These 5 cryptocurrencies may continue to surprise to the upside

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Stacks price analysis

Stacks (STX) rallied from $0.52 on March 10 to $1.29 on March 18, a sharp run within a short time. This suggests aggressive buying by the bulls.

The STX/USDT pair is witnessing profit-booking near $1.29 but a positive sign is that the bulls have not ceded much ground to the bears. This suggests that minor dips are being bought. Typically, in a strong uptrend, corrections last for one to three days.

If the price turns up and breaks above $1.29, the pair could resume its uptrend. The next stop on the upside is likely to be $1.55 and then $1.80.

The first sign of weakness on the downside will be a break and close below $1. That could clear the path for a drop to the 20-day EMA ($0.84).

The pair has corrected to the 20-EMA. This is an important level for the bulls to defend if they want to resume the up-move. If the price rebounds off the 20-EMA, the pair could retest the overhead resistance at $1.29. If bulls overcome this barrier, the next leg of the uptrend may begin.

Conversely, if bears sink the price below the 20-EMA, the pair could slide to $1 and then to the 50-simple moving average. A deeper correction may delay the resumption of the up-move and keep the pair stuck inside a range for a few days.

Immutable price analysis

Immutable (IMX) skyrocketed above the overhead resistance of $1.30 on March 17, which completed the inverse H&S formation. This suggests the start of a potential new uptrend.

Meanwhile, the price may retest the breakout level of $1.30. If the price rebounds off this level with strength, it will suggest that the bulls have flipped the level into support. Buyers will then try to kick the price above $1.59 and resume the uptrend. The IMX/USDT pair may then rally to $1.85 and later to $2. The pattern target of the reversal setup is $2.23.

This positive view could be negated in the near term if the price slips below the moving averages. Such a move will suggest that the break above $1.30 may have been a bull trap. The pair could then drop to $0.80.

The pair is witnessing a mild correction, which is finding support at the 20-EMA. Buyers are trying to clear the overhead hurdles at $1.59 but the bears are not relenting. If the price breaks below the 20-EMA, the pullback could reach $1.30.

Another possibility is that the price rebounds off the 20-EMA. That will indicate solid demand at lower levels and enhance the prospects of a break above $1.59. If that happens, the pair may resume its uptrend.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.