• Stacks broke above a falling wedge pattern on Wednesday, suggesting a bullish move.
• On-chain data shows open interest is rising, signaling new or additional money in STX. 
• A daily candle stick close below $1.127 would invalidate the bullish thesis.

Stacks (STX) broke above a falling wedge pattern on Wednesday, sugesting a bullish move ahead. As of Thursday, it is currently trading 9% higher at $1.664 at the time of writing. On-chain data indicates that open interest is increasing, signaling new or additional capital entering the market, potentially paving the way for a rally in the coming days.

Stacks price sets for 18% rally

STX price retested the support area between $1.297 and $1.127 and bounced on Monday, breaking above the falling wedge pattern on Wednesday. At the time of writing, it trades 9% up to $1.664 on Thursday. If the upper trendline of the wedge pattern supports a pullback, STX could rally 18% to retest its June 16 high of $1.969.