<em><strong>The STX price action shows a bull cycle within a consolidation range, teasing a breakout rally above the $0.45 mark. Is this a FOMO trap for buyers?</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The STX prices jumped by 10.35% in the last 24 hours.</li>
 	<li>The bull cycle within the consolidation breaches the 50-day SMA.</li>
 	<li>The 24-hour trading volume of Stacks is $38.30 Million, indicating a rise of 94%.</li>
</ul>
<h3>Past Performance of STX</h3>
The STX price action has been trapped within a consolidation range between 0.35 dollars in 0.5 dollars in the daily chart. However, the recent bull cycle within the consolidation range exceeds the 50-day SMA and the consolidation range. The bull run accounts for a 35% jump in the last week and teases an uptrend continuation to the 100-day SMA.

<img src="https://s3.tradingview.com/snapshots/s/Sr9dxgkj.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/Sr9dxgkj/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>STX Technical Analysis</h2>
STX price chart shows an increase in bullish commitment as the intraday <a href="https://www.cryptoknowmics.com/news/ripple-xrp-sees-massive-surge-in-trading-volume-amid-ongoing-lawsuit/" target="_blank" rel="noopener">trading volume</a> spikes over the week, supporting the uptrend. Hence, traders can expect the bull cycle to exceed the $0.50 psychological mark and reach the overhead resistance close to the 100-day SMA.

The RSI indicator shows an increase in the underlying bullishness as the RSI slope reverses from the nearly oversold territory to exceed the halfway line. Hence, the technical indicator adds points to the bullet trend continuation theory.

Additionally, the MACD indicator shows fast and slow lines reclaiming the bullish alignment after the shot mojo below the zero line. Hence, the technical indicator displays an increase in buying pressure as the bullish histograms resurface.

In short, STX technical analysis displays a high likelihood of a price jump of 40% to reach the 100-day SMA.
<h2>Upcoming Trend</h2>
The increasing likelihood of an upcoming bullish trend in the STX price upon the consolidation breakout increases the fear of missing out (FOMO) among the traders. However, smart traders must wait for the price action confirmation to avoid any trap.

Conversely, a bullish failure to sustain above the $0.45 resistance level will lead to a retracement of $0.35.

Resistance Levels: $0.50 and $0.63

Support Levels: $0.40 and $0.35

STX Technical Analysis: Can Recovery Rally Exit The Range?

The STX technical analysis shows a bull cycle within a consolidation range, teasing a breakout rally above the $0.45 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

STX Technical Analysis: Can Recovery Rally Exit The Range?

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