STX is a blockchain platform that enables the development of smart contracts and decentralized applications (dApps) on the Bitcoin network. Operating with the security of Bitcoin, Stacks uses the Clarity language to create secure smart contracts and offers STX token holders the opportunity to earn Bitcoin through “stacking.” The goal is to make Bitcoin not just a store of value but also a foundation for Web3 applications.
Currently, we observe a re-test movement toward the broken trend on the STX side. The 2.19 level stands out as a significant support zone for STX. If this zone is lost, there is a possibility that STX may experience a decline toward the 1.83 level. However, the likelihood of a rebound from this level appears higher. In such a case, STX is expected to show an upward move toward the 2.65 price level.
Moreover, the FVG gap in this region and the substantial liquidity in the upper price range provide favorable market conditions for this scenario to unfold.
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