Stacks Price Prediction 2021 – Will STX Price Hit $3 in 2021?

This Stacks (STX) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our Stacks price analysis and prediction.

Over the past few weeks, the crypto market seems to be making a fast recovery. After the dip in the last couple of months, the crypto market has either remained stable or growing steadily. At the moment, it seems that the digital asset industry might finally be on the up and up again.

Will Stacks experience the same price volatility? We’ll find out soon in this Stacks price analysis 2021 article. But first, let’s have a look at what Stacks is.

What is Stacks (STX)?

Stacks is a layer-1 blockchain solution that is developed in order to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC). Moreover, these smart contracts are purchased to Bitcoin without changing any features that develop it so powerful, however, including its security and stability.

More so, these DApps are open and modular, this indicates that developers can develop on top of each other’s apps to deliver features that are simply impossible in a regular app. Everything which takes place on the network is settled on the most widely utilized arguably the most secure blockchain – Bitcoin since Stacks utilizes BTC as a base layer.

Added to this, the platform is based on the Stacks token (STX), which is utilized for fueling the execution of smart contracts, processing transactions, and registering new crypto assets on the Stacks 2.0 blockchain.

Furthermore, the platform was formerly called Blockstack but was rebranded to Stacks in the fourth quarter of 2020 in order to separate the ecosystem and open source project from Blockstack PBC the company that built the original protocols. Notably, the manner for Stacks 2.0 launched in January 2021.

Now that we are clear about STX do you think STX will be beneficial crypto in 2021? Join me and let us see the charts in this STX price analysis and STX price prediction.

Stacks (STX) Current Market Status

As of the time of writing this Stacks price analysis, STX trades at $1.43 with a 24-hour trading volume of $57,325,136. The price of STX has increased by 1.83% in the last 24 hours. Currently, the top cryptocurrency exchanges for STX are Binance, Tokocrypto, OKEx, FTX, and Upbit. Now, let’s go to the next part of this STX technical analysis for 2021.

That said, is Stacks a good cryptocurrency to invest in 2021? Let’s find out in this STX price prediction 2021 article.

Stacks (STX) Price Analysis 2021

Currently, STX holds 77th place on CoinGecko. But will the latest upgrades, development, and changes in the STX blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this STX price prediction article.

In the chart above, which is set in a daily time frame, we can see the Ascending Channel Trend pattern. An ascending channel is the price action that takes place in an upward direction through a rising parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. Moreover, this pattern represents a short-term bullish.

As shown above, at the beginning of this month, STX turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is at 65.77, which means that STX is in an overbought state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of STX.

Since the start of 2021, STX’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, STX has a competitive market this 2021.

Stacks (STX) Price Prediction 2021

The chart below shows that STX has performed great over the past few days. Moreover, the STX price shows a bullish trend. If this trend continues, STX might run along with the bulls, overtaking its $2.68 resistance level and move even higher to $3.

Conversely, if the investors turn against the crypto, the bears might take over and push STX from its uptrend position. In simpler terms, the price of STX might decrease to almost $1.16, a bearish signal.

Meanwhile, our long-term STX price prediction 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.

Stacks (STX) Price Prediction 2022

If this bullish trend continues, STX will reach $3.5 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $4. Then this rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $3.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Stacks (STX) Price Prediction 2023

If STX holds the support level around 200-MA, the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $5.5, making it not plummet but play consistently.

Stacks (STX) Price Prediction 2024

As per the latest upgrades, developments, STX price prediction, and new project forecasts of the platform, STX investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of STX in the crypto market, and it will be the best investment as the price can spike and reach around $8.

Stacks (STX) Price Prediction 2025

In the next four years, STX prices could race up to $9.5. However, reaching this level could not be so difficult for STX as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that STX has a high possibility of reaching new ATH soon in the next five years as per the prediction.

Conclusion

Stacks has a bright future ahead of it in 2021. With the ongoing developments happening within the STX ecosystem, as well as in the overall crypto market, we may see STX reach new heights. Bullish STX price prediction 2021 is $2.68. As said above, it may even reach its new ATH if investors have decided that STX is a good investment in 2021, along with mainstream cryptocurrencies.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Source: https://coinquora.com/stacks-stx-price-prediction/