23. February 2024

Stacks Price Prediction 2023: Will STX Hit $2 Soon?

• Stacks (STX) is a layer-1 blockchain solution that brings smart contracts and decentralized applications to Bitcoin without changing any of its features.
• STX price prediction for 2023 is $1.3123 to $1.9269 with the possibility of reaching $2 soon, while the bearish prediction is only $0.5442.
• The current market status shows that the circulating supply is 1,364,981,391 with an all-time high of $3.39 on December 01, 2021.

What is Stacks (STX)?

Stacks (STX) is a layer-1 blockchain solution designed to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC). These smart contracts are brought to Bitcoin without changing any of its features, like security and stability. It uses the Stacks token (STX) for fueling the execution of smart contracts, processing transactions and registering new digital assets on the Stacks 2.0 blockchain.

Stacks (STX) Current Market Status

The current market status of Stacks (STX) shows it holds 42nd position on CoinGecko with a price of 0.998895 USDT and 24-hour trading volume at 221,911,066 USDT with 15.7% up in 24 hours price change. The circulating supply stands at 1,364,981,391 STX tokens with an all-time high of 3.39 USDT on December 01 2021

Stacks (STX) Price Prediction 2023

In terms of STX price predictions for 2023; we use data like statistics, patterns, RSI , RVOL , along other information regarding STX to analyze future movements in cryptocurrency prices . Currently , STX has been observed in Ascending channel pattern ; which generally indicates bullish trend . According to this pattern , if the trend continues then it could reach resistance levels such as 0 . 8801 USDT , 1 . 0436 USDT & 1 . 5847 USDT ; or else fall down till 0 . 6667 USDT & 0 . 5739 USDT if trend reverses .

Support and Resistance Levels

From daily time frame analysis; we can get support & resistance levels for STX which are as follows : Resistance Levels : 0 . 8801 USDT , 1 . 0436 USDT & 1 . 5847 USTD Support Levels : 0 . 6667 USTD & 0 . 5739 USTD

Conclusion

Stocks(STK ) are currently observing an ascending channel pattern which generally means a bullish trend ; however if trend reverses then there may be some extreme lows too before it picks back up again so one should take precautionary measures while investing in crypto markets