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The price of StarGate Finance has risen by 68% in the last 24 hours Trading at $0.8506 As of 7:10 AM EST, it had a 4,806% jump in trading volume to $739 million.
The explosion was prompted by the news that Upbit, the largest cryptocurrency exchange in South Korea, will list STG.
Upbit also clarified that STG deposits must be made through the Ethereum network and warned users not to transfer from other blockchains. STG trading will be available in South Korean Won (KRW).
StarGate Finance price reaches resistance at $0.8841 after strong bullish support
STG price formed a sharp engulfing candle, pushing the price to the previous resistance level of $0.8841. This move came after the bulls established a strong support at $0.4531, preventing the bears from making more profit after a corrective phase.
STGUSDT analysis. Source: Tradingview.com
Despite the decline, the bulls pushed the price higher, sparking a new high. If this momentum continues, it may break through the current resistance level, indicating continued bullish momentum for STG.
Technical indicators also point to a bullish outlook. The 50-day and 200-day simple moving averages are trading below the current price at $0.5105 and $0.5911 respectively, providing support. If the upward trend continues, these moving averages could rise further, reinforcing the overall bullish sentiment for StarGate Finance price.
In addition, the Relative Strength Index (RSI) has bounced from its mid-line level of 50 to 75 in overbought territory, indicating strong buying pressure. Sustained momentum could push it higher into overbought territory, reinforcing the initial bullish rally.
The MACD is also approaching the neutral level in an upward move, with the blue line crossing above the orange line, indicating positive momentum. Although they are below the neutral level, the chart bars are also positive, which further contributes to the bullish sentiment.
StarGate Finance price bulls may face a pullback
If the upward trend continues, STG bulls could push the price beyond $0.8841. This continued increase in its price suggests that it could reach a new high of $1.45 soon, marking a significant rebound in its market value.
but, The bulls may face resistance at the high of $0.8841, possibly forming a double top pattern which could trigger a trend change to the downside.
If the price struggles to cross this crucial resistance, the $0.6663 support level will serve as a safe landing platform for the bulls.
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