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STACKS coin Price Analysis: Falling candles at present suggests to buy and sell in intraday trading 

STX coin
  • The mainnet for STX 2.0 was launched on 2021
  • STACKS is unique as it offers BTC that miners transfer through Proof of transfers as rewards.
  • RSI for STACKS shows the NEUTRAL action.
Tradingview

The token has formed the pattern of engulfing bearish on 12 August. STACKS sank by 3.15% on Thursday. Following a 2.74% loss on Wednesday, STX ended the day at 1.35. The last known price of this coin is 1.3552 to -4.52% against yesterday. 

A mixed start for the day saw STX fall to an early morning intraday low of $1.3289 (Till time), and the intraday high went to $1.3823.(The intraday high and low could vary in the coming time)

It has the current trading volume(s) of 35,709,710, with a loss of 24.34% over the last 24 hours. 

STX has a total valued locked(TVL-Total assets value currently staked or locked in the protocol.) of 463,173,981, and the market cap/TVL ratio is 3.56.

The holders with the active address(es) are not mentioned. The circulating supply of tokens is 1,214,580,116 STX coins and a max. supply of 1,818,000,000 STX coins.

SMA-20, SMA-50 and SMA-200

The chart above shows the movement of STX where 20 SMA have been running above  SMA-200 and SMA-50. On a four hours time frame of the coin, we see the token with respect to SMA’s, which are 20, 50, and 200. The candles forming now have lost the support of SMA-20 and are likely to rest at SMA-50 in the coming time.

BUY OR SELL?

An RSI oscillator is also present in the chart, which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 46.223 and marks the neutral action. MA-5, MA-10, and MA-20 show the sell action, whereas MA-50, MA-100, and MA-200 show the buy action. However, STX at present is fine to buy for intraday trading.

The bull/bear power has the value of 0.0032 and shows the buy action. The high/low marks the buy action with the value of 0.0044.

The STX-BTC pair is trailing at the level of 0.00003006, and the loss of 3.40% was seen, whereas the STX-ETH pair is at 0.0004352, and the low of 2.54% was seen in the last 24 hours. The volume/market cap of the token is 0.02166, and its market dominance is 0.09%.

Conclusion: 

The token trailed up from $0.8954 to $1.4777 level and then started to sink downwards. At present, the coin is at 1.36, and we could expect a retracement now if one wants to enter STX, then long now for intraday trading.

The days range for the coin is 1.312-1.416. The 24 hours high and low of the coin is 1.42 and 1.31, respectively. The STX ATH is 2.82, and ATL is 0.04501. 

STX ROI (approximate return on investment if purchased at the time of launch) is 1030.48%. 

This is just an assumption. Long the token by the decision of your own thoughts.

Technical Instruments:

Pivot: 1.361

R-1: 1.365

R-2: 1.367 

S:1: 1.357  

S:2: 1.355

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour