Stacks price surges 6% as Open Interest rises to $55M 

At press time, Stacks price was trading at $0.4008 with an intraday gain of 6.4%. Open Interest in STX has increased by roughly 6% in a day to $55M, which shows a modest rise in traders’ interest. The funding rate briefly slipped negative but has turned positive to 0.0085%, which shows that long positions are getting dominant in the market. Stacks price was trading near the previous swing high of $0.400 on a daily timeframe. If STX price triggers a breakout from this level and gets a follow-through by OI and volume, a bullish rally can be seen. If it fails to exceed this level, profit booking can be observed.