STX Price EXPLODES 42% in Hours – Moonshot Target: $1.79!

As our previous STX price analysis predicted, the Stacks market price reclaims the $1 mark with a strong breakout rally. Ranking highest amongst the daily gainers, the 40th biggest crypto per market cap shows a remarkable jump within 24 hours. 

With a 90% growth in the last seven days, the buyers continue to line up for Stacks and increase the trend momentum. Therefore, the STX price prediction projects a high likelihood of uptrend continuation in the coming months. 

Source – TradingView

With a double bottom reversal, the STX price trend enters a bullish chain reaction rally to scale remarkable growth in the last seven days. Leading to a rounding bottom reversal, the Stacks coin price reclaims the $1 mark and teases the overhead resistance breakout at $1.21. 

Further, the rising trend in the intraday trading volumes supports the streak of multiple bullish candles, reflecting strong demand. The Stacks uptrend is ready to challenge the 52W high at $1.3250, intending to end 2023 on an even higher note. 

Trading at $1.2266, the STX price shows an intraday growth of 4.55% and teases the $1.21 breakout and a new 52W high formation. Considering the altcoin sustains bullish momentum, it can enter a new chain reaction of breakout rallies to cross $1.50.

Technical Indicators:

RSI Indicator: The daily RSI line picks up speed as the recovery rally gains bullish momentum. Crossing the 14-day SMA and nearing the halfway mark, the momentum indicator supports the ongoing rally. 

Will The STX Price Reach $1.50?

The STX price is gaining momentum with a rounding bottom reversal, setting the stage for a prolonged recovery rally. Additionally, the long-term trend is teasing a new run above $1.32 with the $1.21 breakout. Therefore, the likelihood of a series of bullish breakouts is increasing.

Beyond $1.32, a new 52W high is possible above the psychological mark of $1.50. The next resistance at $1.79 is present beyond $1.50.

Conversely, a bullish failure to cross $1.50 will retest the $1.20 breakout.