Following the rounding bottom breakout, the bullish reversal in the STX price trend is crossing off multiple resistances with ease. As the uptrend approaches the $3 mark, the overall market recovery boasts the confidence of Stacks holders, projecting a potential uptrend continuation.
Further, the breakout retest As the buying pressure for the altcoin surges, our STX price prediction projects a bullish year crossing the double-digit mark.
Stacks Approaches $3 With Rising Momentum
Amidst the growing bullishness in the market, the STX price is being the top performer in the Top 100 coins. With a 20% overnight jump, the altcoin displays a nonstop bull run, accounting for a jump of 78% in the last eleven days.
Source – TradingView
Leading to eleven bullish candles in a streak, the STX price bullish reversal forms a new 52-week high. Currently, the HNT price trades at $2.665 with an intraday jump of 3.75%, continuing the uptrend of last night’s jump.
With the ongoing bull run facing almost no resistance at any of the fib levels, the underlying demand is rising. Supporting this view, the uptrend finds a significant rise in the intraday trading volume.
Technical Indicators:
MACD Indicator: A positive trend in the MACD and signal lines supports the rising STX price.
Bollinger Bands: The Stacks uptrend crosses above the upper band, signaling a high momentum rally in play.
Also Read: Here’s What Next For Cardano (ADA) & Ripple (XRP) Price As Crypto Market Gains Momentum
How High Will The STX Price Go?
With the supersonic bullish reversal and the rising trend in the trading volume, the STX price is heading to forming a new 52-week high this week. As per the trend-based Fibonacci level, the price action projects a potential target at the $3.37 mark for a 25% jump.
Sohrab Khawas
Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he’s trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he’s not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
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