• STX completed a breakout and confirmed a retest near the $0.0757 level after weeks of decline.
• Strong support has formed near $0.0582, with immediate resistance at $0.0904 and higher targets at $0.1278 and $0.1643.
• Daily price structure shows a shift in momentum, with buyers defending new higher levels following the trendline break.
  

STX has recently completed a breakout and retest formation on the daily chart, coinciding with a gradual rebound from its recent bottom. The price action shows an upward shift following a sustained downturn that began in early June. As of the 2nd of July, the asset was traded at 0.0757 with a growth of 1.88% per day.

This was after a breakout out of a downward trendline that had been limiting the price movement over several weeks. The performance of STX is in line with the growing market demand in the Layer 1 and Layer 2 protocols, which further provides context to its current movements. However, this analysis will focus solely on the available price data and visible technical levels.

Key Levels Define Range After Prolonged Decline

The chart illustrates a multi-week downtrend that lasted through most of June. STX repeatedly failed to break above lower highs during this stretch, forming a downward-sloping resistance. Price eventually found support near the $0.0582 level, establishing a potential base. After multiple tests of this support, buyers managed to break above the descending trendline late in June.

Following this breakout, a short retest confirmed the move, and the price began climbing. Current levels now hover near $0.0757, just above the immediate resistance of $0.0758. With the former downtrend broken, the next key resistance appears at $0.0904, followed by $0.1278. Each of these levels has previously acted as rejection zones.

Retest Zone Completes as Buyers Push Toward Resistance

The price range now reflects an early recovery phase. After bottoming at $0.0582, STX steadily moved upward, with visible price compression in late June. That period was followed by a breakout on rising volume. The successful retest at the trendline suggests prior resistance has turned into temporary support.

While STX remains below the $0.0904 resistance, price behavior has shifted. Buyers are now defending higher levels and moving the short-term range upward. The nearest support zone lies between $0.0582 and $0.0630, where previous consolidation occurred.

Short-Term Outlook Focuses on Upcoming Resistance Bands

STX’s immediate task is to reclaim the $0.0904 level. Above that, the chart shows a potential rise toward $0.1278. The long consolidation phase near the lower range may now provide a springboard. The upper resistance band at $0.1643 remains a possible technical ceiling in case momentum extends further.

Meanwhile, price activity remains within a well-defined horizontal structure. The reaction at each key resistance will likely shape the direction moving into mid-July.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed