Stacks – Primed for a Breakout with Strong Bitcoin Integration
2024-09-19

About Stacks (STX): Stacks is a unique project that brings smart contracts and decentralized applications (dApps) to Bitcoin without altering Bitcoin’s core. It has a market cap of $2.52 billion and a 24-hour trading volume of $167 million, showing strong market interest.

Impact of Rate Cuts: With the Fed's recent 50 bps rate cut, risk-on assets like STX are expected to thrive as investors seek high-growth opportunities in the crypto space. Stacks, building on the strength of Bitcoin, stands to benefit from this macroeconomic backdrop.

Entry Point: STX is currently trading at $1.69, showing a 12.1% increase in the last 24 hours. Immediate support is at $1.17, and a breakout above $2.76 could set the stage for a strong bullish rally. The primary target is $4.33, while the maximal target in a moonshot scenario reaches $19.

📊 Technical Levels:

Support: $1.17
Primary Target: $4.33
Maximal Extension: $19 (Moonshot Scenario)
The chart is showing STX flirting with a breakout, and the combination of Bitcoin’s stability and smart contract capability could push STX higher.

 If you like STX, perhaps it’s time to diversify with AI + Crypto unicorns like CRGPT 🤖🚀. 

One Love,
The FXPROFESSOR 💙