Stacks Price Prediction July – STX Price Long Term Forecast
1 month ago
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In a week that has pushed many BRC-20 tokens up, the price of STX, the native token of Stacks, the Bitcoin layer for smart contracts, has increased by 22% before a slight retrace.
Will this token keep up its momentum? Or is there another drop coming soon?
Stacks (STX) Price Pumping
Stacks has risen by 21.5% since last week. At the time of writing, it is trading just above the $1.5 mark, and its market cap is around $2.3 billion.
One reason behind this surge is Bitcoin’s rebound. The BTC price has increased by almost 3% since last week and is now trading above the $56k mark.
Stacks Price History
The development of Stacks started in 2017 and was completed in 2020. For almost a year since its launch, the STX price ranged between $0.08 and $0.22.
The first pump happened in 2021 due to its Binance listing, and the price rose by 4,125%.
An expected drop followed, correcting the token’s value by 82%. Then, the token pumped once again by 550%, reaching $3.75, which was its all-time high around that time.
The arrival of crypto in the winter of 2022 caused the market to take a bearish turn, and STX lost 93% of its value.
In March 2024, Bitcoin rose to a new all-time high just before the halving, pushing STX to its new ATH of $3.91.
However, regulatory issues pushed Bitcoin towards correction, and STX followed, dropping by 64% from its all-time high.
And since last week, the token has climbed by almost 22%.
Stacks Price Analysis
Stacks has closely followed Bitcoin’s price action since the launch, which means that due to the volatility of the crypto market, this token has experienced many crests and troughs.
At press time, the token’s resistance level is $2.044 (0.786 fibs), and the support is $1.553.
A jump of 31% is needed to test the nearest resistance level. If Stacks follows the same trends as the last small pump, it can possibly do so within the next four days.
However, the latest candle is red, which means there is a possibility that the token’s value may drop again.
Furthermore, to reclaim its all-time high, the STX price has to increase by almost 150%.
Is it possible? The answer is not clear, as Clinix Crypto stated in his video six months ago that Stacks is historically a manipulated crypto.