STX Technical Analysis: New Bull Cycle Hints 20% Surge In STX

The STX coin price rebounds from the $1.18 support with a massive pump in trading volume. Will $14.6 be your next target? Key technical points: The symmetrical triangle patterns govern the STX price action The potential bullish reversal would soar the Stacks coin price by 20% Finally, the 24-hour trading volume of Stacks is $95.5 Million, marking a 1044% rise. Past Performance of STX Over the last two months, the STX coin price has been wobbling in a symmetrical triangle pattern. Amid the recent sell-off, the altcoin reverted from the $1.5 and tumbled by 28%. However, the ascending trendline of the price pattern prevented any further losses and sustained the coin above the $1.1 mark. Source-Tradingview STX Technical Analysis STX price rebounded from the support trendline with a bullish engulfing candle. As a result, the coin price presented a 15% gain around the early hours; however, a sudden selling pressure lowered the price, with a long-wick rejection. A bearish sequence among the downsloping EMAs(20, 50, 100, and 200) indicated a solid bearish trend. Moreover, a 200-day EMA offers a dynamic resistance to the Stacks coin price. RSI Indicator: The RSI slope is on the verge of entering the bullish territory. This crossover would indicate a positive turn in market sentiment. MACD Indicator: The narrowing gap between the fast and slow lines suggests a potential bullish crossover. This buy signal gives an additional confirmation...