DOODHI

STXUSDT 8H chart analysis
Short-term bullish recovery Major resistance overhead
Based on your TradingView screenshot, STX is showing a potential bullish reversal from an important support zone. However, confirmation is still needed.
1. Market structure
Previous trend: Strong bullish rally from approximately $0.13 to $0.45.After the top: Clear bearish structure with lower highs and lower lows.Current situation: Price has reached the previous accumulation/support zone around $0.26–$0.27 and bounced.Current price: Approximately $0.3097.
The recent bounce is encouraging, but the 8H trend has not yet fully reversed.
2. Important price levels
Level
Price
Significance
Major resistance
$0.33–0.34
Breakout confirmation
Resistance 2
$0.36–0.37
Previous supply
Major target
$0.42–0.43
Your chart target
Current price
$0.3097
Current trading area
Support 1
$0.28–0.29
Short-term support
Strong support
$0.26–0.27
Demand zone
Stop-loss area
$0.23
Trade invalidation
3. Analysis of your long position
Your TradingView long-position tool shows:
Entry: approximately $0.281Target: approximately $0.430Stop-loss: approximately $0.231Risk/reward: 1:2.99Potential upside: 52.93%Potential downside: 17.70%
Risk/reward is attractive
Your entry is strategically positioned near the historical demand zone.
However, the main concern is that price is still below the $0.33–$0.34 resistance.
4. What I expect next
Scenario A — Bullish continuation
Preferred confirmation
Price holds above $0.28–$0.29.An 8H candle closes above $0.33–$0.34.Price retests that level successfully.Potential upside targets: $0.36, $0.39 and $0.42–$0.43.Scenario B — Bearish rejectionRisk scenarioPrice gets rejected around $0.33.Falls below $0.28.Retests $0.26–$0.27.Losing that demand zone could expose lower prices.
5. My trading opinion
I like the location of your entry because it is close to historical support. But I would not consider the bullish reversal confirmed yet.
My preferred confirmation would be an 8H candle close above $0.33–$0.34, followed by a successful retest.
One important point: Your stop at $0.231 is below the support zone, which gives the trade room to fluctuate, but the position size should be calculated according to your maximum acceptable account loss.
One question
Are you already holding this STX long position, or are you planning to enter around $0.28?
That changes whether I would focus on managing the existing trade or finding a better entry.
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