STX/USDC (BUY) STX confirm further bullish extension towards 2,80
Traduction faite par Deepl pro
Market & Ticker: Stacks – STX/USDC
Date: 11/11/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
STX has been evolving in descending range since MARCH 2023. This Range is forming a base for a long-term perspective. Now the recent acceleration confirms the upside trend towards the exit potential.
At the current level as long as 1,75 remains tactical support valid (previous 1,40) a larger rise towards 2,50 is expected. On the midterm 2,80 is the standard target
Technical Key Elements:
- Range exit confirmed
- RSI indicator is above 50% and keeps potential
- The Moving average are support
- Fibonacci key support is adjusted at 1,75 while the Elliot wave shows upside potential towards 2,80
Trade Idea conclusion: Buy
- Tactical Target Max 2,8
- Tactical Target 2,50
- Tactical key support (Pivot) 1,75 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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