STXUSDT trade ideas
STX - Stacks I believe in YouThe increase in Stacks explained:
Itโs unusual for a cryptocurrency to announce a 2x return in this down market. However, Stacks (STX) was able to do this in June because to a few fortunate circumstances. Although the smart contract platform and Bitcoin (BTC) are closely related, many customers consider Stacks to be a better option for their wallet.
While waiting, you can wonder where to invest your money to make a similar or even better purchase. A different funding platform, VC Spectra (SPCT), which is expected to experience an exceptional 10x rise, may provide a workable solution for early blockchain and technology start-ups.
Since its inception at the beginning of 2021, Stacks (STX) has given Bitcoin a new layer of usage, riding the wave of rekindled interest. The price of STX is growing as a result of several fundamental Bitcoin-related events. The main one is BlackRockโs decision to submit an exchange-traded fund for Bitcoin.
Curiously, it is with the SEC, the same regulatory body that is engaged in legal conflict with Coinbase, who may serve as the ETFโs custodian. However, there is a lot of institutional interest in Bitcoin (BTC), which has benefited Stacks (STX).
Other commentators have said that Bitcoin has an advantage over other currencies since the SEC views it as a commodity rather than a security. Additionally, that is advantageous for the Stacks blockchain.
Stacks have increased by more than a factor of two from $0.43 to $0.88 since June 10th, 2023. In actuality, this doesnโt mean Stacks (STX) is safe. But if this trend keeps up, Stacks could eventually reach its $1.50 goal by 2023.
Chart:
I see 1.07 as the key all time trend line S/R level.
Price will most likely do go there for a check..if that level fails price will come lower but i still see most likely the breakout happening which unlocks 2-7$.
Ultimately i see STACKS in the 10-19$ range in 2025-2026
One Love,
The FXPROFESSOR
STX - only SEC registered crypto & Bitcoin Smart ContractsI am loading up on STX mainly because it is the only SEC registered crypto project out there.
Also Stacks allow users to deploy smart contracts on Bitcoin Blockchain - you might have heard Ordinals recently, NFTS on Bitcoin. There arent many other strong candidates with such fundamentals.
It has already broken out of the down trend, and seems like finding support above a major resistance.
STX: Navigating the Ups and DownsStacks (STX), a pivotal token in the blockchain ecosystem, has been charting an interesting course. A coin integral to the functioning of the decentralized apps and smart contracts on the Bitcoin network, STX has been showing signs of volatility, encouraging traders and investors to examine its performance closely.
Snapshot: Current Market Scenario
As of our analysis, the price of Stacks is at 0.7078, representing a drop of approximately 4% over the past 24 hours. This indicates a recent bearish sentiment in the market. However, as seasoned traders would affirm, the tide in the crypto market can turn swiftly, and current bearish trends do not rule out a potential bull run in the near future.
The Short-term Picture: 1 Hour Time Frame Analysis
On the one-hour chart, we observe an RSI value at 40, a level typically regarded as the brink of the oversold territory. This suggests that we might expect a potential price reversal or at least a pullback in the near future. Confirming this speculation is the MACD reading of -0.0068, which could indicate a shift in the market momentum towards the upside.
The Fibonacci Retracement, a tool used by traders to identify potential levels of support and resistance, shows 0.6988 as the 0 level, 0.7480 as the half level, and 0.7871 as the first level. These levels could play a significant role in the future price movement of STX. A volume oscillator at -18% suggests that trading volume has decreased, a trend often preceding a significant price movement.
Mid-Term Prospects: 4 Hour Time Frame Analysis
Zooming out to the four-hour time frame provides us a wider perspective. The RSI and MACD continue to indicate a potential bullish reversal, reaffirming the readings from the one-hour chart. The Fibonacci Retracement levels for this time frame are 0.7111 (0 level), 0.797 (half level), and 0.8829 (first level). An increase in trading volume may be required for the price to reach these levels.
The Long Game: Daily Time Frame Analysis
On the daily time frame, the indicators paint a slightly different picture. The RSI is sitting at a neutral 56, the MACD at 0.0358, and the stochastic is at 57, all hovering around the middle of their respective ranges. This neutrality suggests an equilibrium between buying and selling pressure, and we might be in for a period of consolidation.
Fibonacci levels are also of interest, with 0.8829 as the 0 level, 0.66 as the half level, and 0.4371 as the first level. These will likely be the critical levels to watch out for in the near to mid-term.
Wrapping Up
To sum up, despite the recent downward movement, the technical indicators suggest a possible change in market sentiment for Stacks (STX). The divergences between the different time frame charts underline the importance of considering multiple perspectives when forming a trading strategy.
The crypto market is dynamic and rapidly evolving, and while technical analysis can provide us with a roadmap, itโs important to stay abreast of the broader market news, changes in regulations, and macroeconomic factors that can impact the crypto landscape. Remember, trading always involves risks and it's crucial to trade responsibly based on thorough research and analysis.
In the case of STX, a coin that plays such a fundamental role in the Bitcoin network, both the micro trends (as indicated by the hourly and four-hourly charts) and the macro perspective (
from the daily chart) offer crucial insights. The technical indicators suggest a potential upward trend in the short term, while the daily chart may indicate a period of consolidation. As always, staying tuned to market fluctuations is key in this exciting and unpredictable realm of cryptocurrency trading.
Stacks emerges top gainer with 13% surge ๐๐ฝSTACKS was a great entry for us yesterday and a very promising one for the future.
1.17 mid of ascending channel
1.795 technical resistance
2.38 end of ascending channel
19$ potential for 2025/early 2026 (where i see end of next cycle)
Stacks is a blockchain protocol that leverages bitcoinโs security and state through the innovative proof-of-transfer (PoX) consensus mechanism. With this integration, Stacks seeks to enable smart contract capabilities on the bitcoin network and bolster scalability.
Per data from price-tracking platforms STX, its native token, has been the biggest gainer among the top 100 assets by market capitalization in the past 24 hours. With a13% surge, STX has outperformed bitcoin (BTC) over seven times within this timeframe.
Let's go STACKS!
The FXPROFESSOR
STX possible next move.STX still in uptrend.
If STX break above its most recent high, we might see it go to the possible target or sell short zone.
If it gets rejected, there is still gaps below its current price. Go to lower TF for better entry if it touches the zones, and look for signs that the trend will continue or reverse.
STX already hit the most recent liquidity zone, we might see it touch the First buying zone or the extreme OB/Ideal buying zone.
Still DYOR, and TYOR ^-^! just giving you a possible next scenario in my perspective. Happy trading everyone, hope you will have a profitable year.
x2 - x4 chance with STXD1: stx main uptrend. During the downtrend starting from March 20 to June 10, the price moved down the channel with low volume and small amplitude.
The weis wave volume represents an ascending attempt by the sellers, but the price did not fall sharply when the price approached 0.5213. The candle on June 10 is a climax of selling and the candle on June 18 is a no supply -> selling pressure is exhausted.
On 20/06 there was a strong bullish candle + super high vol broke the downtrend structure -> the downtrend corrected and ended, stx returned to the uptrend.
setup: buy limit 0.6795, sl 0.435, tp1 1.3115, tp2 2.8
๐ Jingle all the way, oh what fun it is to ride the STX train๐๐Merry Xmas to all SEC and Powell bears:
๐reference:
๐Dashing through the snow
In a one-horse open sleigh
O'er the fields we go
Laughing all the way
Bells on bobtails ring
Making spirits bright
What fun it is to ride and sing
A sleighing song tonight, oh!๐
๐Jingle bells, jingle bells
Jingle all the way
Oh, what fun it is to ride
In a one-horse open sleigh, hey!๐
๐๐๐MERRY XMAS JEROME, MERRY XMAS SEC!๐๐๐ HAPPY NEW YEAR BEARS!!
The FXPROFESSOR ๐
OH I FORGOT: STX IS A TRAIN ๐๐๐๐๐๐๐๐
76% Profit?hello guys
i hope you all doing well
i think this setup will make a very good profit
but do you fundamental research before open any position
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STX SHORT RETESTstx is looking strong despite current market sentiment. we tested resistance at ..67 cent.we are now retesting the 200 although stoch rsi are overbought so a continued retest to the 50 and 20 running in confluence is my expectation
if taking the long i would put a stop loss at either 57cent or if you want more exposer 52 cent is the swing low i am expecting the bounce at 60 cent i would enter the long there and target .84 cent we need to break through ..68 first