STX crypto experiences an upward spikeAnalyst, Mister Crypto, tweeted on platform X with optimism that the upper boundary of the falling wedge has been breached for the upside. If the Stacks (STX) crypto manages to attract buying potential, as buyers and investors may step in abruptly, which could burst a massive breakout (DYOR). Mister Crypto also presented his chart drawing, where he highlighted that he expects more than 100% gains.
Upon observing the Stacks (STX) past price chart, it looks evident that the price trend was upward until March 24th, which experienced a substantial increase. However, the trend was reversed after trying hard to sustain few days at higher levels by April 1st, as the price entered a correction phase, forming what seems to be an pure falling wedge pattern.
This wedge pattern was observed as the price plummeted from $3.80 to the $1.75 support level by mid-may, and then consolidation began for nearly one month. By June 4th, the price broke out of the sideways range. Subsequently, the STX price witnessed a pullback and exhibited signs of positivity on the daily chart.
At press time, the STX has traded at $2.1510, with an intraday dip of -3.13%. The MACD indicator displayed a bullish cross with the MACD line at 0.0245, positioned above the zero line with a histogram at 0.0361.
Additionally, the RSI was above the middle line at 51.13, indicating that the momentum has not yet reached the overbought zone; there is still room for potential growth for Stacks Crypto.
If the STX crypto experiences an upward spike, the upper targets would be $3.0 and $3.80. However, if STX fails to maintain a position above the $2.0 level, the price could decline back to the crucial support at $1.30.
