Expert Says Stacks is ‘Undervalued,’ Predicts STX Price Rally to This Target

Stacks (STX) may be setting up for a price move, as the Bitcoin ecosystem player draws interest for its AI integration capabilities. Crypto analyst Michaël van de Poppe identifies $1.40 as the key level to watch, suggesting a break above this resistance could spark a rally toward $2.50.

STX is testing a higher timeframe support zone around $1.27-$1.29 as seen on the chart shared by Van de Poppe. If bulls hold this level and push past $1.40, the analyst believes the token could aim for $2.50 or higher in the coming months.

Key Support and Resistance Levels for STX

Van de Poppe’s chart shows Stacks hovering around $1.27-$1.29, a historically strong support zone. This range has served as a key demand area where buyers tend to step in.

The first major resistance lies at $2.06, which STX must break to confirm a bullish trend. Should the token rebound to $1.40 and maintain support above this level, it could spark an upward trend. Based on Van de Poppe’s chart, his upcoming price target is approximately $2.50 to $3.00.

The Stacks trend is at a critical juncture, transitioning from a consolidation phase into a potential reversal. Following a strong rally in early 2024, STX entered a cooling-off period, forming a higher timeframe accumulation zone.

If bulls reclaim $1.40 and establish it as support, it might validate a bullish trend reversal. The subsequent confirmation signal would involve a breakthrough above $2.06, potentially paving the way for an increase toward $2.50 and higher.

Read also: Is Onyxcoin (XCN) Binance Listing on the Way, and How Could This Affect the Token?

STX Technical Indicators Signal Growing Momentum

Stacks remains in a neutral RSI zone, meaning it’s not overbought and has room for further upside. Declining volume during pullbacks suggests weakening selling pressure, which could signal a potential trend shift.  A breakout above $1.40 with strong volume would validate bullish momentum and pave the way for additional profits.

In a bullish scenario, maintaining support at $1.25-$1.30 and regaining $1.40 could propel STX to $2.06, targeting $2.50-$3.50. A bearish scenario unfolds if $1.25 support fails, potentially pushing STX down to $1.00-$1.10, extending its accumulation phase.

Stacks is currently at a pivotal moment, with $1.40 as the key level to watch. Should buyers overcome this resistance, the journey toward $2.50 and greater targets may appear more feasible. As interest in the Bitcoin Layer 2 ecosystem and AI-driven developments rises, analysts continue to be hopeful about STX’s future trajectory.

Follow us on X (Twitter)CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.

CaptainAltcoin
Logo