MyCryptoParadise_Nathan

STX/USDT Downward Momentum ?? Stacks Analysis Today

BINANCE:STXUSDT   Stacks / TetherUS
Yello Paradisers, Stacks Analysis: Navigating a Bearish Trend

๐Ÿ’Ž STX recently faced a rejection after hitting the supply zone, continuing its downward trajectory.

๐Ÿ’Ž Currently, it's approaching a demand zone where it could potentially bounce for a short upward leg before resuming its decline.

๐Ÿ’Ž In terms of the overall trend, STX remains bearish. Therefore, for those considering a short position, the Bullish Order Block (OB) area could serve as a potential target.

Entry Strategies:

๐Ÿ’Ž Short Position: Keep an eye on the Bullish OB area as a potential target for your short trade, given the prevailing bearish trend.

๐Ÿ’Ž Long Position: For a spot buy, either wait for STX to break and close above the resistance trendline or consider entering at the Bullish OB zone.

Choose your entry point based on these scenarios and the current trend.
Trade active:
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