STXUSDT is preparing for an impulsive wave 3

2023年1月16日

It appears that STXUSDT is preparing for an impulsive wave 3. Support has been found at the 0.618 Fibonacci level, and by using Fibonacci extension, the following resistance points have been identified. Although it's just a possibility at this point, STXUSDT could be quite intriguing.

2023年2月19日

注释

As anticipated in my analysis on January 16th, STXUSDT has now beautifully broken out of the triangle after an impressive textbook correction at the 0.618 Fibonacci retracement. This type of correction is a typical feature of a wave 2 in an Elliot wave count, which indicates that STXUSDT is now ready to embark on its third impulsive wave, often referred to as the most explosive one.

Considering the increasing volume, explosive surge in the number of transactions on the network, and the Chris Moody and Squeeze momentum indicator, we can expect a swift development in the price towards the next resistance levels: 0.57 USD, 1.06 USD, 2.85 USD, 5.96 USD, 8.16 USD, 13.17 USD, 41.74 USD, and ultimately 78.5 USD.