Stacks rallies 23% as buyers step in – But STX could snap back IF…
Stacks (STX) broke out of a multi-month downtrend, rallying 23% from $0.30 to a two-month high of $0.37 before a slight pullback to around $0.35. The surge was supported by a 52% increase in trading volume and a rise in market cap above $600 million. Futures activity saw significant growth, with Open Interest climbing 10% to $27 million and Funding Rates turning positive, indicating strong bullish sentiment. Buyers dominated the market, with net buyer dominance rising 17% and accumulation volume spiking, reflecting substantial capital inflow. The Stochastic Momentum Index reached 68, suggesting strengthened upward momentum. If demand holds, STX could target $0.45, with stronger resistance near $0.52. However, profit-taking could push the price back to the $0.308 support level.
ambcrypto01/05 10:02