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Stacks (STX) recorded a modest rebound at the time of writing on Thursday after suffering a sharp 10% decline in the previous session. Despite the short-term bounce, the broader technical structure remains tilted to the downside, with sellers continuing to defend key resistance levels.
The main obstacle for STX remains the 50-day Exponential Moving Average (EMA), which is trending lower and currently positioned around $0.3119. This moving average has acted as a dynamic ceiling, successfully capping price advances and preventing a sustained recovery attempt during Wednesday’s trading session.
Momentum Signals Suggest Selling Pressure Is Easing — But Trend Remains Weak
Momentum indicators suggest that bearish pressure may be losing some intensity, though not yet enough to confirm a trend reversal. The MACD indicator remains close to its signal line, while the negative histogram bars are gradually contracting, indicating that downside momentum is weakening rather than accelerating.
At the same time, the Relative Strength Index (RSI) is hovering near 44, remaining below the neutral 50 level. This reading implies that bears still hold a structural advantage, although selling pressure is no longer dominant enough to trigger panic-driven moves.
What Would Confirm a Recovery Scenario?
For a clearer bullish recovery to develop, Stacks would need to secure a decisive daily close above the 50-day EMA at $0.3119. A confirmed breakout above this level could allow price to extend higher and test the upper resistance zone between $0.3500 and the Pivot R1 level at $0.3646, where supply pressure is expected to increase.
A move into this zone would likely signal improving short-term sentiment, though further confirmation would still be required to shift the broader trend outlook.
Downside Risks Remain if Sellers Regain Control
On the downside, if selling pressure re-emerges, traders will be closely watching the October 10 swing low near $0.2010. This level remains the most critical support zone and could play a decisive role in shaping Stacks’ next directional move. A breakdown below this area would significantly weaken the short-term technical structure.
Market Outlook
Overall, Stacks remains in a fragile technical position, with recovery attempts constrained by falling moving averages and only tentative signs of momentum stabilization. Until price reclaims key resistance levels, caution continues to dominate the short-term outlook.
This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any financial decisions. The author bears no responsibility for investment outcomes.
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