The price of Stacks (STX) has jumped by 13% in the past two days, and many traders are starting to take notice. After about two weeks of cooling off, STX is beginning to show real signs of strength again.
According to crypto analyst Grumlin Mystery recent price action suggests that the token could be heading for a retest of the $1 level, which has become a psychological magnet for many investors watching this trend unfold.
Looking at the chart he shared, STX formed a strong base around $0.63 and has been climbing steadily since then. The price has now broken above the 20-day moving average and is testing the 50-day moving average. That shift alone signals growing bullish momentum.
There was a clean bounce from the $0.82 level recently, which now acts as a short-term support zone. Volume is also showing signs of increasing, which supports the idea that this rally could have more fuel.
What you'll learn 👉
Why $1 Is a Key Level for STX Price
Crypto analyst Grumlin Mystery believes that Stacks is likely moving toward the $1 mark, a level he describes as a “nice number” that attracts both technical traders and retail attention. He also points out that STX has a habit of riding trending waves once momentum kicks in, and that could be exactly what we are seeing right now.
Historically, the $1 zone acted as both support and resistance, so a clean move above that level could unlock the path to higher targets around $1.15 and even $1.26. The fact that STX often becomes part of broader market trends makes this move even more notable.
Bitcoin Correlation and Binance Launchpool Confusion
But price action alone isn’t the full story. According to @CallMeHunch, one reason behind the surge could be how closely STX follows Bitcoin’s movements.
Every time Bitcoin pushes higher, it seems that more capital flows into STX, turning it into one of the top movers on the market. This correlation adds another layer of confidence for traders looking to ride the trend.
Another reason for the sudden spike in STX price could be tied to some unexpected buzz from Binance. Recently, Binance announced the addition of a new Launchpool project called Space and Time, which is officially represented by the ticker $SXT. However, many crypto users have mistakenly referred to it as STX, likely confusing it with Stacks.
🔶️ Introducing the Latest Binance Launchpool Project: Space and Time ($STX) 🔶️
— cryptohell (@cryphelll) May 7, 2025
Get ready to farm $STX by staking your crypto on Binance Launchpool!
⏳ Staking Period: May 6–7, starting at 03:00 UTC
🚀 Token Listing: May 8 at 16:00 UTC
Full details here:… pic.twitter.com/l3bbPRsvBd
This small detail might seem minor, but in a fast-moving market, even simple ticker confusion can create momentum. The overlap in symbols has probably funneled more eyeballs onto STX just as it was gaining technical strength, boosting visibility and possibly triggering FOMO from traders who misunderstood the announcement.
Read Also: Think ADA Price Is Done? This Chart Says the Real Move Is Just Starting
Interestingly, some social media posts even claimed that STX was joining Binance Launchpool, when in reality it was SXT. This fast-rising mix-up may have unintentionally worked as indirect promotion for Stacks (STX), further amplifying its rally at a critical moment. Whether intentional or not, the added attention couldn’t have come at a better time for STX bulls.
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