This recovery signals potential strength, especially for short-term investors. Instead of a full retracement, the price bounced before hitting lower supports — a sign that STX may be forming a solid technical foundation for the next move.

Breakout Above Resistance Could Target $1.24

At the current stage, STX appears to be facing rejection at a critical resistance area. Should this zone be broken with strong volume and price stability above it confirmed, there’s potential for the rally to extend toward the $1.24 level.

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That said, caution is advised unless the resistance is clearly breached. Another rejection from this level could pull the price back to lower support zones. For this reason, it is important for traders to closely watch for sustained breakout confirmation rather than reacting to short-term spikes.

Closest Support Is the Bullish FVG Zone

In case of another pullback, the nearest support to watch is the bullish FVG (Fair Value Gap) zone. This area is likely to attract buyers once again, offering a potential base for STX to regain momentum.

Short-term strategies should revolve around monitoring both the resistance breakout and the FVG support area, as either could define STX’s next significant movement. With overall market sentiment still uncertain, proper risk management remains essential.

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The post STX Faces Rejection at Resistance: Eyes on $1.24 If Breakout Confirmed appeared first on Coin Engineer.