- Bullish STX price prediction for 2023 is $0.6716 to $0.9220.
- Stacks (STX) price might reach $1 soon.
- Bearish STX price prediction for 2023 is $0.3417.
In this Stacks (STX price prediction 2023, we will analyze the price patterns of STX by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency.
Stacks (STX) Current Market Status
| Current Price | $0.5827 |
| 24 – Hour Trading Volume | $78M |
| 24 – Hour Price Change | 7.76% up |
| Circulating Supply | 1,387,637,487.14 |
| All – Time High | $3.6104 (On November 16, 2021) |
STX Current Market Status (Source: CoinMarketCap)
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 (STX) Price Prediction 2023
Stacks (STX) ranks 44th 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.
STX/USDT Descending Triangle Pattern (Source: TradingView)
In the above chart, Stacks (STX) laid out a descending trianglel patternThe descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern.
As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.
Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.
At the time of analysis, the price of Stacks (STX) was recorded at $0.5827. If the pattern trend continues, then the price of STX might reach the resistance levels of $0.6519, $0.8267 and $1.0213. If the trend reverses, then the price of STX may fall to the support of $0.5160.
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 the resistance and support levels of Stacks (STX) for 2023.
| Resistance Level 1 | $0.6716 |
| Resistance Level 2 | $0.9220 |
| Support Level 1 | $0.4771 |
| Support Level 2 | $0.3417 |
As per the above analysis, if Stacks’s (STX) bulls take the lead, then it might hit and break through its resistance level of $1.3139.
Conversely, if Stacks’s (STX) bears dominate the trend, the price of STX might plunge to $0.3567.
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.
STX/USDT RVOL, MA, RSI (Source: TradingView)
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment.
At the time of analysis, the RVOL of Stacks (STX) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the STX price lies below 50 MA (short-term), indicating its downward. Hence, STX is in a bearish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.
At the time of analysis, the RSI of STX is at 44.85. Therefore, this indicates STX is nearly oversold.
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)
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of STX lies in the range of 26.9390 pointing out a strong trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of STX lies above 50, indicating high volatility.
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 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Stacks (STX) between 2024 and 2030.
Stacks (STX) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then Stacks (STX) might successfully test and surpass its resistance levels to hit $4 by 2024.
Stacks (STX) Price Prediction 2025
The significant upgrades in the Stacks ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Stacks (STX) price to reach $6 by 2025.
Stacks (STX) Price Prediction 2026
If Stacks (STX) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $8
Stacks (STX) Price Prediction 2027
If Stacks (STX) sustains major resistance levels and stands as a better investment option in the market, then STX would rally to hit $10
Stacks (STX) Price Prediction 2028
If Stacks (STX) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then STX would hit $12 by 2028.
Stacks (STX) Price Prediction 2029
If investors flock in and continue to place their bets on Stacks (STX), then the crypto would witness major spikes. Hence, STX might hit $14 by 2029.
Stacks (STX) Price Prediction 2030
By 2030, the STX price might rally to $16 if the trend momentum aligns in favor of Stacks. Furthermore, STX would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.
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 $0.9220. Comparatively, the bearish Stacks (STX) price prediction for 2023 is $0.3417.
If there is a positive elevation in the market momentum and investors’ sentiment, 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 $3.6104 and mark its new ATH.
FAQ
1. 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).
2. Where can you buy Stacks (STX)?
Traders can trade Stacks (STX) on the following cryptocurrency exchanges such as Binance, OKX, CoinW, Bybit, and Bitget.
3. Will Stacks (STX) record a new ATH soon?
With the ongoing developments and upgrades within the Stacks platform, Stacks (STX) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Stacks (STX)?
Stacks (STX) hit its current all-time high (ATH) of $3.6104 on November 16, 2021.
5. What is the lowest price of Stacks (STX)?
According to CoinMarketCap, STX hit its all-time low (ATL) of $0.04501 On March 13, 2020.
6. Will Stacks (STX) hit $1?
If Stacks (STX) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $1 soon.
7. What will be the Stacks (STX) price by 2024?
Stacks (STX) price might reach $4 by 2024.
8. What will be the Stacks (STX) price by 2025?
Stacks (STX) price might reach $6 by 2025.
9. What will be the Stacks (STX) price by 2026?
Stacks (STX) price might reach $8 by 2026.
10. What will be the Stacks (STX) price by 2027?
Stacks (STX) price might reach $10 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
