Analyst Bullish on Stacks (STX)
Cryptocurrency analyst Nicholas Merten is bullish on Stacks (STX), a Bitcoin (BTC) ecosystem altcoin that has surged over 70% in the past two weeks. Merten believes STX could rally exponentially if Bitcoin continues its bull run.
Strong Momentum Since November 2022
Merten pointed out STX’s strong bullish momentum since November 2022, characterized by higher highs and higher lows. He noted that STX has rallied about 619% from its bottom in August 2023 to its current price in February 2024.
Potential for Sizable Moves
Merten believes STX has the potential to make sizable moves and could be a significant player in the current market cycle. He highlighted that STX has made larger moves in the past compared to other cryptocurrencies.
Current Price and Trading Activity
At the time of writing, STX is trading at $2.63, up by around 75% from its February 6th closing price of $1.13.
Disclaimer
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