The Stacks token has experienced a couple of profitable sessions. As a result, it has climbed to the second spot on today’s list of top crypto movers, following a 12.10% price increase. Let’s take a closer look at the price action below.
Stacks Statistics
STX Current Price: $0.704
Market Capitalization: $1.08B
Circulating Supply: 1.52B
Total Supply: 1.52B
CoinMarketCap Rank: 61
Key Price Levels
Resistance: $0.7500, $0.8000, $0.8500
Support: $0.7000, $0.6500, $0.6000
STX/USDT Stays Green for the Second Consecutive Session
Since the previous session, the Stacks token has been retracing upward. The ongoing session on the 24-hour chart has remained in the green. Moreover, bullish momentum appears to have strengthened, as reflected by the size of the current price candle. As a result, the market now stands above both the 20- and 50-day Moving Average (MA) lines.
Similarly, the Stochastic Rate of Change (SROC) indicator is currently below the equilibrium level, but the latter part of the curve is sharply sloping upward. This affirms the presence of upward momentum in the market.
Stacks Tries to Stay Above the $0.700 Threshold
The STX/USDT 4-hour chart clearly shows that price action has overcome resistance posed by the MA lines. In addition, the token is now trading above the psychological $0.7000 level, further supporting the bullish outlook.
The last candle on the chart is a red spinning top, which typically signals market indecision or resistance at higher levels. Nonetheless, the SROC lines maintain a steep upward trajectory above the equilibrium line, indicating sustained bullish momentum.
Although the trend may extend toward the $0.7500 and $0.8000 levels, traders are advised to remain cautious due to the possibility of short-term pullbacks.
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