STX Technical Analysis: Buyers Finally Surpass The Formidable Trendline

STX coin price shows a bullish recovery surpassing the long-coming trendline. Will this breakout shape a new upside trend? Key technical points: STX prices gained 25% in the last ten days. Next, the altcoin prices struggle to surpass the 200-day EMA. Finally, the 24-hour trading volume of Stacks is $99 Million, marking a 49% rise. Past Performance of STX STX coin price action shows a long coming resistance trendline in the daily chart that has crushed multiple bullish recoveries. However, the recent reversal from the $1 mark brings the buyers back in control and helps surpass the resistance trendline. The recovery accounts for a 50% jump in the last three weeks. Source-Tradingview STX Technical Analysis STX prices show a rounding bottom pattern breakout with a neckline at $1.55. The price action shows the breakout candle surging above the neckline and the resistance trendline confluence. The crucial daily EMAs (50, 100, and 200-days) maintain a bearish alignment as the price climbs higher. Moreover, the bullish recovery brings a reversal in the EMAs that may shortly result in crossovers. RSI Indicator: The RSI slope continues the diagonal uptrend with the support of a 14-day SMA. Hence, the indicator reflects a solid uptrend with the potential of crossing the $2 mark. MACD Indicator: The MACD and signal lines maintain a minimum spread as they surpass the zero value mark. However, the falling trend in bullish histograms highlig...