When you look for a new coin to invest in, Stacks (stx) might be a good option. Many influencers, analists and coin traders think it will rise high. Some even talk about 1000% within 1 year, but let's keep in real and in the short term.
Now stacks is moving down, while t has gone up for quite a while. The price is consolidating. Every rise in price of an asset, be it a stock, or coin, needs to rest sometimes. It is investing, and some investors want to secure profits, especially after recent gains. When many people do that, the price may drop lower but the initial upward pressure and the strength of the protocol behind the coin itself, say the intrisic value, stays the same or improves.
When the cup is filled, highlighted by the orange line in the graph, stx will reach almost 2, which will be an almost 25% rise on the short term. We are talking about weeks at the most.
Of course, with every coin BTC movements are crucial, but with strong coins like Stacks, we can see they are less vulnarable, and in many cases will retrace to higher grounds sonner after BTC falls a little bit.
Now stacks is moving down, while t has gone up for quite a while. The price is consolidating. Every rise in price of an asset, be it a stock, or coin, needs to rest sometimes. It is investing, and some investors want to secure profits, especially after recent gains. When many people do that, the price may drop lower but the initial upward pressure and the strength of the protocol behind the coin itself, say the intrisic value, stays the same or improves.
When the cup is filled, highlighted by the orange line in the graph, stx will reach almost 2, which will be an almost 25% rise on the short term. We are talking about weeks at the most.
Of course, with every coin BTC movements are crucial, but with strong coins like Stacks, we can see they are less vulnarable, and in many cases will retrace to higher grounds sonner after BTC falls a little bit.