38 STX (Stacks) Higher Timeframe (HTF) AnalysisOverviewStacks (STX) is in a clear uptrend, forming higher highs (HHs) and higher lows (HLs) on the higher timeframe. The price is respecting a strong trendline, making it a key asset to watch for technical traders.Market StructureTrend Analysis: STX is in a steady uptrend, with HHs and HLs confirming bullish momentum.Consolidation Phase: The price is moving sideways above the trendline, indicating a potential pause before the next big move.EMA (50 EMA): The 50 EMA is flat, suggesting sideways action might continue before a breakout.Key LevelsResistance Level: The key resistance is at $2.06. A breakout above this level could resume the uptrend and end the current consolidation phase.Support Trendline: The trendline acts as strong support, keeping the price within the ascending channel.All-Time High (ATH): If momentum continues after the breakout, the price could retest or even break the ATH, making it a critical target for long-term traders.Trading StrategyLong Entry:Enter after a breakout above $2.06.Confirm the breakout with a volume spike or bullish candlestick patterns.Risk Management:Place a stop-loss below the trendline or the latest higher low.Use a trailing stop-loss after the breakout to secure profits.Indicators to WatchVolume: A volume spike during the breakout confirms bullish strength.RSI (Relative Strength Index): RSI above 60-70 signals strong momentum during the breakout.MACD: A bullish crossover on the MACD adds confidence to the breakout.Conclusion: STX is consolidating but remains in a bullish trend. A breakout above $2.06 could trigger the next upward move, potentially targeting the ATH. Traders should wait for confirmation before entering and manage risks effectively.Disclaimer: This is for educational purposes only. Please do your own research and consult a financial advisor before making any investment decisions.Join X for More Chart Analysis: https://x.com/CryptoPatelJoin Telegram for Real-time Updates: https://t.me/OfficialCryptoPatel
