STX Technical Analysis: Under $1, Bearish Trend Gains Momentum

STX prices fail to rise above the psychological level of $1 as the crypto market corrects overnights. Will the downtrend continue this week? Key technical points: STX market price decreased 12.32% in the last 24 hours. The market value fails to rise above $1. The 24-hour trading volume of Stacks is $28.96 Million, reflecting a hike of 57%. Past Performance of STX With the EMAs achieving the bearish alignment, the STX prices failed to surpass the 200-day EMA and maintained a downtrend last month. The falling trend deflates the market value of the Stacks token by 45% last month after facing rejection at $1.55 resulting in the psychological level of a $1 breakout. Source-Tradingview STX Technical Analysis STX prices fail to find a support level as the downtrend gains momentum as the entire market faces an overflow of supply. Hence, the $0.90 breakout reflects a potential fall to the $0.80 support. Constant rejections from the 50 EMA following the bearish crossover 100 EMA signify dynamic resistance from the average lines. As a result, the EMAs maintain a falling trend in a bearish alignment. The MACD and the signal line are still able to maintain an opportunity for a possible bullish crossover since the bearish spread remains negligible. But, the current trend lower than $1 will retain the bearish alignment and continue the trend downwards of histograms. The daily RSI slope has a sharp drop off the mid-line and is poised to break...