Stacks (STX) Price Eyes $4 Following 30% Pump While The Graph (GRT) Consolidates – Here’s Why

The weekend was relatively calm for the cryptocurrency market, but one coin that stood out was Stacks (STX), surging 30%. The Graph (GRT) also saw price movements, declining around 11%, though this shouldn’t worry holders too much as most major AI coins like RNDR and NEAR experienced even steeper drops.

Stacks (STX) Price Analysis

According to altFINS, STX’s price is in an uptrend, trading in a channel up pattern. Swing traders can consider entering on pullbacks to the channel support trendline near the $2.50 horizontal support area for potential near-term upside of around 20% toward $3.50. A stop-loss level of $2.30 is suggested.

For trend traders, the recommendation is to wait for a breakout from the channel up pattern and set a price alert.

The analysis indicates that STX’s price is trading in a channel up pattern, where traders can initiate trades when the price fluctuates within its channel trendlines. A breakout through the channel’s trendlines, either on the upper or lower side, could result in rapid price movement in the direction of the breakout.

STX’s momentum is bullish, with the MACD line above the MACD signal line and an RSI above 55. The nearest support zone is $2.50, followed by $2.00, while the nearest resistance zone is $3.50 (already broken today), followed by $4.00.

The Graph (GRT) Price Analysis

According to altFINS, GRT’s price is in an uptrend, having reached $0.55 before facing rejection. It is currently consolidating in a descending triangle pattern. Traders are advised to wait for a breakout from this pattern.

A bullish breakout could signal a continuation of the uptrend, with the potential for GRT to revisit the $0.55 level. Conversely, a bearish breakout below the $0.40 support level could open up downside risk toward $0.30.

The analysis indicates that GRT’s price is trading in a descending triangle pattern. Typically, a breakout will occur in the direction of the existing trend, which in this case is an uptrend across all time horizons (short, medium, and long-term).

While GRT’s momentum is mixed, with the MACD line below the MACD signal line (bearish) but an RSI of around 50 (neutral), the nearest support zone is $0.40 (previous resistance), followed by $0.30. The nearest resistance zone is $0.50, followed by $0.60.

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Conclusion

Based on the altFINS analysis, both Stacks (STX) and The Graph (GRT) are exhibiting uptrends, albeit with different patterns and momentum indicators.

For STX, swing traders can consider entering on pullbacks to the $2.50 support area for potential near-term upside toward $3.50, while trend traders should wait for a breakout from the channel up pattern.

In the case of GRT, traders are advised to wait for a breakout from the descending triangle pattern, with a bullish breakout potentially signaling a continuation of the uptrend toward $0.55, and a bearish breakout below $0.40 opening up downside risk toward $0.30.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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