STPT Technical Analysis: Will Buyers Bring A Double Bottom Reversal?

STPT price action shows a reversal from the $0.032 mark ready to create a double bottom reversal pattern. Key technical points: The STPT market price has increased 4.64% over the past 24 hours. The price action shows a higher price rejection in the daily candle. The 24-hour trading volume of Standard Tokenization Protocol is $49.91 Million, indicating a drop of 373%. Past Performance of STPT The recent fall from the $0.062 drives the STPT prices lower to the bottom support at $0.032, accounting for a drop of 40%. The lower price rejection from the bottom support teasing a double bottom pattern formation. However, the bullish reversal loses its momentum as the higher price rejection in the daily candle warns of a reversal. Source- Tradingview STPT Technical Analysis Today, STPT’s price action shows a dragonfly candlestick representing growth in selling pressure. Hence, traders need to wait for the prices to sustain above $0.050 before taking a bullish entry. MACD indicator: The fast and slow lines showcase a bullish reversal teasing a potential reversal. Hence, traders can find the indicator displaying a buy signal rise of bullish histograms with the new crossover. Bollinger Bands: The price jumps from the lower band, but the upper band takes a harsh toll resulting in a converging phase. RSI indicator: The daily-RSI slope surpasses the oversold area and overtakes the 14-day SMA line. Hence, the indicator displays a gradual rise...