Stacks (STXUSDT) Market Overview: Extended Downtrend Amid Key Support Break

• Stacks (STXUSDT) fell 11.2% over 24 hours, closing at $0.647 after a sharp drop from $0.701.
• Price broke below key support near $0.675–0.68, confirming bearish momentum.
• RSI and MACD signal oversold conditions, but divergences suggest caution.
• Volume surged during the breakdown, validating the move lower.
• Volatility expanded significantly during the session, with a large bearish engulfing pattern visible.

Stacks (STXUSDT) opened at $0.679 on 2025-08-24 12:00 ET, reached a high of $0.703, fell to a low of $0.641, and closed at $0.647 by 12:00 ET on 2025-08-25. Total 24-hour volume reached 4.73 million contracts, with notional turnover at $3.03 million. The price action featured a large bearish engulfing pattern and a breakdown below key support levels.

Structure & Formations

A key support level at $0.675–0.68 was decisively broken during the session, confirmed by volume and price action. A bearish engulfing pattern formed around 08:00–09:00 ET, indicating strong distribution. A bearish pinbar at $0.701 and a long lower wick on the $0.641 candle suggest exhaustion and potential consolidation ahead.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, forming a bearish signal. Daily moving averages (50, 100, 200) all point lower, reinforcing the bearish bias. Price remains below all key MAs, indicating a continuation of the downtrend is likely.

MACD & RSI

The MACD line turned negative and crossed below the signal line, confirming bearish momentum. RSI dipped below 30 into oversold territory, but diverged with price action in the final hours of the session—price continued lower while RSI failed to follow. This signals potential for a short-term bounce but not a reversal.

Bollinger Bands

Volatility expanded sharply during the breakdown, with the bands widening as price moved from $0.675 to $0.641. The closing candle sits near the lower Bollinger band, indicating potential for a retest of that level or a pullback into the band’s mid-range.

Volume & Turnover

Volume spiked during the breakdown below $0.68, with a 15-minute candle at 19:45 ET showing a massive volume spike of 761,104 contracts. Notional turnover rose in tandem, confirming the move. A divergence between the final price decline and lower turnover in the last two hours may hint at exhaustion.

Fibonacci Retracements

Key Fibonacci levels on the 15-minute chart (38.2% at $0.673, 61.8% at $0.656) were tested and failed. The $0.641 low aligns with the 61.8% level of a recent bullish swing, now acting as a pivot point. Daily Fibonacci levels suggest a potential target around $0.625 for further downside.

Price may find near-term support at $0.641 and could retest $0.655–0.66 for a potential bounce. However, without a strong reversal candle or a surge in volume, the bias remains bearish. Investors should monitor for a break below $0.635 as a potential signal of deeper bearish momentum.