The Stacks Network has launched the Nakamoto upgrade, a major hard fork designed to enhance Bitcoin transactions on its layer-2 blockchain significantly. This upgrade decouples Stacks block production from Bitcoin’s 10-minute block interval, enabling Stacks to produce blocks approximately every 5 seconds. This results in a 120-fold increase in block production speed and drastically faster transaction confirmations. Nakamoto also introduces 100% Bitcoin finality, ensuring Stacks transactions are as secure and irreversible as Bitcoin’s own.
It mitigates miner extractable value (MEV) vulnerabilities, promoting fairer rewards and network integrity. The upgrade prepares Stacks for sBTC, a programmable Bitcoin asset enabling decentralized Bitcoin bridging. Given the latest upgrade, let’s examine how this move impacts the STX price. Without further ado, let’s jump into the STX price analysis and explore possible scenarios in the coming days.
STX Price Analysis of the Last 24 Hours
Stacks commenced trading at $0.693 yesterday, enduring a downward breakout from the trading range late on the previous day. With a massive midnight golden cross, Stacks scaled the charts rapidly, reaching $0.780 by 2:00 UTC. The 10% rise in the first two hours of trading led to overbought conditions on the RSI. A trend reversal was expected, and it soon arrived with a 2:15 UTC death cross. This wide death cross led to an extended downtrend, costing the Stacks price $0.733 at 7:15.
Chart 1: published on TradingView, April 23, 2025
The STX price staged short reversals on the way, but could not override the downtrend. Around the same time, the RSI signalled oversold conditions, and a bullish reversal was seen. An uptrend formed, and STX started climbing gradually. Around noon, STX traded at $0.756. A period of consolidation followed as STX oscillated around the $0.760 mark. This trading range persisted until 15:00 UTC. At this point, a golden cross corroborated an upward STX breakout as the positive run resumed.
The upturn again led STX on a slow climb to $0.792, where it consolidated for a while. A short reversal to $0.778 followed. However, at 20:00, a golden cross formed, and STX ascended swiftly to face rejection at the $0.825 mark. Multiple resistance tests followed, but STX failed to breach the level. With the coin overbought again, a much-anticipated downtrend followed, thanks to the 21:40 death cross. A downward channel followed, with STX at $0.812 at midnight.
Stacks Price Movements Today: April 23, 2025
Trading began at $0.812 today, with the coin holding close to $0.825. The day started with a death cross, and STX soon slumped to $0.795. However, rapid action on the MACD followed, and the coin was back to testing the resistance half an hour later at 1:30. Since then, the RSI has stabilized near the midline, and the price has followed suit, consolidating around the $0.81 mark. A trading range was seen in the works till 5:00 AM. However, a death cross around the same time led it downward to $0.798. The last update saw STX trading at $0.806
STX Price Prediction: Will STX Be Worth $1 Soon?
STX is having an excellent Q2 so far. It has reached $0.8, a valuation that has eluded it for a long time. This marks a month-long high for Stacks, with a similar price last seen in late March. STX has recovered remarkably in the past few days, with a 38% price rise in the last week. Given the broader bullish trend in the crypto market, STX looks poised for further appreciation in the coming days. Even now, conditions are ripe for a resistance break. So, the price may soon exceed the $0.825 resistance and veer closer to $1. If another week goes in STX’s favor, that may soon be a reality.
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