In this Stacks technical analysis, we will examine the current price action, trading volume, key levels and indicators for STX-USDT. Stacks (STX) is a blockchain-based platform that enables the creation and management of decentralized applications (dApps) with ease. It utilizes a novel consensus algorithm called Proof of Transfer (PoT), which allows for faster transaction finality and lower energy consumption compared to traditional proof-of-work (PoW) algorithms. Additionally, Stacks features a unique “Nano-block” structure that enables the platform to support a high volume of transactions per second while maintaining security and decentralization.
Stacks Price Overview:
As of May 17, 2024, Stacks is trading at approximately 2.0593 USDT. Let’s dive into the detailed price action for STX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.9807 |
| High (H) | 2.0802 |
| Low (L) | 1.9 |
| Close (C) | 2.0593 |
| Volume (C) | 11,537,155.80 |
- Open (O): The opening price for today’s trading session was approximately 1.9807 USDT.
- High (H): Stacks reached a daily high of around 2.0802 USDT.
- Low (L): The daily low for STX-USDT was approximately 1.9 USDT.
- Close (C): At the time of analysis, Stacks is trading near its daily close of 2.0593 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 4.01% |
| 3D Change (%) | 8.61% |
| 7D Change (%) | 2.67% |
| 30D Change (%) | -8.92% |
| 90D Change (%) | -18.75% |
| YTD Change (%) | 37.51% |
Over the past three days, STXUSDT has increased by approximately 8.61%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 2.67%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with STXUSDT maintaining a downward trend of approximately -8.92%, despite intermittent fluctuations. Examining the last 90 days, STXUSDT has witnessed substantial drop of approximately -18.75%, reflecting strong long-term confidence. Year-to-date, STXUSDT has steadily increased by around 37.51%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Stacks Live Chart:
You can access a live price chart for STX-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 1.00367.
- Momentum score is -0.20195.
STX USDT Technical Analysis
Stacks Trading Volume:
The trading volume for Stacks (STX) over the past 24 hours has been significant, with approximately 11,537,155.80 USDT traded against STX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): STX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Stacks is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for STX-USDT is currently in the low zone, around 43.91686. This suggests that Stacks is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Stacks (STX-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Assess Stacks’s (STXUSDT) risks at 2.06 USDT with bearish technical analysis, highlighting weakened support and cautionary indicators.
Take the next step in your exploration by delving into our detailed insights on STX BTC Stacks Technical Analysis; it’s a natural follow-up if you enjoyed this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.