Rising Stacks (STX) Price Requires This Breakout To Strengthen Further Rally

Published 52 minutes ago by
Brian Bollinger earlier today, the Stacks price saw a massive pump and reached $0.335. The prices could not sustain the higher price and the price rejection candle was lit. Anyhow, the altcoin is currently struggling to reclaim the $0.25 resistance, indicating the selling pressure persists.advertisementKey points: The coin chart shows a strong accumulation zone below $0.21
The Stacks coin would continue its downtrend until the resistance line is intact.
The STX’s intraday trading volume is $80 million, which indicates a gain of 1146.05%
Source: Tradingview. The Stacks coin price fell to a new low of $0.21 in 2022 after the market sell-off. The market uncertainty meant that the Stacks coin price plunged to $0.21. Stacks coin prices saw a massive inflow earlier today, resulting in a 52.6% intraday rise. Trending Stories Despite this, the sellers had almost destroyed the bullish gains and the price chart was left with a long-wick rejection. The coin price dropped below the $0.25 resistance and currently trades at the $0.244 mark.Thus, if the daily candle closes below the $0.25 resistance, the prices will likely prolong the ongoing consolidation for a few more trading sessions.On a contrary note, a breakout above the $0.25 barrier will offer buyers an additional footing to pump the prices higher.Technical indicatorRelative Strength Index: a bullish divergence in the daily-RSI slope reflected the increasing buying activity at the $0.21 support.advertisementEMAs: the ongoing downtrend in Stacks coin has made it evident that the 20-and-50-day EMA acts as dynamic resistance and continues to assist selling in extending the price fall,Stacks coin intraday price levelsSpot price: $0.244
Trend: Bullish
Volatility is high
Resistance level: $0.25 and $0.287
Support level – $0.212 and 0.178
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