Why Is StormX (STMX) Crypto Price Pumping? Here Are the Next Key Levels

The price of StormX has pumped by more than 40% in the past 48 hours. This rapid increase has brought some attention to the token.

The price of StormX (STMX) has pumped by more than 40% in the past 48 hours, bringing some attention to the token.

The spike was triggered by a breakout from a descending trendline that had acted as a resistance to price since March.

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The STMX price closed above the trendline 2 days ago, prompting a lot of buy pressure that spiked the price up.

This rush to push the price higher could be due to the project's reputation as being one of the first global crypto-based solutions to launch.

After breaking out of the descending trendline, the price also broke out of price resistance at $0.006961. The price has retested that point as support and is now aiming for the next major resistance at around $0.0082.

If that resistance breaks, then we could see another spike to $0.0088.

The value of RSI is currently 80, which means it is overbought. We could see the price retrace back to the support at around $0.006961 before it continues.

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