Key Takeaways
- STX from Stacks rose nearly 7% over the past 24 hours and is trading at $0.378.
- The coin could fall back toward $0.35 if the $0.39 resistance level holds.
STX Reaches $0.39 Amid Rising TVL
STX, the native token of Stacks — a layer-2 protocol built on Bitcoin — is trading around $0.37 after gaining roughly 7% in the last 24 hours.
The rally coincides with a growing Total Value Locked (TVL) for Stacks. Data from DeFiLlama show Bitcoin’s TVL at $7.176 billion, up from $6.728 billion a week earlier.
Interest in Bitcoin-based DeFi utilities is rising again, and Stacks remains one of the leading DeFi platforms in the Bitcoin ecosystem.
DeFiLlama also reports that Stacks’ own TVL stands at $129.73 million, up from $116.62 million last week.
Retail traders are showing renewed interest in the network as well. Open interest (OI) in STX futures is currently $27.79 million, versus about $16 million a week ago, indicating fresh capital inflows driven by improved risk appetite among traders.
STX Could Slip Below $0.35 If $0.39 Resistance Holds
The four-hour STX/USD chart looks bullish and momentum has strengthened after STX climbed roughly 17% following a bounce off the 50-day EMA at $0.3060 on Sunday. At the time of writing, STX trades at $0.3781 and could push higher in the near term.
If momentum continues, STX could reach the $0.413 resistance level — a level not seen since November 13. A sustained bullish move could drive STX toward $0.50, a price last tested before the October 10 deleveraging event.
The four-hour Relative Strength Index (RSI) sits around 83, signaling elevated buying pressure. Because the RSI is in overbought territory, STX may face a short-term pullback.
Should that occur, STX may retest the $0.3500 level, which previously acted as resistance and has since turned into support, while the 50-day EMA near $0.3060 should serve as a stronger support zone.