STX Technical Analysis: Buyers Finally Surpass The Formidable Trendline 

Key technical points:

Past Performance of STX

STX coin price action shows a long coming resistance trendline in the daily chart that has crushed multiple bullish recoveries. However, the recent reversal from the $1 mark brings the buyers back in control and helps surpass the resistance trendline. The recovery accounts for a 50% jump in the last three weeks.

Source-Tradingview

STX Technical Analysis 

STX prices show a rounding bottom pattern breakout with a neckline at $1.55. The price action shows the breakout candle surging above the neckline and the resistance trendline confluence. 

The crucial daily EMAs (50, 100, and 200-days) maintain a bearish alignment as the price climbs higher. Moreover, the bullish recovery brings a reversal in the EMAs that may shortly result in crossovers. 

RSI Indicator: The RSI slope continues the diagonal uptrend with the support of a 14-day SMA. Hence, the indicator reflects a solid uptrend with the potential of crossing the $2 mark.

MACD Indicator: The MACD and signal lines maintain a minimum spread as they surpass the zero value mark. However, the falling trend in bullish histograms highlights an underlying weakness in the uptrend.

In a nutshell, the STX technical analysis emphasizes the trendline and rounding bottom breakout trend continuation .

Upcoming Trend 

The STX coin price might shortly cross above the 200-day EMA as the buying pressure increases. Moreover, the breakout trend shows the potential of crossing the 1.75 mark to reach $2. 

Support Levels: $1.5 and $1.3

Resistance Levels: $1.75 and $2