• Mon. Mar 4th, 2024

Stacks (STX) Observes 28.11% Rally and its Value is Expected to Grow Higher

Mar 11, 2022

Amidst the general crypto downfall, Stacks (STX) seems to be delivering a positive performance. The past 7-days have proven a success story for Stacks which has seen its price surge by 17.63%. The past 7-day weighted growth for Stacks comes from the past 24-hour (27.17%) surge that has boosted its price significantly.

Before the past 7-day surge, the value of Stacks was at a low of $1.15 per STX. However, the investors have started rallying with the bulls which has pushed the bears to aside. Now, the price of Stacks is moving towards a high trend and it may continue until the rally loses its steam.

At the moment, the value of Stacks is $1.37, which is also a price correction as Stacks went all the way up to $1.89 intraday trading. A huge surge has been observed in the trading volume for Stacks as well, which has seen its volume grow by 3960.11%. As of now, Stacks’ trading volume is at $766,574,007.

Technical Factors and their Direction

Despite the growth observed in the past 7-days, Stacks is still stuck in between. However, the positive outcome of the recent growth is that Stacks was initially in the bearish zone, but now it is neutral. This means that from this point, either side can pull Stacks to their corner.

At present, the summary scale for Stacks is exhibiting a neutral outcome. The ratio of sell:neutral:buy currently stands at 9:8:9, which suggests that it is only a matter of time before the neutral investors make their move. Therefore, any side that manages to prove its worth to the neutral investors would gain their support.

At present, the moving averages are going towards the “sell” trend, while the oscillators are pointing towards the “buy” trend. Surprisingly, the RSI is currently favoring the positive trend as it is currently traveling at 54.120.

A closer look at the technical indicators suggests that the bulls may manage to gain superiority over the bears in the upcoming days. This is because the bulls have the RSI moving in their zone, and the RSI tends to show the true strength of the trend.

Stacks May Rise to $2.14

Keeping the factors in mind, it is being expected that the price of Stacks may grow in near future. The bulls may succeed in achieving the particular benchmark if they keep the rallies to a higher level. This would result in pushing the price of Stacks to a high resistance benchmark ($1.64 per STX).

As the bulls keep displaying strong buying potential, more investors would be lining in their favor. This would elevate the price of Stacks to another high resistance benchmark ($1.83 per STX). This would trigger another strong rally, which would allow the investors to push Stacks to $2.14 per STX.

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