- 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 7-Day Performance (Source: CoinMarketCap)
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…
The post Stacks (STX) Rises 40%, Becomes Top Gainer Out of Top 50 Coins appeared first on Coin Edition.