STX/USDT Chart Update
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Now, let’s dive into this chart analysis:
#STX/USDT is currently experiencing a correction within a larger bullish trend. The price is likely to continue if STX fails to hold the initial support level at $1.7.
Key Observations:
- Initial Support: The price has an initial support level of $1.7, as highlighted in the chart.
- High Liquidity Range with Strong Support: A significant support zone is identified between $1 to $1.2. This range is marked with a green rectangle and is noted for its high liquidity and strong support characteristics.
- Moving Average: The 100EMA is an initial resistance for STX. A breakout above it will likely trigger the bullish trend and a rejection will continue the correction phase.
- Projected Price Movement: The chart projects a potential price drop towards the high liquidity range, suggesting a dip to around $1 to $1.2 before a strong rebound.
After reaching the support zone, a bullish reversal is expected, with the price potentially aiming for the upper boundary of the channel, targeting around $7.
Best Entry: $1 to $1.2.
Targets:
T1- $2.42
T2- $3.53
T3- $4.38
T4- $5.74
T5- $6.82
DYOR. NFA.
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