After a significant 43.8% price fall over the past month, sentiment around Stacks (STX) has shifted into bearish. Today, data reported by market analyst Ali Martinez showed that STX seems to be preparing for an upward momentum.
Stacks buying opportunity
According to Martinez, Stacks is unleashing possibilities of a price reversal and acquisition opportunity. Currently, the STX market is struggling to gain an uptrend. The asset’s price is witnessing a significant decrease, which appears like a consolidation trend following gains made in November and early December.
Based on Martinez’s chart, Stacks registered unique explosive upward movements followed by dramatic patterns of declines. In this context, these significant price declines influenced weak investors to sell their holdings before potential price reversal and rise higher.
As per the chart, STX’s current price is standing at $0.9386. Based on Martinez’s technical analysis, the token is preparing to see a significant uptrend and possibly could surge by 25% in the coming few weeks.
The ongoing bearish momentum triggered substantial liquidations by investors. However, Martinez believes that Stacks is primed to wind up this decline phase and could experience a bullish breakout to new heights soon.
STX price updates
Stacks’ price has been down 43.8% over the past month, with its price currently moving at $0.9364, down 2.9% over the past 24 hours. The altcoin’s price decline is because of the interplay of multiple factors, including the wider market downtrend affecting most digital assets and decreased investor sentiment.
Since Feb.2, 2025, the asset has been under correction, which coincides with the wider market decrease as periods of price retracements often come after long-term uptrends.
Before the consolidation, the asset had maintained its price above $1.34 (as of Feb.2), but it has experienced a decline to $0.9364 currently. Despite the drop, the overall long-term momentum remains strong. The current price could be seen as an acquisition zone for traders who are optimistic about the asset’s future potential growth.
One of the major signals of STX’s future price trajectory is the recent formation of an ascending channel. Despite the current consolidation trend, the presence of this pattern signifies a looming bullish trend.
Currently, Stacks is near the lower border of this ascending channel, which serves as its key support level. If the asset can maintain its price above this $0.892 support level, this could suggest an imminent price recovery in the forthcoming weeks.
The upper border of the channel shows that the token has a huge opportunity for price growth, with the first target at $1.7371 and the second one at $2.0435. If the asset can move and hold its price above these key resistance levels, its long-term prospects remain strong and a massive recovery could be coming.
