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STXUSD trade ideas

Stacks' Is Consolidating in a Symmetrical Triangle For NowStacks' (STX) rally has paused, and a very volatile consolidation seems to be taking place in the form of a symmetrical triangle. While the symmetrical triangle is a neutral chart pattern, when it appears within an established trend, it tends to break in the direction of the prevailing trend. Symmetrical Triangle Pattern The symmetrical triangle is in the early stage of development, and it might take a while before it is concluded. If the price remains contained within the current upward and downward sloping trendlines, we will have a valid symmetrical triangle. On the upside, a break above the downward sloping trendline will open the door for a retest of the short-term resistance level of $2.44. The current swing high of $2.61 is another technical level that the bulls need to overcome. However, the most important resistance level remains the recent all-time high of $2.90 established on April 5. The 50-period simple moving average aligns perfectly with the upward sloping trendline to provide more confluence. This means it will be harder for the bears to take charge. However, a downside break will open the door for a retest of support level $1.83.
BINANCE:STXUSD
by cryptohopper
STX - Wait For The Trigger!Hello everyone, if you like the idea, do not forget to support with a like and follow. STX is sitting around strong demand and round number 1.0 so we will be looking for buy setups. on H1: STX formed a valid ascending triangle in red but it is not ready to go yet. (projection in purple) Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? Trigger => Waiting for a momentum candle close above the upper red trendline (1.250) to buy. Meanwhile, until the buy is activated, STX would be overall bearish can still trade lower. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:STXUSDLong
by TheSignalyst
38
STX could see tremendous gains in near future!Blockstack (STX) is starting to look hella bullish for the first time in it's history ! We can see that its price is always rejected in the 30/33cents area. Right now it's consolidating near this HUGE resistance with low volatility printing smaller and smaller handles. If the resistance is broken STX could be set for BIG gains in the near future! Ideally we will like to see a continuation of low volatility for a couple of days and a clear breakout with STRONG volume ! Trade the breakout on the upside and trade safe !
BINANCE:STXUSDLong
by Risk-ban-Al
1
Why Blockstack(STX/USD) is Super undervalued ? Ready to Pump!!The project has backing from venture capitalist mainstays like Union Square Ventures, Digital Currency Group, and 20 others. It’s secured $75 million in funding to date... including $23 million via the first Regulation A+ token offering ever. (A Regulation A+ deal allows non-accredited investors to invest in private projects.) The Blockstack network launched in November 2018. It started with 38 apps but has grown to over 500 since then. Like Google and Apple, you can access your Blockstack apps through one username. However, unlike Google and Apple, it doesn’t store your data. Instead, your data is stored on the blockchain and controlled by your private key. Your private key is an encrypted code that allows you to access your data on the blockchain.Only the person holding your private key can access your information. As Blockstack adds more apps, we’ll see its ecosystem continue to grow. And since it’s an open- source network, any developer can build on it... That’s unlike Apple or Google, which charge developers exorbitant fees to build on their platforms. Looking forward, we see two massive catalysts ready to propel Blockstack higher. The first will happen within weeks. It’s called Blockstack 2.0. That’s when the PoX protocol goes live. When it launches, we’ll see STX holders lock up their tokens for staking. Staking is when token holders can lock their crypto assets (i.e. their stake) to help secure a blockchain network. And in exchange, they earn rewards. Staking crypto tokens locks them away and reduces market supply. And the introduction of staking is coming right before the second catalyst – STX’s countdown timer. By October 31, 2021, Blockstack’s code will reduce the rate of inflation by 96%. It’s the mega catalyst we think will keep pushing prices higher. Combined with staking, we’re about to see a dramatic drop in the supply of STX coming to market.
BINANCE:STXUSDLong
by ShinForex1
6