STX Price Prediction: Stacks Market Cap Touches $3 Billion, Eyes 30% Upside

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Following the dragging phase near the 50-day EMA, the Stacks buyers finally regain the bullish momentum as the market bounces back. With Bitcoin closer to $50K after a brief touch, the STX price displays a stretched bull run, picking up additional momentum. 

As the sentiments improve with increased investors’ confidence, the Stacks market cap crosses the $3 Billion mark and showcases a rise in trading volume. As the buying pressure for the altcoin surges, our STX price prediction projects a bullish year crossing the double-digit mark. 

STX Price Enters The $2 Arena, Eyes 30% Upside

With 9 consecutive bullish candles, the STX price shows a sharp turnaround in the daily chart. Further, the Stacks coin price shows a rounding bottom reversal as it bounces from the 50-day EMA, leading to a bullish breakout. 

Source – TradingView

Currently, the HNT price trades at $2.11 with an intraday fall of 0.84% with a higher price rejection candle. However, the pullback comes as a retest of the rounding bottom breakout with a surge in trading volume. 

Further, the trend-based Fibonacci level projects a high likelihood of a bullish trend as the demand for the altcoin surges. 

Technical Indicators:

DMI Indicator: A positive trend in the ADX line shows a spike in the underlying trend momentum. Hence, the indicator teases a sharp uptrend with this breakout. 

EMA: The bullish trend in the 50-day and 200-day EMA represents an uptrend in motion.

How High Will The Stacks Price Go?

With the bullish breakout and the rising trend in the trading volume, the STX price is showcasing a bull run in motion. Further, the trend-based Fibonacci level projects a potential target at the $2.77 mark, accounting for a 30% potential jump this month. 

On the flip side, the downside risk stands with the ongoing retest of the $2 breakout.