Earlier today, $0.335, the Stacks coin’s price, witnessed a massive pump. The prices could not sustain the higher price and the price reversed immediately, leaving a long-lasting rejection candle. The altcoin is still struggling to regain the $0.25 resistance. This indicates that the selling pressure continues. Key points: The coin graph shows a strong trend.
CoinGape’s first post, Rising Stacks (STX) Price Needs This Breakout To Bolster Further Rally appeared originally on CoinGape.

  

Earlier today, $0.335, the Stacks coin’s price, witnessed a massive pump. The prices could not sustain the higher price and the price reversed immediately, leaving a long-lasting rejection candle. The altcoin is still struggling to regain the $0.25 resistance, which indicates that the selling pressure continues.
These are the key points

The coin chart shows a strong accumulation area below $0.21
The Stacks coin would continue its downtrend until the resistance line is intact.
The STX’s intraday trading volume is $80 million, which indicates a gain of 1146.05%

Source- Tradingview
Stacks coin dropped to a new low of $0.21 in the crypto market after the sell-off last week. This altcoin recovered from $0.21 support twice in a week, despite the uncertainty in the market.
The second bullish reversal saw a long-wick rejection at $0.21, which indicates that buyers are actively buying at this level. Additionally, earlier today, the Stacks currency price saw a massive inflow, resulting in a 52.6% intraday increase.
However, the bullish gains had been nearly wiped out by the sellers at 2:07 EST. The price chart was left with a long-wick rejection. The coin price fell below the $0.25 resistance, and is currently trading at the $0.244 level.
If the daily candle closes below $0.25 resistance, the prices are likely to prolong the ongoing consolidation for a few trading sessions.
Contrary to popular belief, a break above the $0.25 threshold will give buyers additional support to push prices higher.
Technical indicator
Relative Strength Index: A bullish divergence of the daily-RSI slope reflected increasing buying activity at $0.21 support.
EMAs: The ongoing downtrend in Stacks Coin has made it clear that the 20- and 50-day EMA acts like dynamic resistance and continues selling in extending price fall.
Stacks coin intraday price levels

Spot price: $0.244
Trend: Bullish
Volatility is high
Resistance level: $0.25 and $0.287
Support level – $0.212 and 0.178

CoinGape’s first post, Rising Stacks (STX) Price Needs This Breakout To Bolster Further Rally appeared originally on CoinGape.