In their latest newsletter, the analytics firm Rekt Capital provided an insightful analysis of the recent movements in Stacks (STX) and Dogwifhat (WIF).
Rekt Capital noted that STX typically develops market structures at its Macro Higher Low. They noted a general pattern where the price consolidates within its major structure, coiling into the apex and approaching the 1.5-year-old Macro Higher Low trendline to seek support.
After establishing this support, STX is positioned to break out from its main market structure.
The firm observed that this year, STX’s price dipped into the Macro Higher Low before initiating a bullish pennant formation.
They also pointed out a recurring behavior upon breakout: STX often closes above the upper limit of the pattern, then dips back to retest this area as support before confirming the breakout and continuing its upward trend.
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In their recent update, Rekt Capital reported that STX had broken out by 14% to the upside. However, they cautioned that historical tendencies suggest a potential dip into the top of the recent pennant might occur to fully confirm the breakout, which would enable subsequent price ascension.
While this retest is not guaranteed, it aligns with previous patterns of downside wicking that typically see quick buying before further upward movement.
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Show more +Show less – Dogwifhat (WIF/USDT) 
The analytics firm also discussed Dogwifhat (WIF), noting that it was coiling towards the apex of its macro market structure, approaching the critical resistance level needed to break and transition from a Macro Downtrend to a new Macro Uptrend.
In their update, Rekt Capital confirmed that WIF has successfully broken out from its macro structure. However, it must establish a macro uptrend first to establish such a move.
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The post Stacks (STX) and Dogwifhat (WIF) Prices Break Out, Uptrend Expected—But There’s a Catch appeared first on CaptainAltcoin.
