Currently, the price of STX is $1,964. On the daily chart, the price of this altcoin dropped to $1.05 during the August 5 crash. However, the formation of an inverted head and shoulders pattern seems to have changed everything for this token.

An inverted head and shoulders pattern is a bearish to bullish reversal where buyers take advantage of seller fatigue. This eventually leads to an upward price move.

As of this writing, STX is facing resistance at $2. However, the support level at $1.73 suggests that it may not take long for this altcoin to recover.