STX Technical Analysis Feb 28

STX is trading at the 0.25$ level with a 7.89% drop in the last 24 hours, RSI at 43.49 remains in the neutral zone, but MACD gives a hidden bullish signal with its positive histogram; although the overall trend is downward, there are signs of weakening momentum.

Trend Status and Momentum Analysis

STX’s current trend continues clearly downward. On the daily chart, the price is stuck in the 0.24$ – 0.28$ range, and the 7.89% loss in the last 24 hours reflects selling pressure supported by volume – volume remains at a moderate level of 11.56 million $, indicating the decline occurred without institutional accumulation. From a momentum perspective, while the overall picture is bearish, divergences in some oscillators are noteworthy. The price trading below EMA20 (0.26$) reinforces the short-term bearish bias, while the Supertrend indicator points to 0.31$ resistance, creating a strong barrier for upward movement. In multi-timeframe (MTF) confluence, 14 strong levels have been identified: 2 supports/5 resistances on 1D, 2 resistances on 3D, and 2 supports/5 resistances on 1W predominantly. This distribution reveals that resistances dominate for upward momentum, making bearish targets (0.1457$) more achievable. Volume confirmation is weak; although downside volume is increasing, volume in upward pullbacks is only partially supportive, which may indicate momentum fatigue.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI(14) is currently positioned at 43.49 in the neutral zone, neither near overbought (70+) nor oversold (30-) regions. This level shows that RSI has declined less aggressively despite the recent price drop, carrying potential for hidden bullish divergence – as price makes new lows, RSI holds higher lows. There is no regular bearish divergence on the daily chart; on the contrary, RSI flattening in the 40 band on the 1W timeframe implies momentum exhaustion is beginning. If RSI breaks above 50, it could trigger a short-term momentum shift, but the current 43.49 value suggests selling pressure may continue. A similar picture exists in weekly RSI: as price falls, RSI has stabilized between 35-45, signaling potential base formation but no confirmation yet.

Overbought/Oversold Regions

RSI is far from overbought/oversold regions; the 43.49 value indicates sellers hold control but with exhaustion risk. If it approaches the 30 band (near supports at 0.2415$ and 0.2294$), an oversold bounce can be expected – support scores are strong at 70/100 and 74/100 respectively. Above, the 70 RSI level overlaps with 0.2596$ resistance (81/100 score), which could cap a potential rally. In momentum confluence, RSI is not aligned with MACD; while RSI is neutral, MACD is bullish, making this discrepancy critical to monitor.

MACD Signals and Histogram Dynamics

MACD is currently classified as bullish, with positive histogram bars standing out. Although histogram expansion has slowed, it remains in positive territory, signaling momentum slowing within the bearish trend – the signal line crossover recently turned bullish, and the histogram holds above the zero line despite price decline. This supports hidden bullish momentum; as price pulls back to 0.25$, the MACD histogram narrowing but staying positive implies buyers are accumulating at lows. In terms of divergence, MACD line forming higher lows against price lows approaches classic bullish divergence. Histogram contraction shows declining selling momentum, and bullish bias persists as long as it doesn’t drop below the zero line. On the 4H chart, MACD has not stayed below the signal line, boosting short-term recovery potential. If confirmed by volume (current volume moderate), this bullish MACD could target 0.3633$ (25 score).

EMA Systems and Trend Strength

Short-Term EMAs

Short-term EMAs give bearish signals: Price remains below EMA20 (0.26$), squeezed between EMA9 and EMA12. The EMA ribbon is contracting, indicating weak trend strength and entry into a consolidation phase. EMA20 acting as resistance sets a condition for upside breakout requiring a close above 0.26$ – current positioning confirms bearish short-term momentum.

Medium/Long-Term EMA Supports

Medium-term EMA50 forms resistance around 0.28$, while EMA200 at 0.32$ defines the long-term trend. Price trading below EMA50 confirms the downtrend, with the downward-sloping ribbon underscoring bearish trend strength. However, contraction in the EMA ribbon (between EMA20-EMA50) is prone to momentum shift; in a bullish scenario, ribbon expansion upward is expected. Support EMAs (EMA100 at 0.27$) need to be tested.

Bitcoin Correlation

As a highly correlated altcoin with BTC, STX is directly affected by BTC’s downtrend – BTC is weak with a 5.37% drop at 63,984$, Supertrend bearish, and supports at 62,468$/60,000$ critical. If BTC resistances at 64,264$/67,299$ are not broken, additional selling pressure builds in STX, with targets dropping below 0.2415$. If BTC breaks 60,000$, STX bearish target at 0.1457$ activates; BTC above 64,264$ is required for recovery. Rising BTC dominance crushes altcoin momentum; follow STX Spot Analysis and STX Futures Analysis for STX.

Momentum Outcome and Expectations

Momentum oscillators give mixed signals: RSI at 43.49 neutral with divergence, MACD with positive histogram offering bullish hope, EMAs bearish short-term. While the overall downtrend continues, volume confirmation is lacking, MTF resistances dominant (especially 0.2596$/0.3116$). For bullish outlook, RSI above 50, MACD histogram expansion, and EMA20 breakout are needed – target 0.3633$. In bearish scenario, break below 0.2294$ support sees 0.1457$. Monitor momentum confluence; BTC weakness increases altcoin risk. Short-term consolidation, long-term trend change requires oscillator confirmation.