The cryptocurrency markets are closely setting up for the critical alterations on possible flips as the 4th quarter approaches. Two assets that deserve more attention are $PYTH and $STX. Both are showing strong indications of bullish trends that could further swell to large up movements in case prevailing trends are sustained. These developments should therefore be closely monitored by investors and traders for the possibility of the upside.
PYTH/USDT Trajectory
At press time, PYTH is valued at $0.2817, trading between crucial support near a descending channel pattern as highlighted by analyst Captain Faibik. This support has been tested many times, which can point to a bullish reversal.
$PYTH is on the Verge of Falling Wedge Upside breakout..📈
— Captain Faibik 🐺 (@CryptoFaibik) September 12, 2024
Looks Pretty solid for the Q4, Expecting +140% bullish Rally..#Crypto #PYTH #PYTHUSDT pic.twitter.com/JpOor77dIn
If the price remains at the current price or above $0.27, there may be a rebound towards the upper edge of the channel. A breakout above the significant resistance level of $0.30 – $0.32 would signal that the bulls have broken through the resistance levels and a rally could be in the offing.
Major Crypto Trends This Week: NOT, STX, ORDI, and INJ ShineHowever, if the price goes down to below $0.27, it could go lower to the next support level which is at $0.20. Such a move would probably signal the sustained decline of the trend.
Conversely, breaking above $0.32 would pave the way for a more significant upward move, targeting the long-term resistance level of $0.73, representing a 134.77% increase from the current price. The current trading volume for Pyth Network is $25,036,525, up by 3.91% over the last 24 hours, suggesting renewed market interest.
STX: Potential for a Massive Breakout
As per further analysis by Captain Faibik STX/USDT is also sitting at the edge of the breakout zone. At publication, the price is at $1.63, ranging inside a descending channel formation, further continuing to print lower highs and lows.
$STX is gearing up for the Massive Breakout so Keep an eye on it..🧐#Crypto #STX #STXUSDT pic.twitter.com/rj5o2iX3Fi
— Captain Faibik 🐺 (@CryptoFaibik) September 12, 2024
The current price level is close to the lower trend line of this descending channel. If the price manages to break through this resistance level, then it could be an indication of a bullish breakout. Specific levels of resistance to focus include $1.75 – $1.80. A close above this level may extend the move further up to $2.90 – $3.00, the next crucial level of resistance.
If the trend persists, the price may reach the next higher resistance of $3.90-$4.00, which is a neural network version of 146.88% increase from the current price. On the downside, if the price fails to break out and falls back within the channel, the next support level could be around $1.10-$1.20. Stacks is currently operating at a volume of $86,536,588, increased by 4.45% within the last 24 hours which denotes greater investor interest.
