shorter-term trade.
Trade Setup:
Entry: Enter a trade at $1.37.
Take Profit: Set profit targets at $1.80 and $1.98.
Stop Loss: Place the stop loss at $1.16 (on a daily close).
📊 Monitor BTC's performance closely and adjust your strategy as needed! #STX #CryptoTrading #DoubleBottomFormation 🎯
STX buy setupWe already caught good swings from STX.
Now we have determined the best demand range on the chart. We will look for buy/long positions in this range.
If the price reaches the green range, we will enter the position
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Could STXUSDT Be on the Verge of a Major Rebound? Yello, Paradisers! Is #STXUSDT about to make a dramatic move? Let’s dive into the analysis to see what’s happening.
💎Currently, #STX is lying on a strong support zone. The probability of a rebound from here is high if the daily candle closes with a bullish rejection. Should this occur, the price is likely to reverse upward, testing the supply zone around 1.8 and the descending resistance area.
💎If STX successfully breaks out of the descending resistance, it could indicate a strong momentum shift. This breakout might also lead to a breach of the supply zone. A successful break above the supply zone would confirm a bullish reversal, with a high probability of the price reaching our target at the strong resistance area.
💎However, if STX fails to break the descending resistance or fails to rebound from the support, we could see a move towards the order block (OB) area. The OB area is crucial as it likely contains large orders that could lead to a significant rebound. For the price to continue its upward movement, reclaiming the support zone is necessary.
💎Conversely, if STX breaks below the OB area and the daily candle closes beneath it, this would confirm a bullish invalidation, signaling a continuation of the bearish trend and a potential further dip.
Stay vigilant, traders, and remember that discipline and patience are key to navigating these market moves successfully.
MyCryptoParadise
iFeel the success🌴
STX: Approaching ResistanceTrade setup : Price is in a downtrend, trading below its 200-day moving average. It's also broke below $2.00 support and made a Lower Low, which is also a sign of a downtrend. Price needs to break back above those key levels to resume it's uptrend. Stacks (STX) is a platform for scaling and building on top of Bitcoin. Read our research report.
Pattern : Price is Approaching Support , which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken. (concept known as polarity). Once price breaks below support, it can move lower to the next support level. Learn to trade key levels in Lesson 7.
Trend : Short-term trend is Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance : Nearest Support Zone is $1.50, then $1.30. Nearest Resistance Zone is $2.00, then $2.50.
STX/USDT Chart UpdateHello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.
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Now, let’s dive into this chart analysis:
#STX/USDT is currently experiencing a correction within a larger bullish trend. The price is likely to continue if STX fails to hold the initial support level at $1.7.
Key Observations:
~ Initial Support: The price has an initial support level of $1.7, as highlighted in the chart.
~ High Liquidity Range with Strong Support: A significant support zone is identified between $1 to $1.2. This range is marked with a green rectangle and is noted for its high liquidity and strong support characteristics.
~ Moving Average: The 100EMA is an initial resistance for STX. A breakout above it will likely trigger the bullish trend and a rejection will continue the correction phase.
~ Projected Price Movement: The chart projects a potential price drop towards the high liquidity range, suggesting a dip to around $1 to $1.2 before a strong rebound.
After reaching the support zone, a bullish reversal is expected, with the price potentially aiming for the upper boundary of the channel, targeting around $7.
Best Entry: $1 to $1.2.
Targets:
T1- $2.42
T2- $3.53
T3- $4.38
T4- $5.74
T5- $6.82
DYOR. NFA.
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STX PriceFor the past weeks, the STX coin delivered the lower top and lower bottom swings and was corrected over 40% in the past two months.
STX Potentially BullishWe have seen over time how the crypto market has created some lows. Are we going to be seeing some bullish push ahead of the crypto convention next month? On the TA side, market is looking like it is ready to make another push upward, however I will want to see some bullish move to confirm that the retest is completed on the H4 TF.
Until then, fingers crossed.
Long term, I'm going long
Moving towards the top of the channelThe trend is bullish in the current timeframe, but overall it is ranging. There is an ascending channel where STX is fluctuating, showing good volatility.
The scenario involves moving towards the top of the channel, and we can aim for this movement with strong confirmations.
STX Price AnalysisThe STX/USDT daily chart presents a comprehensive look at the current market dynamics, indicating significant levels of support and resistance, as well as a falling wedge that has been broken out and in play since April.
After breakout from the falling wedge the price pumped 25% and rejected from a blue zone at $2.441 multiple times, after a pullback price now near weekly support zone (Green) at $1.726 - $1.833.
If the price bounced back from the green zone and trend line after a confirm retest we could see a massive pull back and it will form a new highs.That’s a bullish scenario.
In a bearish scenario, if a green zone did not holds the price of STX we could see it to test the next levels and finally the yellow zone at $1.162 - $1.282.
If the price reached the yellow zone that is the best place for loading our bags.
According to our analysis we are in favor of the price will bounce back from the green zone and trend line after retesting.
Remember, always use stop loss to secure your funds.
STXUSDT-Descending Resistance #STX/USDT is going to test the descending resistance on daily timeframe👀
Full send if we do break out📈
STX - Long and Short SetupsUsing Fibonacci extensions, if we are currently accumulating at these lows, we could see the following bullish and bearish moves.
Bullish scenario
A move above the 0.618 Fibonacci ratio ($3.067) would again create a structurally higher high and potentially set up moves to the higher key levels.
Bearish scenario
Failure to break about this current high or break about the 0.618 Fibonacci ratio (red lines) could result in a move back towards the lows.
Stacks analaysis #STXStacks is rejecting from fair value gap level so I expect the price to bounce from here
STX Long Trade SetupCurrent Situation:
Trend: STX has been in a downtrend since April 2nd but recently experienced a change of character (CHOC) after retesting the 0.618 Fibonacci level.
200-day EMA: This is an important level to watch, marked by the red line on the chart.
Trade Strategy:
Entry Criteria:
Support Confirmation: Watch the price action around the 200-day EMA to confirm it flips from resistance to support.
Entry Point: Enter a long position at $2.
Take Profit Targets:
Primary Target: $2.50
Secondary Target: $3.00
Stop Loss: Set a stop loss at a daily close below $1.80 to manage risk.
Summary:
For STX, after experiencing a change of character and forming a higher high, look for a higher low in the discovery phase. Enter a long position at $2, targeting $2.50 and $3.00 for profits. Watch the 200-day EMA for support confirmation and set a stop loss at a daily close below $1.80 to limit potential losses.
STX StructureOur market structure indicator is showing a new bullish trend on STX after a 50% pullback. One of the better looking altcoin setups in the market.
STX 8H LONG setup UPDATE - June 9 2024With TP2 having been hit and despite the recent dump, he bullish structure is still maintained and higher targets are still active.
p.s. your SL must be already at entry level at the moment.
#BTC #STX #CRYPTO
Potential for another decline towards the lower boundarySTX is currently in a ranging trend, though it exhibits a tendency towards more downward movements. The price action is confined within a large descending channel. Recently, STX reached the upper boundary of this channel after an extended period of consolidation near the lower boundary.
#STX/USDT#STX
The price is moving within a descending channel pattern on the 12-hour frame, which is a retracement pattern
We have a bounce from a green support area at 1.80
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that supports the rise and gives greater momentum
Entry price 1.84
The first goal is 2.20
The second goal is 2.45
The third goal is 2.70
STACKS (STX): $1.50 | The Real Deal in the Spaceit shall take a while for fundamentals of this project to be appreciated
for now only few OGs in the space are going crazy
more so fewer of us know the real use case in the real world way later
or SOONER
currency . identity . validation . legitimacy . fungibles . de-fi . metaverse
Handler: Sam Altman and the Gang of 8
even BITCOIN maxis arent on board yet ...
