#STXUSDT Technical Analysis: Opportunity Awaits at the $2.00 Breakout
$STX
Currently, STX/USDT is trading at $1.824 on the 1-hour timeframe and $1.823 on the 4-hour timeframe, both above the 200-period SMA, indicating a bullish trend. Immediate support is at $1.75, with stronger support at $1.60, while key resistance levels are at $1.90 and $2.00. The price is also above both the 50-period and 200-period SMAs on both timeframes, suggesting sustained bullish momentum.
The 1-hour RSI is at 44.73, indicating room for upward movement, and the 4-hour RSI is at 59.49, showing moderate bullish momentum. The MACD on the 1-hour timeframe shows a potential shift in momentum, while the 4-hour MACD indicates bullish momentum.
The VWAP values are $1.843 (1-hour) and $1.844 (4-hour).
The $2.00 level is a significant psychological resistance, and a breakout above this level could trigger substantial upward momentum, attracting more buyers. Monitoring the price action closely around $2.00 is essential for identifying potential trading opportunities.
Disclaimer: Trading cryptocurrencies involves substantial risk and may not be suitable for all investors. This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a professional before making any trading decisions.
