STX Price Breaks Out Of Its Important Resistance Level!

The cryptocurrency market has displayed a strong bullish price action with top tokens recording significant uptrend in their respective portfolios.

The cryptocurrency market displayed a bullish trend on Monday, with major tokens showing a significant uptrend in their respective portfolios. The market leader, BTC price, recorded a jump of 3.21%, reclaiming the $71,000 mark.

However, the BTC price faced resistance at $71,400 and dropped below the 50 Fib retracement level of the recent upward move from the swing low of $60,800 to the high of $73,465.

Moreover, the key support levels for BTC price on the downside are Fib retracement levels of 23.6% at $73,465 and 38.2% at $71,840.

On the upside, the next major resistance is Fib retracement level of 61.8% at $70,460, followed by the 70,000 psychological level.

Top altcoins like ETH, ADA, BNB, XRP, SOL, DOT, TRX, SHIB, and GMT showed a recovery in their respective portfolios. The ETH price increased by 2.6%, ADA price rose by 3.4%, BNB price went up by 1.8%, XRP price surged by 2.3%, SOL price rose by 3.3%, DOT price increased by 2.1%, TRX price went up by 3.9%, SHIB price rose by 2.3%, and GMT price surged by 4.1%.

notably, the STX price added 11.38% within the past day and 13.78% over the past week. With a YTD return of 48.16%, this crypto token has secured the 34th place in the global crypto market list by market cap.

The Stacks (STX) price encountered resistance at $2.135 and dropped below the 50 Fib retracement level of the recent upward move from the swing low of $1.675 to the high of $2.22.

However, the crucial support levels for STX price on the downside Fib retracement levels of 23.6% at $2.22 and 38.2% at $2.18.

On the upside, the next major resistance is Fib retracement level of 61.8% at $2.04, followed by the 2.00 psychological level.