Stacks (STX) serves as a layer-1 blockchain solution designed to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC).
This smart contract is brought to Bitcoin without changing any of the features that make it so powerful, including its security and stability.
Launched in the 2020 quarter (Q4) by Blockstack company PBC, founded by Muneeb Ali and Ryan Shea.
Interestingly, the Stacks system is grounded through Bitcoin (BTC) technology to make it more powerful, without having to fork or change the original Bitcoin blockchain by directly connecting the Bitcoin blockchain via proof-of-transfer (POX).
Additionally, Stacks was the first cryptocurrency to receive SEC eligibility for sale in the United States by launching a $ 28 million Reg A+ cash sale offer for STX tokens in July 2019.
Next, examine the STX/USDT price movement chart.
STX exhibited a good market record by generating a price increase of over 500% in the 4 months from January to April 2021 by recording the latest all -time high (ATH) at the $ 2.82 price level.
After that, STX failed to maintain its uptrend until it declined to the SBR (support become resistance) zone around $ 0.90 at the end of May.
At the opening of the June market, the horizontal (sideway) movement of the STX to see the bullish pattern fail to continue until it slips to the support level around $ 0.60.
Crypto analysts expect that if STX manages to break the support level around $ 0.70, the price movement is expected to make a rise again to the SBR (support become resistance) zone around $ 0.90 before making a higher rise.
However, if the STX price remains a bearish trend, the risk of breaking the $ 0.50 low is so great that it is likely to continue the decline to previous lows or make a rebound.
