The STX coin price consolidated within the $1.65 and the 200-day EMA after the 25% rally past week. Will the uptrend be able to continue? Stacks is an advanced layer-1 blockchain solution that was designed to integrate smart contracts and apps that are decentralized (DApps) in Bitcoin (BTC). The smart contracts are added to Bitcoin without altering the characteristics that make Bitcoin so effective — such as security and stability. This platform runs on STX token that can be used to power an execution process for smart contracts processing transactions, and the registration of new digital assets on the blockchain. Let us move ahead to read about Stacks technical analysis. Past Performance of STX STX coin price shows a growth of more than 25% in the past week resulting in th breakout of a double bottom pattern near the $1.40 mark. The rally struggles to surpass the 200-day EMA but sustains above the $1.65 mark. The rally comes after the 45% fall in the second of January. STX/USD Daily Chart STX Technical Analysis The STX coin price shows multiple bullish engulfing candlestick followed by a streak of Doji candlesticks between the $1.65 and 200-day EMA. Hence, traders can find the breakout of this consolidation phase as an excellent entry spot. The MACD indicator shows the bullish growth in the fast and slow lines as they continue to approach the zero line. However, the bullish trend in histogram shows a weakness due to the curre...
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