$STO RANGE-BOUND BUT GATHERING STEAM: WHICH WAY NEXT?
$STO is currently trading at $0.1187, down -1.90% on the day. After an extended downtrend, price action is now consolidating sideways between tight support and resistance levels. Buyers are slowly returning, but a confirmed breakout is still needed for bullish momentum to build.
Key Technical Zones:
• Immediate Resistance: $0.1190 – $0.1200
Repeated rejection near this zone signals a key barrier. A breakout above this range could open doors for a reversal rally.
• Support Zone: $0.1184 – $0.1177
A breakdown below this zone could lead to fresh lows and renewed selling pressure.
• 24h Range:
• High: $0.1237
• Low: $0.1177
Trade Setup:
Bullish Scenario:
• Entry: Above $0.1190 with strong volume
• TP1: $0.1205
• TP2: $0.1230
• TP3: $0.1250
Bearish Scenario:
• Entry: Below $0.1177
• TP1: $0.1160
• TP2: $0.1140
Stop-Loss Guidance:
• Longs: Below $0.1175
• Shorts: Above $0.1195
STO is coiling within a tight zone. If buyers can push above $0.1190 with conviction, short-term gains could follow. On the flip side, losing the $0.1177 support could open the door to a deeper slide.