📌 Overview:
STX (Stacks) is currently retesting a crucial demand zone in the $0.63 – $0.72 range — the same area that previously served as the launchpad for a massive rally toward the $3.80 highs. This chart highlights a strategic opportunity for swing traders and long-term investors who understand market cycles.
🧠 Price Structure Insight:
A well-established demand zone (highlighted in yellow) has acted as a base of accumulation since late 2022 through mid-2023.
Price is now consolidating above this zone, suggesting a potential bullish reversal.
A potential Double Bottom pattern is forming, with a neckline around the $1.00 level — a breakout above this could spark a significant bullish impulse.
🟢 Bullish Scenario (Upside Potential):
If STX maintains support and bounces from this accumulation zone, we could see a stair-step rally toward the following targets:
1. $0.90 – $1.00 → Psychological resistance & neckline of reversal pattern
2. $1.2975 → Historical supply and consolidation area
3. $1.9447 → Previous lower-high resistance zone
4. $2.20 – $2.71 → Key Fibonacci retracement levels from prior highs
5. $3.66 – $3.84 → All-Time High resistance, long-term bull target
🔍 A confirmed weekly close above $1.00 would significantly strengthen the bullish thesis and validate the reversal structure.
🔴 Bearish Scenario (Downside Risk):
If price breaks down below $0.6380, this could invalidate the current structure and lead to deeper corrections, targeting:
$0.45 → Minor support from early 2023
$0.20 → Historical macro bottom and extreme support
❗ A breakdown below this accumulation zone could trigger a longer-term bearish continuation.
🔄 Strategic Trading Notes:
This is a high-probability reversal zone, ideal for gradual accumulation (DCA) or swing entries with tight stop losses below support.
Watch for a spike in volume as a signal for institutional or smart money involvement.
Confirmation from bullish candlesticks (e.g., bullish engulfing on weekly) could provide additional entry confidence.
📚 Conclusion:
STX is testing a key structural level that previously led to exponential price growth. As long as the $0.63–$0.72 zone holds, the mid-to-long-term bias remains bullish. However, traders should remain disciplined and responsive to any invalidation signals.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.