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STXUSDT

STX: Falling Wedge BreakoutTrade setup : Price reached $1.30 where price got rejected and pulled back. It was consolidating in a Falling Wedge pattern and had a bullish breakout, which could indicate a potential trend reversal to Uptrend with upside to $1.05 or even $1.30. Next Fibonacci retracement support level is $0.70 (78.6%) and the next horizontal support level is $0.60. Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $0.55. The nearest Resistance Zone is $1.05, then $1.30.
Long
by altFINS
1
Stx Breaking Falling Wedge Stxusdt Based on my analysis of the Stx chart in the 4-hour timeframe, I have identified a bullish chart pattern known as a "Falling Wedge". This pattern is characterized by a series of lower highs and lower lows that converge into a point, forming a wedge-like shape that slopes downwards. The pattern is usually followed by a breakout to the upside, which could potentially lead to a significant price move. Currently, Stx is trading within the Falling Wedge pattern, and it appears to be approaching a key resistance level that could trigger a bullish breakout. If the price manages to break above this resistance level and close above it, it would be a strong indication that the bulls have taken control of the market. Assuming that the breakout is successful, I would expect the price of Stx to move towards the HKEX:1 level, which is a significant psychological resistance level. This level has not been tested since 2018, and if the price manages to break above it, it could trigger a new wave of buying that could potentially push the price even higher. However, it's important to note that trading is always subject to market volatility and unexpected price movements, so there is always a risk involved in any trade. Therefore, it's crucial to set stop-loss orders to minimize potential losses and to have a solid risk management strategy in place. Additionally, it's essential to keep an eye on any news or events that could affect the price of Stx, such as new partnerships or regulatory changes.
Long
by Crypto-By-Ghazi
$STX: Anticipated Breakout; Divergence Signals, and Fib zones On the daily, the RSI is within a symmetrical triangle, indicating an anticipated breakout by May 11. It would be ideal if STX closes the daily candle above $0.82 today, as it aligns with my previous Fibonacci expectations, as indicated on my TradingView chart (link: ). My divergence indicator shows a divergence based on the commodity channel index and identified support zones. Being transparent, I cannot provide a clear guideline at the moment. While I lean towards quick upward price movement, there are multiple factors at play, and a broader perspective is needed. It all depends on the king (referring to Bitcoin), which is currently experiencing resistance at 30.4k and has corrected to the baseline of the Bollinger Bands. If it can establish a baseline there and continue its upward momentum to FWB:36K , we might see a bottom forming soon and some quick price developments.
by joerivdpol
Stx | Breaking Out Falling Wedge Stxusdt Breaking Out Falling Wedge Pattern in 4H Timeframe In the event of a successful breakout and retest, we anticipate a 30-50% bullish move.Once confirmed, we will wait for a retest of the breakout level to establish support before entering a long position. Our target for this trade will be set at a 30-50% move to the upside. Risk management measures will be put in place to mitigate any potential losses. Please keep in mind that our ideas are based on our experience and knowledge, and may not be completely accurate as the market is always unpredictable and anything can happen at any time. It is essential to conduct your own research and use your own knowledge when trading. If you are happy with our work, join us
Long
by Crypto-By-Ghazi
Where Will the Pullback on STX End?Stacks (STX) has been one of the best-performing coins on the market this year. The token soared by nearly 500% from January 1st to its high of $1.31 only 18 days ago. However, like most cryptocurrencies, STX is now experiencing a pullback. In this analysis, we'll take a closer look at what's happening with STX and what investors can expect in the coming weeks. What is STX? Stacks is a Bitcoin layer for smart contracts, allowing decentralized applications to use Bitcoin as an asset and settle transactions on the Bitcoin blockchain. It unlocks $500B in BTC capital and has knowledge of the full Bitcoin state, with transactions automatically hashed and settled on the Bitcoin L1. Stacks blocks are secured by 100% Bitcoin hashpower, making it difficult for hackers to re-order transactions. STX managed to break above the $1.00 resistance level that was previously identified in our analysis. However, it was unable to hold the price above this key level, so now it's coming back down. STX’s inability to sustain its price above resistance may indicate that the price level was too high for the market at the moment to sustain. Where does the pullback end? While STX is going through a pullback, the 100 Simple Moving Average (SMA) may halt the downturn. The 100 SMA acts as mobile support, preventing the price from falling below it in most cases. If the 100 SMA breaks, the next support level is around $0.50. It's essential to remember that the current pullback is a normal occurrence in the cryptocurrency market. After massive gains, most cryptocurrencies tend to experience a correction. Typically, coins that start a bull run strongly are the ones that advance the most overall. As such, investors should keep an eye on STX for the potential for another bull run coming in 2024-2025. Bottom Line: Stacks (STX) has been a high-performing cryptocurrency this year, but like all cryptocurrencies, it's experiencing a pullback. However, this is a normal occurrence in the crypto market, and investors should keep a close eye on the support levels and moving averages.
by cryptohopper