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Stacks Price Drops 20%, Eyes To Retest $1.2 This November?

The post Stacks Price Drops 20%, Eyes To Retest $1.2 This November? appeared first on Coinpedia Fintech News

The cryptocurrency market has experienced a significant pullback this week due to the rising uncertainty concerning the possible outcome of the upcoming U.S. election in 2024. Following this, the Stacks price has recorded a major price correction, highlighting increased bearish sentiment.

With the Decentralized Finance market constantly struggling to regain momentum, is this a good time to add Stacks crypto token to your portfolio? Read our in-depth research to explore the potential short-lived price targets of the Stacks (STX) token.

STX Coin Price Hints At A Bullish Reversal?

Amid increased price uncertainty, the Stacks crypto price has recorded a strong bearish pullback over the past few days. Notably, it has dropped 19.36% over the past week and 15.76% during the past 30 days. With a market cap of $2.273 billion, it has secured the 34th position.

STX Coin Price Hints At A Bullish Reversal?

The Relative Strength Index (RSI) has successfully retested its oversold range in the 1D time frame. This indicates an increase in the buying-over-selling pressure for the altcoin in the crypto market.

However, the SMA indicator constantly acts as a resistance to the Stacks price chart. This suggests a mixed price sentiment for the altcoin this week.

Will STX Price Retest $2 Soon?

If the bullish sentiment resurfaces, this could result in the Stacks price retesting its resistance level of $1.675 in the upcoming time. Maintaining the price above that level could set the stage for it to head toward its upper resistance level of $2.135 this month.

On the contrary, an intensified bearish action could pull the STX coin price toward its crucial support level of $1.230.

Wondering about the long-term sentiment for this DeFi project? Read our Stacks (STX) Price Prediction article!

FAQs

What is the price of Stacks?

At the time of writing, the value of 1 STX token was $1.513.

Is STX a good buy now?

This project is a unique Bitcoin layer smart contract, making it a fundamentally strong project from the long-term perspective.

What is STX’s prediction for 2025?

The Stacks coin price may hit a high of $4 during 2025.

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