STX price jumps by 16 %, while retailers prepare for reversal, RSI reaches 74

• Coinglass shows a long/short ratio of 0.95, which indicates a bear-sentiment.
• StX could fall to $ 0.47 if a correction is made.
• The resistance at $ 1.07 is the next decisive test for the bulls.

Stacks (StX) has emerged as the strongest performer in the cryptom market in the last 24 hours and has a price increase of 16 %.

The increase was also accompanied by a strong increase in the commercial volume, which indicates an increasing interest of investors.

However, the bullish rally seems to be contradicted to the underlying market substance.

on-chain metrics show a growing demand for short positions, which indicates that many traders expect a short-term correction, despite the increase.

The contradictory signals between technical indicators and price movements bring STX into a potentially volatile position, while investors debate about the next step of the tokens.

Source: Coinmarketcap

increasing short interest

While StX has achieved aggressive profits, data from Coinglass fell.

This number indicates that bear betting exceed the bullish in the appointment market.

The long/short ratio is an important sentiment indicator in the derivate trade, which awaits the number of long positions that expect price increases, with short positions that expect price declines.

implies a ratio of one ratio that more traders bet against the price than the rally.

The increased short interest emphasizes the caution among the market participants who may see the rally as excessive or by short-term speculation instead of sustainable fundamental data.

This divergence between price movements and futures decent has raised concerns about the sustainability of the current upward trend of StX.

rsi overbought

The other bear indicator is The relative stringth index (rsi) from) Stx , which is currently 72.95.

The RSI is a widespread momentum oscillator that assesses whether an asset is overbought or oversized, based on the latest price movements.

Values ​​over 70 indicate overbought conditions that typically precede a drop in price, while values ​​under 30 indicate oversold conditions.

The rising tendency of the RSI indicates that Stx could approach a local maximum.

A persistent value in the overbought area has triggered historically short-term corrections in other cryptocurrencies.

If a correction takes place, the altcoin could possibly fall at its annual low of $ 0.47.

Resistance at

Despite overhanged conditions and the bearing sentiment, the rally could still gain momentum if the demand continues.

dealers observe the $ 1.07 brand as the next important resistance zone.

If StX manages to break through this upper limit, this could be a sign of continuing the bullish trend and short-term bear expectations are invalid.

Historically, old coins with strong community support and application narrative technical indicators during outbreak phases.

A failure to break through this resistance could confirm the bearish thesis and increase the likelihood of return to previous levels of support.

Price at a crossroads

The current divergence between price development and trader seniment indicates a critical point for stx.

While the Altcoin has experienced a remarkable increase in the value and the commercial volume, the presence of a significant short interest and overhanged techniques represents a potential threat to sustainable momentum.

whether the token can maintain its increase depends on the broader market funding and the conviction of investors.

If the purchase pressure continues, the bullish outbreak could continue. However, if the traders of the traders prove to be correct, Stx could soon make its profits again.