{"id":90757,"date":"2024-05-02T00:35:42","date_gmt":"2024-05-02T04:35:42","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=90757"},"modified":"2024-05-02T00:35:43","modified_gmt":"2024-05-02T04:35:43","slug":"stacks-price-prediction-as-stx-token-slides-under-2","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=90757","title":{"rendered":"Stacks Price Prediction as STX Token Slides Under $2"},"content":{"rendered":"
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Stacks Price Prediction as STX Token Slides Under $2 \u2013 How Low Will STX Go?<\/figcaption>

As Bitcoin (BTC) corrects to its lowest levels in over two months below $60,000, its largest layer-2 scaling blockchain Stacks (STX) is also in decline, with the Stacks price hitting its lowest levels since mid-February below $2.0.<\/p>\n

The Stacks price has since bounced back to around $2.14, with STX now flat on the day.<\/p>\n

But it might not be long until STX breaks more forcefully to the downside of $2.06 and the $2.0 level.<\/p>\n

That\u2019s because Stacks largely takes it cue from what Bitcoin is doing, as well as how altcoins are performing.<\/p>\n

And, as of now, pretty much the entire crypto space in a state of bearishness.<\/p>\n

Spot Bitcoin ETF flows have been negative now for five days, as per data presented by The Block.<\/p>\n

As per The Block, US ETFs have seen outflows now for five straight days.<\/figcaption><\/figure>\n

That\u2019s not surprising given recent macro headwinds. While today\u2019s Fed policy announcement didn\u2019t contain any surprises, it reinforced the message that rate cuts remain some way off.<\/p>\n

The Fed has turned more hawkish recently due to inflation remaining uncomfortably high since the start of 2024.<\/p>\n

It\u2019s no surprise then that the Bitcoin price, as well as altcoin markets, have suffered a correction.<\/p>\n

Here\u2019s Where the Stacks Price Is Headed Next<\/strong><\/h2>\n

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So, risks seem tilted to the downside for Stacks (STX). The next major support level, assuming the January highs at $2.06 goes, is the 200DMA.<\/p>\n

The 200DMA currently resides just above $1.80. A break below here would send a significant bearish signal.<\/p>\n

The next major area of support that traders would target would be around $1.25.<\/p>\n

If Stacks was to fall 40% to here, its market cap would subside to under $2 billion.<\/p>\n

This could be a great time to load up on STX, which remains a major leader in Bitcoin layer-2 scaling.<\/p>\n

The Stacks price could slump all the way as low as $1.25 support. Source: TradingView<\/figcaption><\/figure>\n

Amid the bearish outlook for altcoins like Stacks, traders are hunting for alternatives that could deliver near-term upside.<\/p>\n

Presale investing is an often-overlooked strategy that can deliver strong returns.<\/p>\n

And one presale has caught the attention of analysts at Cryptonews \u2013 Mega Dice.<\/p>\n

The well-established crypto casino just launched a presale of its utility token DICE.<\/p>\n

DICE holders get big cashback benefits on their wagers and can also generate passive income via DICE staking.<\/p>\n

The crypto casino is also running a $750,000 airdrop to reward early presale investors.<\/p>\n

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The project has already raised $660,000. And potential investors better move quickly, as when the $1 million milestone is hit, the DICE price will rise.<\/p>\n

Check Out Mega Dice Casino\u2019s Presale<\/strong><\/p>\n

\t Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/em> <\/p><\/div>\n