Stacks (STX) Rises 40%, Becomes Top Gainer Out of Top 50 Coins

• STX outperformed every other cryptocurrency in the top 50 and rose above the $1 threshold.
• The token was overbought, but the support at $0.83 could prevent it from plunging. 
• If BTC reclaims $42,000, STX’s potential retracement may not last long.

The price of Stacks (STX) increased by 40.64% in the last 24 hours as the broader market rally continued to hold. STX’s price was $1.20 at the time of writing, CoinMarketCap data revealed. This value represents a 90.53% hike in the last seven days, making it the 43rd most valuable cryptocurrency per market cap and the best performer out of the top 50.

STX Price Analysis

An assessment of STX’s technical side showed that there is a strong wave of bullish sentiment. This optimism was also followed by a surge in volatility, based on indications from the Bollinger Bands (BB).

While there was support at $0.76 and $0.83, STX risked ruining the gains of current holders. This is because the upper band of the BB touched the STX price at $1.19. A position of this nature is considered overbought.

So, there is a possibility of STX dropping below $1. That is, if profit…

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