Key Takeaways
- STPT’s price broke out of a multi-week falling wedge amid renewed AI altcoin interest.
- The Open Interest exceeded $100 million, signaling growing market confidence in the altcoin.
- The golden cross on the daily chart suggests that STPT’s price might break the $0.092 resistance.
STPT, the native token of the Standard Tokenization Protocol, has surged 100% over the past month. During this period, its price skyrocketed from $0.038 to $0.080.
As a result of this explosive run, STPT’s market cap has surged beyond $150 million. In this analysis, CCN breaks down the factors driving STPT’s sharp rise and examines what key indicators reveal about its next potential move.
STPT Explodes After Q1 Correction
From a technical perspective, STPT kicked off its rally after breaking out of a falling wedge pattern. This move aligned with renewed interest in altcoins and AI agent fundamentals.
Between Feb. 25 and April 8, STPT fell from $0.12 to $0.034. Around this time, the price hit lower highs and lower lows, eventually forming the falling wedge.
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Later on, STPT’s price broke out of the upper trendline of the falling wedge amid rising buying pressure. On the daily chart, we observed that the breakout happened as the Bull Bear Power (BBP) reading switched from positive to negative.
The change in the BBP trend neutralized bearish pressure. Since then, the BBP reading has remained positive, indicating that bulls are in control.
Should this remain the same, STPT’s market value might continue to climb. In line with this trend, the Chaikin Money Flow (CMF) reading has broken past the zero signal, indicating that buying volume outweighs selling pressure.
If this remains the same, STPT’s price might surge well above the $0.080 mark.
Open Interest Surges Past $100M
From an on-chain perspective, Santiment data reveals that STPT’s Open Interest (OI) has surged past $100 million — its highest level since Jan. 25. OI is the sum of the value of all open contracts in the market.
An increase in the metric indicates that new money is entering the market, mostly from buyers. A decrease in the OI, on the other hand, indicates rising selling pressure in the derivatives market.
Therefore, since the OI is rising alongside STPT’s increasing price, participants are betting on an extended increase, confirming the rally’s strength.
On X (formerly Twitter), comments have been made about STPT’s price action. A user with the handle Decilizer noted that Bitcoin’s (BTC) uptrend could reinforce the bullish outlook.
“STPT gains traction at $0.048 support, aiming for $0.14. Bitcoin’s uptrend reinforces bullish sentiment. With increasing volume, traders should watch for breakout confirmations and MACD crossovers,” The user disclosed .
Beyond Decilizer’s take, several other analysts echoed bullish sentiment, predicting further upside for STPT. But the key question remains: where is the token headed next?
STPT Price Analysis: Rally Gains More Strength
Zooming into the daily chart again, we noticed that STPT’s price has formed a golden cross. For those unfamiliar, a golden cross is a bullish sign that occurs when the shorter Exponential Moving Average (EMA) rises above the longer one.
In this case, the 20 EMA (blue) has crossed above the 50 EMA (yellow). If this trend continues, STPT’s price could climb past the resistance at $0.092.
If validated, the next target for the cryptocurrency might be a run toward $0.11 at the 0.382 Fibonacci retracement level.
On the contrary, STPT’s price might fail to hit $0.11 if the supply on exchanges continues to climb. As of this writing, on-chain data shows a rise in exchange inflow, suggesting that some STPT holders might be ready to book profits.
If this intensifies, the token might be unable to breach the supply zone at $0.12. In that case, the golden cross could be invalidated, and STPT’s price might decline toward $0.057.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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