The price of STX (STX) is returning to levels it was at before bearish signals took over the cryptocurrency market.
Investors see the potential in the asset and, like the market, are changing their investment stance.
Optimism Rising Amid Skepticism
Despite initial skepticism, optimism is growing around the STX price. Funding ratios reflect some lingering investor doubt, but recent positive changes in funding rates suggest a shift towards a more favorable sentiment. Positive funding ratios, indicating a willingness to pay a premium for long positions, reflect a growing sense of optimism.
Additionally, STX’s Chaikin Funds Flow (CMF) has shown increased inflows, signaling a growing influx of capital and boosting investor confidence further.
STX Price Prediction: Targeting $2
Currently priced at $1.86, STX has seen a nearly 8% increase in the past 24 hours. The altcoin is on the verge of breaking through the $2.00 resistance level, with $1.80 potentially solidifying as a strong support base.
These positive indicators suggest that STX may continue its upward trajectory beyond $2.00, potentially allowing investors to recover from recent losses incurred during the market downturn.
Caution in a Potential Rally
While the momentum is strong, there is a possibility of a stall in the rally as investors may look to take profits after a significant price surge. In such a scenario, STX could experience a drop, potentially losing support at $1.80 and nullifying the bullish trend.
The information contained on the BeInCrypto website is published in good faith and for informational purposes only. Users are solely responsible for any consequences arising from the use of the information on this website.
In addition, part of the content is the AI translation version of the English version of the BeInCrypto article.
