STX ($STX) recorded an 18–20% intraday rebound after a period of persistent downside pressure, distinguishing itself among altcoins. The token decisively broke above $0.30, a level that had repeatedly acted as short-term support. Once selling pressure subsided, STX accelerated higher, indicating a potential near-term shift in market control.
Technical Analysis:
- STX is in a post-breakout retest phase.
- After clearing a descending trendline that previously limited upside, the token retraced to test former resistance as support.
- Price action shows higher lows, suggesting buyers are defending the breakout and sellers are losing influence.
- Maintaining above this zone could open a path toward $0.45–$0.50, while failure may return STX to range-bound behavior.
Futures Market Insights:
- Dense short positions between $0.30–$0.32 were liquidated, contributing to momentum.
- Open interest increased, signaling new market participation rather than mere deleveraging.
- Short exposure still exceeds long positions near the lower range, providing additional downside support.
STX’s performance in the coming sessions will determine whether this rebound represents a sustained trend reversal or a temporary recovery within the broader range.
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