The post STX Technical Analysis Feb 3 appeared on BitcoinEthereumNews.com. STX’s 24-hour volume reached $73.70 million, strongly confirming the recent rise, butThe post STX Technical Analysis Feb 3 appeared on BitcoinEthereumNews.com. STX’s 24-hour volume reached $73.70 million, strongly confirming the recent rise, but

STX Technical Analysis Feb 3

4 min read

STX’s 24-hour volume reached $73.70 million, strongly confirming the recent rise, but market participation remains cautious amid the overall downtrend. This suggests short-term accumulation signals, while highlighting the need for big players not to ignore distribution risks.

Volume Profile and Market Participation

STX’s current volume profile stands out with $73.70 million in trading volume over the last 24 hours. This level shows a 20-30% increase compared to recent weekly averages and indicates healthy participation supporting the 16.94% price rise. From a market participation perspective, increasing volume on up days is positive; in healthy rallies, volume carries the price higher. However, in the context of the overall downtrend, this volume remains far from peaks – for example, still 40% below previous peak levels. This suggests it could be a retail-driven recovery with limited institutional participation. Multiple timeframe (MTF) analysis detected 14 strong volume levels: 4 supports/2 resistances on 1D, 2S/2R on 3D, and 2S/4R distribution on 1W. These levels cluster particularly around $0.2860 support (71/100 score) and $0.3263 resistance (80/100), indicating market participants are positioning in these areas. The volume profile forms a Value Area High (VAH) around $0.32, while the low-volume Point of Control (POC) stays below $0.30 – reflecting buyers attempting to gain dominance but not yet fully in control.

Accumulation or Distribution?

Accumulation Signals

Signs favoring accumulation are clear: Volume increased as price broke above EMA20 ($0.30), reminiscent of a classic Wyckoff accumulation phase. With RSI at 51.26 in neutral territory and volume matching the rise, it implies hidden buyers (smart money) accumulating at lower levels. MTF support levels ($0.2860, $0.2623) are reinforced by volume; volume tails here confirm buying pressure. The volume during the recent 17% jump being higher than on previous down days could signal a shift from distribution to accumulation. Additionally, there’s no weekly timeframe volume divergence – volume decreased as price fell, typical accumulation behavior.

Distribution Risks

Distribution risks should not be ignored: While MACD shows a negative histogram, the volume increase may stem from short covering rather than genuine demand. Resistance levels ($0.3263, $0.3546) are supported by weekly volume (4R/2S), where big players could start selling. If volume decreases while pushing price to the $0.38 supertrend resistance, it would signal a trap rally (shakeout). In the overall downtrend, 24h volume is still below peak levels; this suggests weak hands accumulating while institutions prepare for distribution.

Price-Volume Confluence

Does volume confirm the price action? Short-term, yes: The 16.94% rise matches $73.70M volume, confirming bullish momentum – a healthy pattern. However, in the downtrend context, there’s divergence: Although price is above EMA20, volume was low during prior declines and now spikes suddenly. This shows a lack of volume confirmation; for sustainability, volume must increase on resistance breaks. With RSI neutral and a volume spike, momentum is fresh but contradicts MACD’s bearish signal. In summary, price alone is misleading; volume confirms short-term buying strength but conceals long-term weakness.

Institutional Activity

Big player (institutional) activity is hidden in volume profile asymmetries: High-volume blocks at support levels ($0.2860) indicate whale buys – likely aligning with futures open interest increases (STX Futures Analysis). On the weekly, 1W resistances (4R) carry high volume weight, potentially liquidity hunts. However, exact positions are unknowable; only patterns: Low-volume declines + high-volume rises favor smart money accumulation. Spot volume increase (STX Spot Analysis) shows retail influx, with institutions staying quiet. Key to watch: If volume delta is positive (buying volume > selling), bullish bias strengthens.

Bitcoin Correlation

With BTC at $78,320 (+0.40%) showing mild recovery but sustaining downtrend and bearish supertrend (supports $77,581-$74,604), STX – a highly correlated altcoin – remains pressured if BTC fails to break $79,364 resistance; STX’s $0.3263 resistance syncs with BTC $79k. If BTC dominance doesn’t fall, altcoin rallies stay limited; a BTC $63k support break could slide STX to $0.23. Conversely, a BTC breakout above $81k could carry STX to $0.47, but current BTC weakness caps STX volume.

Volume-Based Outlook

Volume-based outlook is short-term bullish, long-term cautious: If $0.2860 support holds, accumulation continues with volume increase toward $0.47 target (52% upside). Volume drop and rejection at $0.3263 triggers distribution toward $0.1355 bearish target. Key: Stay speculative until volume confirms price. Healthy volume = increasing on rises, decreasing on falls; current pattern is close, but BTC risk is high. Investors should monitor MTF volume levels – the market’s conviction compass.

This analysis uses Chief Analyst Devrim Cacal’s market views and methodology.

Senior Technical Analyst: James Mitchell

6 years of crypto market analysis

This analysis is not investment advice. Do your own research.

Source: https://en.coinotag.com/analysis/stx-technical-analysis-february-3-2026-volume-and-accumulation

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

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