Stacks (STX) Continues Solid Advance With 134% Gain In The Last 7 Days

Stacks (STX) continues to outperform other cryptocurrencies in the top 100 list of CoinMarketCap and Coingecko, as the Bitcoin Layer 2 project advances to profit from the Ordinals buzz. Since rebounding from the 20-day EMA on February 17, the cryptocurrency continues its strong ascent through the weekend.

Timeline of Stacks

STX, the cryptocurrency that power's the Stacks protocol, a layer-2 scaling solution built on top of Bitcoin that aims to bring smart-contract programmability to the Bitcoin ecosystem, is pulling back on Monday after seeing a big pump on Sunday. STX/USD was last changing hands around $0.5750, down around 8% on the day and lower by around 30% versus the nine-month highs it hit earlier in the session in the $0.84 area.

Earlier today, the Stacks coin price witnessed a huge pump and reached $0.335. However, the prices couldn't sustain the higher price and reversed immediately, leaving a long higher price rejection candle.

Be[In]Crypto analyzes the price movement for seven different cryptocurrencies, including Stacks (STX), which is in the process of validating the $0.42 area as support. The post Stacks (STX) Creates Higher Low After Sharp Rally: Multi-Coin Analysis appeared first on BeInCrypto.

Stacks (STX) has broken out from a bullish long-term pattern after the RSI generated significant bullish divergence. The post Stacks (STX) Breaks out From 221-Day Descending Wedge appeared first on BeInCrypto.

STX price shows a consolidation rally struggling to continue due to the high supply pressure near the resistance trendline.  Key technical points: The STX market value decreased by 4.29% today at press time.

STX has been trading at a significant discount from its $3.25 high that it achieved in December last year. However, it looks like the tides are about to shift in favor of the bulls, now that it is in a critical support zone.