While the bullish prediction of SGT lies between USD 1.0474 and USD 2.5728, the bearish forecast is at USD 0.3186. The price might reach USD 4 soon. The RVOL indicates the weakness of participants in the trend, the MA signals a bullish trend, and the RSI implies an overbought state.
The STG token runs on the Ethereum network, allowing the Stargate Finance ecosystem to facilitate cross-chain transfers on different blockchains. The crypto asset also compensates liquidity providers that support Stargate Protocol (STG) operations.
The Prediction of the Price of STG for 2022
STG formed a falling wedge pattern, where the upper trendline connects the highs while the lower trendline connects the lows. That shape signals a bullish reversal, indicating a break in the price trend toward an upward trend.
Since the value of STF is in the USD 0.6806 range, it might reach the USD 0.6922 and USD 1.0315 resistance levels. If the trend suffers a pullback, the price might drop to USD 0.6114.
The Support and Resistance Levels of the STG Price
The daily charts show that STG has experienced an upward trend over the last month. If this trend continues, the crypto asset might run alongside the bulls by breaking the resistance at USD 2.5728.
If investors turn against cryptocurrencies, the price of STG could plummet to nearly USD 0.3186, signaling a bearish trend.
The RVOL, MA, and RSI of the STG Price
The STG Relative Volume (RVOL) indicates that the trading volume has changed over time. This index is below the cutoff line, showing the weakness of participants in the trend.
The Moving Average (MA) of STG shows that the price is above 50 MA for the short term, indicating a bullish trend. Since the price has entered a bullish state, there is a possibility of change at any time.
Meanwhile, the Relative Strength Index (RSI) is 61.28, implying an overbought state. However, traders must trade carefully, as a significant price reversal might happen shortly.
The ADX and RVI of the Price of STG
The STG Average Directional Index (ADX) shows that the price is in the 40.6802 range, indicating a strong trend. It measures the strength of price movement in positive and negative directions using DMI indicators.
The Relative Volatility Index (RVI) measures the constant deviation of price changes over time. The RVI of STG is below 50, indicating low volatility. Since the RSI is at 61.28, there is confirmation of a possible sell signal.
The prices of Ether (ETH), Bitcoin (BTC), and STG move in a dissimilar trend, indicating that BTC and ETH while STG drops.
STG is trading at around USD 0.781321 and has accumulated an 18.1% gain over the last 24 hours. While its daily trading volume is above USD 103.06 million, its market capitalization is about USD 102.65 million, according to CoinGecko.
By Alexander Salazar
