https://ift.tt/3qZbmYH price analysis: Bearish slide drives STX price to $1.304 extreme

TL;DR Breakdown

• STX/USD value is reduced to $1.304.
• Stacks price analysis shows bearish turn.
• Support at $1.332 is crossed.

The recent Stacks price analysis shows a growing bearish trend as the bears have repeatedly been securing wins for the past few weeks. The downtrend has been constant, and although the bulls tried to make way for recovery, the bears are still in the leading position. The drop in price in the last 24-hours is also significant, as the price moved down to $1.304 end after a bearish trial. Further decline in coin value is to follow if the current trend resumes in the future.

STX/USD 1-day price chart: Cryptocurrency receives bigger shock as price falls to $1.304

The one-day Stacks price analysis confirms an intensifying bearish trend, as the price underwent a major drop in the last 24-hours. The bearish swing reached its peak in the past few weeks, and the past few days have followed a strong bearish market trend as well. Right now, the price is settled at $1.3044 point, and further reduction is to be expected in the incoming days. The moving average (MA) value has also stepped down to $1.74.

The area between the Bollinger bands is expanding on a great scale, which indicates increasing volatility and a negative hint regarding the next week. The upper edge of the Bollinger bands Indicator is at $2.5301, whereas its lower edge is at $1.332. The Relative Strength Index (RSI) score has gone lower than the under-bought limit and shows 29.90 figures.

Stacks price analysis: Bears regain balance by drawing price back to $1.304

The four-hour Stacks price analysis gives out a slightly bearish indication regarding the current market trends. The bears have regained their dominant position on the four-hour price chart after the bulls tried to win back their lead. The market faced loss in the last four hours, as the price levels went back to a $1.304 low. The moving average is still lower, i.e., $1.289, if we compare it to the current STX/USD value.

The SMA 50 curve is also moving at a greater height than the SMA 20 curve, as the bears have been dominant for the most part. The upper value of the Bollinger bands Indicator is now $1.4804, whereas its lower value is at $1.219. The RSI graph shows a descending curve as the bearish turn has reduced the score up to 37.71.

In the past few weeks, the market value of cryptocurrency underwent a drastic decline, as evident from the above indication. The technical indicators chart gives a selling signal as the bearish trend is continuously growing and gaining stability. Fifteen indicators are on the selling side; nine are on the neutral side, while only two are on the buying side.

The Moving Averages Indicator is displaying favorable results for the sellers by giving out a strong bearish sign. There are 13 indicators on the selling point, while one indicator each is on the neutral and buying points. The oscillators predict a neutral trend, and eight oscillators are at the neutral level; two oscillators are at the selling while only one oscillator is at the buying level.

Stacks price analysis conclusion

The one-day and four-hours Stacks price analysis predicts a negative trend for the day, as the market faced loss in the last 24-hours. The past two weeks proved extremely damaging towards the overall market value of STX/USD. Today’s trend is again going in favor of the bears, and the price has dropped to $1.304.

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