{"id":376604,"date":"2025-02-28T14:26:22","date_gmt":"2025-02-28T08:56:22","guid":{"rendered":"https:\/\/dripp.zone\/news\/can-stacks-stx-defy-the-broader-markets-downturn-after-this-breakout-crypto-news\/"},"modified":"2025-02-28T14:30:11","modified_gmt":"2025-02-28T09:00:11","slug":"can-stacks-stx-defy-the-broader-markets-downturn-after-this-breakout-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/can-stacks-stx-defy-the-broader-markets-downturn-after-this-breakout-crypto-news\/","title":{"rendered":"Can Stacks (STX) defy the broader market&#8217;s downturn after THIS breakout? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">STX remains in a broader downtrend below key EMAs, with immediate support at $0.74 and a deeper support zone around $0.55\u2013$0.57.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">A daily close above $0.92 (20 EMA) plus an RSI move above 50 could signal a short-term reversal<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/blockstack-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Stacks (STX)<\/a>, at press time, aligned with the broader crypto market\u2019s downturn and witnessed a sustained downtrend since peaking at around $2.5 in December 2024. Each peak since that top has been lower than the last. In fact, the price is right now below the 20 EMA, 50 EMA, and 200 EMA \u2013 Typically a strong bearish sign.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, STX was trading at around $0.861 \u2013 Up by nearly 8% over the past day.\u00a0<\/span><\/p>\n<h2><strong>Can the recent rebound set the stage for a recovery?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The 20 EMA (exponential moving average) at around $0.92 was the closest dynamic resistance for the price. Price was trying to approach or topple it. A daily close above this could signal a short-term shift in momentum.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, the 200 EMA is a reliable indicator of long-term trends. STX seemed to be well below it, so the long-term price structure will remain bearish unless the price can break above and sustain this zone.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Going forward, the immediate support at around $0.74 will be crucial for gauging STX\u2019s trajectory.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The broader market sentiment may weaken further due to uncertainty surrounding crypto exchanges after Bybit\u2019s $1.4 billion ETH hack. If STX follows the bearish trend, the $0.55\u20130.57 range could offer a deeper support zone.<\/span><\/p>\n<div id=\"attachment_470986\" style=\"width: 2858px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Binance-USD\u24c8-M-Perp_STXUSDT_2025-02-27_21-24-56.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-470986\" class=\"wp-image-470986 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Binance-USD\u24c8-M-Perp_STXUSDT_2025-02-27_21-24-56.png\" alt=\"\" width=\"2848\" height=\"1558\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Binance-USD\u24c8-M-Perp_STXUSDT_2025-02-27_21-24-56.png 2848w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Binance-USD\u24c8-M-Perp_STXUSDT_2025-02-27_21-24-56-300x164.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Binance-USD\u24c8-M-Perp_STXUSDT_2025-02-27_21-24-56-1024x560.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Binance-USD\u24c8-M-Perp_STXUSDT_2025-02-27_21-24-56-768x420.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Binance-USD\u24c8-M-Perp_STXUSDT_2025-02-27_21-24-56-1536x840.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Binance-USD\u24c8-M-Perp_STXUSDT_2025-02-27_21-24-56-2048x1120.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Binance-USD\u24c8-M-Perp_STXUSDT_2025-02-27_21-24-56-1200x656.png 1200w\" sizes=\"auto, (max-width: 2848px) 100vw, 2848px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-470986\" class=\"wp-caption-text\">Source: TradingView, STX\/USDT<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">The daily chart revealed a descending channel (or wedge) from the top of near $2.7 to recent lows. If the price sustains above this channel, it can lead to a well-needed rebound. However, for a more convincing reversal, STX must break above its key moving averages and sustain higher lows.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The RSI was just under 40 on the chart, below the midline (50) \u2013 Indicating that sellers still have the upper hand overall.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A move above RSI 50 would coincide with bullish price action, so keep an eye out for that as a confirmation signal. With RSI seeing a bullish divergence with the price action, a stronger near-term rebound might be probable.<\/span><\/p>\n<h2>What to look for next?<\/h2>\n<p><span style=\"font-weight: 400;\">Traders should look for the price to close above $0.92 (20 EMA). That would be an early sign of bullish momentum returning.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Reclaiming $1.14\u2013$1.20 (50 EMA + major horizontal zone) would be a stronger statement that the downtrend is weakening.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a bearish market, rallies into key EMA or horizontal resistance zones often attract sellers. If you\u2019re looking to trade a rebound, keep an eye on volume and whether the price can hold above-reclaimed levels, rather than simply wicking above them.<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\n\t\t\t\t\t\t\t\t\t\t\tNext: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/solanas-volume-tanks-by-99-why-strong-accumulation-is-crucial-now\/\" rel=\"prev\" data-wpel-link=\"internal\">Solana\u2019s volume tanks by 99% \u2013 Why strong accumulation is crucial now<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>STX remains in a broader downtrend below key EMAs, with immediate support at $0.74 and a deeper support zone around $0.55\u2013$0.57. A daily close above $0.92 (20 EMA) plus an RSI move above 50 could signal a short-term reversal Stacks (STX), at press time, aligned with the broader crypto market\u2019s downturn and witnessed a sustained [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":376607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-376604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/376604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=376604"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/376604\/revisions"}],"predecessor-version":[{"id":376610,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/376604\/revisions\/376610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/376607"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=376604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=376604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=376604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}