STX USDT
2024-08-15

STX is currently in a bearish trend and has been moving within a descending channel for approximately 157 days. The chart clearly shows the price making lower highs and lower lows, respecting the boundaries of this channel.

At the moment, the price is positioned near a critical juncture where it could potentially break out of this descending channel, signaling a reversal. For a bullish move to occur, STX must break above the channel’s upper boundary. This resistance has acted as a barrier to the price, preventing any significant upward movement.