Potential for another decline towards the lower boundary
STX is confined within a large descending channel, showing a tendency towards downward movements. After consolidating near the lower boundary, it has recently reached the upper boundary.
6/9/20241 min read
![STX price chart illustrating the descending channel with recent price action moving from the lower b](https://assets.zyrosite.com/cdn-cgi/image/format=auto,w=1018,h=607,fit=crop/mP4DRvxXEycnaE1Q/6-A0xN7gKX5WSX5EDz.png)
![STX price chart illustrating the descending channel with recent price action moving from the lower b](https://assets.zyrosite.com/cdn-cgi/image/format=auto,w=328,h=196,fit=crop/mP4DRvxXEycnaE1Q/6-A0xN7gKX5WSX5EDz.png)
STX is currently in a ranging trend, though it exhibits a tendency towards more downward movements. The price action is confined within a large descending channel. Recently, STX reached the upper boundary of this channel after an extended period of consolidation near the lower boundary.