Stacks (STX) Price Prediction: STX Crypto Ripe for a Bullish Breakout That Could Push It 84% Higher

Bitcoin price went parabolic on Monday as the path to $100,000 became clearer. BTC surged to $88,000 for the first time on record, and the Fear of Missing Out (FOMO) could push it much higher in the coming days. Stacks (STX), a key layer-2 network for the Bitcoin ecosystem could be the next big thing.

Bitcoin price soared to a new all-time high on Monday, rising above $88,000 for the first time ever. The Fear of Missing Out (FOMO) is palpable, and traders are piling into the market in droves. But what about altcoins?

One coin that could be set for a massive rally is Stacks (STX). STX is a layer-2 network for the Bitcoin blockchain that allows developers to build and deploy decentralized applications (dApps).

The STX token price has been consolidating for the past few weeks after rallying sharply from its lows earlier this year. But now, the token is showing signs of strength once again.

A breakout from the upper side of the triangle could see STX price rallying sharply towards the year-to-date highs of $3.86, which would represent a gain of around 84%.

STX crypto price could be set for a breakout from the upper side of an ascending triangle pattern on the daily chart. A breakout from this pattern could see the token rallying sharply towards the year-to-date highs.

The daily chart for STX crypto shows that the token price has been consolidating after rallying sharply from its lows earlier this year. But now, the token is showing signs of strength once again.

STX price has risen above the 50-day and 200-day Exponential Moving Averages (EMA), indicating that the bulls are gaining strength for now. The token has also formed an ascending triangle pattern, a popular bullish chart formation.

It has now moved to the upper side of the triangle, which means that a breakout could happen as the crypto fear and greed index continues rising sharply.

The Relative Strength Index (RSI) and the Stochastic Oscillator have both pointed upwards, indicating that the token will likely have a breakout from the upper side of the triangle.

Therefore, buyers will likely be targeting the next key resistance level at $3.86, which is the highest level that the token has reached so far this year.

This bullish view will become invalid if the coin drops below the lower side of the ascending trendline.

STX crypto has risen sharply in recent months as more people are learning about the Stacks project and its potential. The project is designed to make it easier for developers to build and deploy dApps on the Bitcoin blockchain.

One of the biggest catalysts for STX crypto is the ongoing crypto bull run, which is being driven by the election of Donald Trump as the 45th president of the United States.

Many analysts believe that Trump will be a more crypto-friendly president than Joe Biden, which is good news for the entire crypto market.

Another catalyst for STX crypto is the recent introduction of the Nakamoto upgrade, which brings several new features to the Stacks network.

The most notable feature of the Nakamoto upgrade is that Stacks transactions, once confirmed, are now irreversible. This is a major improvement over the previous system, which allowed transactions to be reversed in some cases.

The Nakamoto upgrade also reduces the amount of transaction times, which will make it easier for people to use the Stacks network.

Finally, the network will also be launching a more technical foundation for the sBTC coin in the coming months.

This launch will likely facilitate the growth of the Stacks ecosystem, which has been growing in the past few months. The network has a total value locked of over $114 million.

Most importantly, institutions are embracing the Stacks ecosystem. Some of the most notable companies that are building on the network are Aptos, Blockdaemon, and BitGo. Grayscale has also launched its Stacks fund that is seeing more inflows.