#STX #Stacks

Stacks (STX) is a blockchain-based cryptocurrency project that aims to create a decentralized computing network on top of the Bitcoin blockchain. The Stacks project enables developers to create smart contracts and decentralized applications (dApps) using familiar programming languages like JavaScript and Python.

The Stacks blockchain uses a unique consensus mechanism called Proof-of-Transfer (PoX). PoX allows Stacks to leverage the security of the Bitcoin blockchain by periodically recording the state of the Stacks network onto the Bitcoin blockchain. This ensures that the Stacks network is highly secure and resistant to attacks.

One of the key features of the Stacks project is its focus on empowering end-users by enabling them to own and control their data. Stacks achieves this through a unique technology called "Gaia," which is a user-controlled decentralized storage system. With Gaia, users can store their data on the Stacks blockchain and control who has access to it.

Another significant aspect of the Stacks project is its commitment to sustainability and decentralization. Unlike many other blockchain-based projects that rely on large, centralized mining operations, Stacks has designed its PoX consensus mechanism to enable anyone to participate in securing the network using their existing Bitcoin holdings.

The Stacks project has gained significant traction in recent years, with a growing community of developers and supporters who are excited about its potential to revolutionize the way we think about blockchain-based applications. With its unique approach to decentralization, security, and sustainability, Stacks (STX) is poised to become an important player in the world of cryptocurrency and blockchain technology.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Stacks is down -10.21% today against the US Dollar

STX/BTC decreased by -9.78% today

STX/ETH decreased by -12.44% today

Stacks is currently trading 7.30% below our prediction on Dec 27, 2023

Stacks gained 117.00% in the last month and is up 483.00% since 1 year ago

Stacks price $ 1.33 Stacks prediction $ 1.44 (8.43%) Sentiment Bullish Fear & Greed index 74 (Greed) Key support levels $ 1.37, $ 1.33, $ 1.25 Key resistance levels $ 1.50, $ 1.58, $ 1.62

STX price is expected to rise by 8.43% in the next 5 days according to our Stacks price prediction

Stacks price today is trading at $ 1.33 after losing -10.21% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -8.40% in the same time period. STX performed poorly against BTC today and recorded a -9.78% loss against the world’s largest cryptocurrency.

According to our Stacks price prediction, STX is expected to reach a price of $ 1.44 by Dec 27, 2023. This would represent a 8.43% price increase for STX in the next 5 days.

STX Price Prediction Chart

Buy/Sell Stacks

What has been going on with Stacks in the last 30 days

Stacks has been displaying a positive trend recently, as the coin gained 117.00% in the last 30-days. The medium-term trend for Stacks has been bullish, with STX increasing by 180.00% in the last 3 months. The long-term picture for Stacks has been positive, as STX is currently displaying a 483.00% 1-year price change. On this day last year, STX was trading at $ 0.228424.

Stacks reached its all-time high price on Oct 10, 2021, when the price of STX peaked at $ 3.31. The current STX cycle high is $ 1.56, while the cycle low is at $ 0.199932. STX has been displaying high volatility recently – the 1-month volatility of the coin is at 24.11. Stacks recorded 19 green days in the last 30 days.

Stacks technical analysis for today - Dec 22, 2023

The sentiment in the Stacks markets is currently Bullish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 1.37, $ 1.33 and $ 1.25, while $ 1.50, $ 1.58 and $ 1.62 are the key resistance levels.

Bullish sentiment for Stacks

29 indicators are currently signaling a bullish prediction for Stacks, while 3 indicators are showing a bearish forecast. With 91% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Stacks.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 74 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Stacks moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Stacks is positioned in the market right now.

Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential MA3 $ 1.33 (BUY) $ 1.08 (BUY) - - MA5 $ 1.28 (BUY) $ 1.05 (BUY) - - MA10 $ 1.09 (BUY) $ 0.982891 (BUY) - - MA21 $ 1.02 (BUY) $ 0.879755 (BUY) $ 0.693708 (BUY) $ 0.682534 (BUY) MA50 $ 0.810887 (BUY) $ 0.755210 (BUY) $ 0.636426 (BUY) $ 0.638577 (BUY) MA100 $ 0.669193 (BUY) $ 0.675371 (BUY) $ 0.012763 (BUY) $ 0.606366 (BUY) MA200 $ 0.627850 (BUY) $ 0.630958 (BUY) $ 0.083752 (BUY) $ 0.098203 (BUY)

Period Value Action RSI (14) 69.53 NEUTRAL Stoch RSI (14) 86.36 SELL Stochastic Fast (14) 84.81 SELL Commodity Channel Index (20) 66.67 NEUTRAL Average Directional Index (14) 45.28 BUY Awesome Oscillator (5, 34) 0.29 NEUTRAL Momentum (10) 0.46 NEUTRAL MACD (12, 26) 0.03 NEUTRAL Williams Percent Range (14) -15.19 SELL Ultimate Oscillator (7, 14, 28) 58.61 NEUTRAL VWMA (10) 1.16 BUY Hull Moving Average (9) 1.28 BUY Ichimoku Cloud B/L (9, 26, 52, 26) 1.09 NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Stacks is at 69.53, suggesting that STX is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Stacks over the last 50 days. Currently, Stacks is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the STX closing price for the last 200 days. STX is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Stacks prediction

After considering the above factors, we can conclude that the current forecast for Stacks price prediction is Bullish. STX would have to increase by 8.43% to hit our $ 1.44 target within the next five days. Moving forward, it will be important to monitor the STX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Stacks price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Stacks, a layer 2 network, and the native token of Stacks Network surged by 27% on December 21, 2024, after a series of positive comments from the legendary investor Tim Draper. In a recent interview, Draper commented that he was excited by the developments in Stacks.

He also compared Bitcoin with Microsoft in the sense that it is a platform for users to create various things. Microsoft had clipart, Word, Excel, PowerPoint, and so on., while Bitcoin has various things like NFTs, DeFi, and smart contracts.

“Most of what I've been investing in has been things that start to move the important applications over to Bitcoin. So I think that's a really interesting trend, and we're thinking it's going to go the way Microsoft did.”

Stack's impressive 2023

The native token, which was distributed through the first-ever Securities and Exchange Commission (SEC)-approved token offering in the United States in 2019, has gained popularity in recent months after the introduction of Bitcoin-based NFT projects such as Bitcoin Ordinals.  According to data from DefiLlama, Stacks currently has funds locked, which have increased from $7 million to $50 million since the start of 2023. 

As for $STX price, the token, which opened the year at $0.21, is now trading at $1.42, the highest price recorded since February 2022.

Looking forward

Draper, who had previously forecasted Bitcoin to reach $250,000 by 2022, has, in a recent interview, revised the timeline for this prediction, extending it to 2025. He added that the strategic consolidation that is happening around the Bitcoin network and its ability to currently scale the $43,000 price to altoins is an indication that there is a slow and steady movement of all applications towards Bitcoin.

While he likened the trend to that of Microsoft, Draper espoused that Stacks is benefiting from the changes in technology that now foster faster transactions than the usual traditional Mastercard.

Draper was thrilled by the potential of Bitcoin smart contracts to attract more investors, streamline investor-employee payments, and handle taxes and other accounting issues. He dubbed this "the new economy".

The Stacks (STX) price has fallen since reaching a yearly high in March but is showing signs that the correction might come to an end.

Even though the price trades in a middle of a long-term range, the wave count suggests that the correction is nearly complete. As a result, a sizeable bounce may follow soon.

Stacks Price Falls After Rejection From Range High

The price of STX has risen since the start of the year, as indicated by the weekly chart. In January, it broke through a resistance line that had been in place since the all-time high.

Breakouts from such long-term structures usually indicate that the previous correction has ended. After the breakout, the price increased by nearly 400% in 63 days, leading to a new yearly high of $1.31 in March.

However, the price has fallen since, validating the resistance area at an average price of $1.15. It is now trading in the middle of a range between $0.50 and $1.15.

The weekly Relative Strength Index (RSI) indicator gives an undetermined reading.

When evaluating market conditions, traders use the RSI as a momentum indicator to determine whether a market is overbought or oversold and whether to accumulate or sell an asset.

If the RSI reading is above 50 and the trend is upward, bulls still have an advantage, but if the reading is below 50, the opposite is true. The RSI is above 50 but decreasing, a sign of an undetermined trend.

STX Price Prediction: Is Another High on the Horizon?

The technical analysis from the daily time frame shows that the STX price could be nearing the end of its short-term correction.

Firstly, the price seems to have completed wave four of a five-wave upward movement (black) that began in November 2022. The move ended at the 0.618 Fib retracement support level.

Technical analysts employ the Elliott Wave theory as a means to identify recurring long-term price patterns and investor psychology, which helps them determine the direction of a trend.

While Fibonacci retracement levels suggest that after a considerable price movement in one direction, the price will retrace or go back partially to a previous price level before continuing in its original direction.

These two indicators suggest that the price will resume its increase toward a new yearly high. The first potential target for the future price high is at $1.70, created by the 1.61 external Fib retracement of the most recent drop.

Despite these readings, a decrease below the wave one high (red line) at $0.38 will invalidate this bullish STX price forecast. In that case, a decrease toward $0.22 will follow.

#Stacks #Binance #crypto2023 #crypto #cryptotrading

According to Foresight News, Pyth Network has announced the full deployment and launch of its price feed services on the Bitcoin smart contract platform, Stacks. Stacks developers can now access over 400 real-time price feeds for digital assets, forex pairs, ETFs, commodities, and stocks in their applications without permission.