In this Stacks (STX) price prediction 2023, 2024-2030, we will analyze the price patterns of STX by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Stacks (STX) Current Market Status
What is Stacks (STX)
Stacks is a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC). These smart contracts are brought to Bitcoin without changing any of the features that make it so powerful, including its security and stability. Stacks is powered by the Stacks token (STX), which is used for fueling the execution of smart contracts, processing transactions, and registering new digital assets on the Stacks 2.0 blockchain. Stacks look to take what makes Bitcoin so powerful, and extend it with additional functionality, without needing to fork or change the original Bitcoin blockchain.
Stacks 24H Technicals
(Source: TradingView)
Stacks (STX) Price Prediction 2023
Stacks (STX) ranks 45th on CoinMarketCap in terms of its market capitalization. The overview of the Stacks price prediction for 2023 is explained below with a daily time frame.
In the above chart, Stacks (STX) laid out a falling wedge pattern. The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. Within this pullback, two converging trendlines are drawn. One of the main features of the falling wedge pattern is the volume, which decreases as the channel converges.
The most commonly falling wedge pattern occurs in a clean uptrend. The price action trades higher, however, the buyers lose the momentum at one point and the bears take temporary control over the price action.
At the time of analysis, the price of Stacks (STX) was recorded at $0.6624. If the pattern trend continues, then the price of STX might reach the resistance levels of $0.5523, $0.8940, and $1.3027. If the trend reverses, then the price of STX may fall to the support of $0.4130.
Stacks (STX) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Stacks (STX) in 2023.
STX/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Stacks (STX) for 2023.
STX Resistance & Support Levels
Stacks (STX) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Stacks (STX) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Stacks (STX) market in 2023.
Stacks (STX) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Stacks (STX) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
STX/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Stacks (STX).
Comparison of STX with BTC, ETH
Let us now compare the price movements of Stacks (STX) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs STX Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of STX is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of STX also increases or decreases respectively.
Stacks (STX) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Stacks (STX) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
Conclusion
If Stacks (STX) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Stacks (STX) price prediction for 2023 is $0.7844. Comparatively, if unfavorable sentiment is triggered, the bearish Stacks (STX) price prediction for 2023 is $0.3400.
If the market momentum and investors’ sentiment positively elevates, then Stacks (STX) might hit $1. Furthermore, with future upgrades and advancements in the Stacks ecosystem, STX might surpass its current all-time high (ATH) of $3.61 and mark its new ATH.
This content was originally published by our partners at The News Crypto.