Stacks Crypto in Freefall? Bearish Indicators Point to Steeper Declines Ahead!

In recent trading sessions, the #Stacks crypto price has shown a clear bearish trend on the 4-hour chart. Analyzing the closing prices reveals a consistent decline. This downward movement is further supported by the 9 and 20 Exponential Moving Averages (EMAs), which have also been trending lower. Additionally, the gap between the 9 EMA and 20 EMA indicates a bearish crossover, suggesting continued downside pressure.

The Moving Average Convergence Divergence (MACD) indicator further confirms the bearish outlook. The MACD line has consistently been below the signal line. Meanwhile, the histogram shows increasing negative values, indicating that the bearish momentum is strengthening.

The Relative Strength Index (RSI) also signals bearish conditions, with readings remaining below the neutral 50 level This suggests that $STX is in oversold territory, which could lead to a short-term rebound, but the overall trend remains negative.

Support Levels: The immediate support levels for the Stacks crypto are at $1.816 and below, with further support expected around the psychological level of $1.800. If these levels fail to hold, the pair could see a more significant decline.

Resistance Levels: On the upside, STX faces resistance at $1.973, followed by $2.004 and $2.015. A break above these levels would indicate a potential reversal of the current bearish trend. #altcoins #TrendingPredictions #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.