$STX Stacks (STX) Market Update: Bear Trap at $0.287? The $0.339 Wall Decides Everything
STX is trading near $0.309**, up **7.2%** after a two-day selloff that flushed price to **$0.287. Buyers absorbed the drop just above the 100-day MA at $0.262** and reclaimed the **$0.292 midpoint—turning the breakdown into a potential bear trap.
The momentum shift is quiet but real: the 14-day RSI hooked up to 42.4 and crossed its signal line at 39.7, the first bullish crossover since the mid-October top.
The fundamental bid is stronger than the chart suggests. Stacks' Q3 report confirmed 735 BTC entered Bitcoin Staking, with staked STX jumping 25% to 493M after PoX-5. A third BTC bond opens around Nov 10, and every bond requires paired STX locked at roughly 5% of BTC value—direct supply absorption. Meanwhile, Binance funding is +0.0038% and the long/short account ratio sits at 0.83—shorts are crowded, and that's squeeze fuel.
Trade setup: Long on a hold above $0.292**, TP1 **$0.333, TP2 $0.339** (50-day + 0.382 Fib), stop below **$0.262. A confirmed close above $0.339** opens **$0.371.
DYOR—the wall at $0.339 decides everything.
STX is trading near $0.309**, up **7.2%** after a two-day selloff that flushed price to **$0.287. Buyers absorbed the drop just above the 100-day MA at $0.262** and reclaimed the **$0.292 midpoint—turning the breakdown into a potential bear trap.
The momentum shift is quiet but real: the 14-day RSI hooked up to 42.4 and crossed its signal line at 39.7, the first bullish crossover since the mid-October top.
The fundamental bid is stronger than the chart suggests. Stacks' Q3 report confirmed 735 BTC entered Bitcoin Staking, with staked STX jumping 25% to 493M after PoX-5. A third BTC bond opens around Nov 10, and every bond requires paired STX locked at roughly 5% of BTC value—direct supply absorption. Meanwhile, Binance funding is +0.0038% and the long/short account ratio sits at 0.83—shorts are crowded, and that's squeeze fuel.
Trade setup: Long on a hold above $0.292**, TP1 **$0.333, TP2 $0.339** (50-day + 0.382 Fib), stop below **$0.262. A confirmed close above $0.339** opens **$0.371.
DYOR—the wall at $0.339 decides everything.