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The Stacks price dropped 8% in the last 24 hours and is trading at $0.703 at 5:45 am EST, while trading volume plunged 28% to $130 million.
The STX price, exhibiting a double-bottom reversal pattern on the daily chart, is gaining momentum within its long-term trend. This positions the STX price strategically for an imminent breakout rally.
Stacks Price: Bulls Ride The Double Bottom Pattern
Emerging from a downtrend through a breakout in the consolidation range, the STX price initiates a rapid recovery phase, surpassing several resistance levels.
This bullish reversal has enabled the Stacks market price to exceed the 200-day Simple Moving Average (SMA).
The Stacks price has hit a new high for the past five months, reaching $0.792, sparking interest in the cryptocurrency market.
The 50-day SMAs for STX sit comfortably at $0.634, exhibiting a favorable position above the 200-day SMA of $0.586. Ascending beyond the 200-day SMA, the upward trend triggers a golden crossover, hovering above the $0.603 threshold. Additionally, the 200-day SMA forms a double bottom pattern, with the neckline at $0.752.
The Relative Strength Index (RSI) has risen from the 50 midline mark to 64, signaling buying pressure. While the RSI has not entered the overbought territory (above 70), its closeness to this zone deserves caution, as it could precede a reversal in trend.
Despite the bullish momentum, monitoring the RSI and SMAs is crucial for potential reversal indications. Failure to breach the immediate resistance could trigger a sell-off, while a successful breakout could pave the way for another bullish rally.
The breakout rally resulting from the rounding bottom pattern could propel the STX coin price to $1.305. STX is currently encountering immediate resistance from $0.735 to $0.792. A successful breakout above this resistance zone has the potential to induce further bullish momentum.
Conversely, a support zone between $0.594 and $0.648 exists, serving as a protective barrier in the event of a sustained corrective pullback and mitigating the risk of a sharp decline.
Meanwhile, attention is shifting to the TG.Casino token, which has recently blasted above the $3 million mark in its presale project, promising lucrative returns for its investors
TG.Casino Presale Closing In On Final Milestone Of $5 Million
TG.Casino, a Telegram gambling platform, is gaining much interest and support. It has already raised over $3.14 million and is on its way to its final goal of $5 million. The platform boasts over 2,000 active players who have collectively placed bets totaling $20 million.
$TGC is now available in our ongoing presale before we hit our FINAL milestone of $5 million raised.
Buy it here: https://t.co/20PB5qO2Ku
— TG Casino (@TGCasino_) November 29, 2023
Investors can acquire TGC tokens at a discounted rate of $0.17 per token. However, this rate will gradually increase until the project launches on major exchanges.
To differentiate itself from competitors like Rollbit, TG.Casino has introduced enticing incentives, including a substantial airdrop event with 16 million TGC tokens for holders. You also have the opportunity to stake TGC tokens, offering an impressive annual yield of 186%.
https://twitter.com/TGCasino_/status/1726605371891204340?s=20
This has sparked enthusiasm among investors, leading to a shift as some significant Rollbit investors redirect their investments towards TGC.
Alessandro De Crypto, boasting a subscriber base of 11.7k, has endorsed TG.Casino as the ultimate crypto game changer with the potential for a 100x return. This endorsement contributes to the escalating belief that early buyers of TGC may experience significant returns.
https://youtu.be/EIy2CiDPAOM
If you’re interested in participating in this opportunity, you can join by visiting the TG.Casino website, connecting your wallet, and exchanging ETH, BNB, or USDT for TGC tokens.
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