Lokesh Gupta
06-06-2024
#Stacks has seen a three-day consecutive rise, reaching $2.437, its highest level since May 5th, following the formation of a slanted triple-bottom pattern.
On June 4th, the Falling Wedge Pattern was breached on the daily chart.
Despite trading within a narrow range of $1.8000 to $2.200 for the past month, indicating weak price action, a strong bullish trend reversal occurred this week, leading to a breakout of a significant resistance level.
The Cross EMA 50/200-day suggests a bullish reversal in the price chart, signaling increased positive influence for the $STX coin price in the crypto market.
According to Coingabbar Prediction, If the market sustains the price above the $2.400 support level, Stacks price is poised to challenge resistance levels of $2.800 and $3.150.
Conversely, failure to maintain above support could trigger a decline towards $1.800 in the coming weeks.
KEY LEVELS :
RESISTANCE LEVEL : $2.750-$3.200
SUPPORT LEVEL : $1.800-$1.300
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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