Stacks coin price chart11/20/2023 ![]() contracts for difference (“CFDs”) is speculative and carries a high level of risk. Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. We may receive financial compensation from these third parties. Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. The stop-loss of this trade will be at $0.5500. A bearish breakout will be confirmed if it moves below the support at $0.4176. Therefore, I suspect that the coin will resume the bearish trend in the coming days. This trendline connects the highest level since June 26th. Despite the comeback, the coin remains below the 50-day moving average and the descending trendline shown in black. It has found a strong support at $0.4176, the lowest level since last week. The daily chart shows that the STX crypto price has been moving sideways in the past few days. ![]() It jumped by more than 28% in the past 22% to over $28.3 million. Also, Stacks open interest in the futures market rose. Data by CoinGlass showed that shorts liquidations rose to $60k, the highest level since September 5th. The Stacks comeback led to an increase in shorts liquidations. Therefore, the Fed will likely decide to pause and assess the state of the economy. This strike has seen workers in the biggest car plants in the US down their tools and analysts expect that the strike could go on for a while. The US is also going through a major strike, which was called by the United Auto Workers (UAW). At the same time, retail sales were strong even as inflation and interest rates rose. The most recent data showed that the country’s inflation rose from 3.2% in July to 3.7% in August. The Fed decision comes at a difficult time for the American economy. Most analysts expect the Fed to leave interest rates unchanged at 0.25%. A likely reason is that investors are waiting for the upcoming Federal Reserve interest rates decision scheduled for Wednesday. ![]() It is unclear why cryptocurrencies are rising. This was a major recovery since Bitcoin crashed below $25,000 on Monday last week. ![]() Therefore, this price action was mostly because of the performance of Bitcoin, which flipped the important resistance at $27,000 on Monday. There was no Stacks-specific news that helped to push its token price higher. It has risen by more than 13% from the lowest level this year. The STX token rose to a high of $0.5023, the highest level since August 31st. Stacks price jumped by more than six percent on Monday as cryptocurrency recovery continued. The coin jumped after Bitcoin soared above $27,000. Stacks crypto price has jumped by over 11% from its lowest level last week.
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