Look!! Stacks (STX) price is falling, but still has potential for recovery!

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As of now, the price of Stacks (STX) is $1.71, down 11.73% in the last 24 hours and down a total of 26.06% over the past 7 days. The current market cap is $2.57 billion, with a circulating supply of 1.5 billion STX and a 24-hour trading volume of $439 million, indicating that despite the price drop, market activity remains vibrant.

This decline aligns with the overall market weakness, but STX is still in a long-term bullish ascending channel, with the current price near the support level of $1.70 to $1.80, a region that has historically performed strongly. If the support level holds firm, the price is expected to rebound in the future, targeting up to $10.

Famous analyst Ali Martinez believes that the current price pullback may provide buying opportunities for long-term investors. Although STX encountered resistance near $4.50 and pulled back, such pullbacks are common in an upward trend and could represent a good accumulation opportunity.

The key support level is between $1.75 and $1.78, which is crucial for determining the subsequent movement of STX. If this support level remains effective, the expected rebound target will be between $2.40 and $2.50, with further resistance at $2.80 to $3.00. However, if it drops below $1.75, it may trigger further downside, with support levels at $1.50 and $1.40 respectively.

Momentum indicators show that although there is still bearish pressure in the short term, the declining histogram of the Awesome Oscillator indicates that the selling pressure is weakening. If the $1.75 support is broken, the STX price may rebound to the $2.00 to $2.40 range.

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