 STXUSDT: Is a Breakout on the Horizon? Or Is the Trap Already ?
2024-09-12

Yello Paradisers! Are you ready for what could be the next major move in #STXUSDT? This coin has shown strong price action recently, but is it ready for a breakout, or are we looking at more consolidation? Let’s dive into the latest setup and what you need to watch closely before making your next move.

💎#STXUSDT has been trending within a descending resistance line on the higher time frames, a key structure that’s been dictating the price action. Previously, we witnessed a fakeout, where the pair briefly moved higher but ultimately returned to test a strong support zone multiple times. Right now, the price is holding just above that critical support level.

💎This level has been tested several times, and each tap has resulted in a slight upward move. The pair is sitting just above this key area, and it’s acting as a pivot point. A daily candle close below this level would invalidate the bullish thesis, signaling potential downside.

💎If the price breaks out from here, this is the first area to watch, a minor zone where sellers might step in is $1.715

💎Next Resistance at $1.851, With strong market sentiment, the pair could push up to this level, which has proven to be a tough barrier in the past. 

💎Major Resistance at $1.987, This is the significant level where we could expect the bulls to face the most substantial pressure.

💎If the pair breaks out from the current support zone, we could see an upward move, possibly testing the resistance areas mentioned above. However, if market sentiment remains neutral or weak, we could see the price revisiting $1.321 support again, which is a key level to hold for the bulls.

💎The setup is compelling, but remember— patience and discipline are key. The thesis is only valid if the support at $1.321 holds. A breakout could lead to some exciting price action, but a close below this level might shift the dynamics entirely. 

Stay focused and trade smart, Paradisers! The market rewards those who are prepared, and by waiting for confirmation, you’ll ensure you’re on the right side of the next big move.

Remember, this isn’t a free ride! As always, stick to your strategies, stay disciplined, and avoid emotional decisions. The next few months will be crucial for profitability. 

MyCryptoParadise
iFeel the success🌴
