Technical Analysis of #STMX/USDT
As of now, STMX/USD is trading at $0.00865. On the 4-hour chart, the price is above the 200-period moving average (MA) at $0.00610, indicating potential mid-term bullish momentum. The RSI is neutral at 51.33, and the MACD shows a bearish crossover, suggesting potential short-term bearish momentum. On the 1-hour chart, the price is slightly below the 200-period MA at $0.00868, with the RSI at 56.20 and a recent bullish
MACD crossover indicating possible upward movement.
Key support levels are $0.00800 and $0.00750, while resistance levels are $0.00900 and $0.00950. The recent price action has shown a break above a descending trendline, facing resistance around $0.00900.
Using Fibonacci retracement from the recent high at $0.01000 to the low at $0.00650, the 38.2% retracement level is at $0.00845, acting as immediate support, while the 61.8% retracement level at $0.00905 is immediate resistance.
If STMX/USD sustains above $0.00868 and breaks the $0.00900 resistance, it could target $0.00950 and higher. Conversely, falling below $0.00800 may see the price targeting $0.00750 and lower.
Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency trading involves significant risk. Consult a financial advisor before making any investment decisions.
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