<p>Stacks 在更广泛的加密市场显示出复苏迹象时，价格上涨超过 20%，接近 $0.30 区域，重新引起关注。</p>
<p>其代币 STX 大幅上涨，重新夺回 $0.29–$0.30 区域，此前在有限的方向上交易了数周。</p>
<p>买家在 $0.25 附近积极入场，触发了迅速反弹，这一表现与近期的价格行为形成鲜明对比。</p>
<p>此次上涨伴随着扩大的蜡烛图，而非缓慢的磨蹭走势，反映出买入的紧迫性。</p>
<p>然而，当价格接近 $0.30 区域时，反弹放缓，这一水平之前限制了上涨尝试。这一反应突显了持续的供应压力。</p>
<p>虽然买家控制了初始的推动力，但卖家在更高的水平上迅速反应。因此，Stacks [STX] 现在交易于短期决策区域附近。</p>
<h2><strong>杯柄结构开始成型</strong></h2>
<p>在日线图上，STX 在更广泛的抛售后显示出复苏结构的形成。</p>
<p>价格从 $0.25 干净利落地反弹，形成了正在发展的杯柄模式的杯部分。反弹反映了稳定的买家重新入场，而非恐慌驱动的尖峰。</p>
<p>在初始激增后，STX 回落至 $0.27–$0.28 区域。</p>
<p>这一浅层回撤形成了把手，保持在之前低点之上，显示出控制的分配。</p>
<p>值得注意的是，抛物线 SAR 在反弹期间翻转至价格下方，强化了短期方向性支撑。尽管如此，随着价格的整合，SAR 收紧，表明动能面临短期考验。</p>
<p>如果价格突破 $0.32，将增强该模式，而拒绝可能使把手面临更深的回撤。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/STXUSDT_2026-02-03_09-15-40.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/STXUSDT_2026-02-03_09-15-40.png"/></p>
<p>来源：TradingView</p>
<h2><strong>STX 现货交易量激增反映市场紧迫性</strong></h2>
<p>现货交易活动急剧扩大，24 小时交易量在反弹期间激增超过 260%。</p>
<p>交易量气泡图转入 “升温” 区域，确认了各交易所的积极参与。随着价格加速，交易者迅速入场，放大了短期波动性。</p>
<p>与之前的走势不同，交易量在上涨过程中保持高位，而不是在首次推动后减弱。这一行为表明了紧迫性，而非耐心。</p>
<p>高周转率通常伴随着动量驱动的交易，而非故意的积累。因此，这一激增突显了强烈的兴趣，但也引发了对可持续性的质疑。</p>
<p>为了让 Stacks 代币保持涨幅，交易量必须从反应性尖峰转变为在支撑位附近的稳定参与。否则，较高的交易量可能反映出短期的定位，迅速回撤。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Stacks-Spot-Volume-Bubble-Map-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Stacks-Spot-Volume-Bubble-Map-scaled.png"/></p>
<p>来源：CryptoQuant</p>
<h2><strong>卖方压力在价格强势下持续存在</strong></h2>
<p>尽管反弹，现货买入 CVD 仍明显以卖方为主。即使价格上涨，卖家仍在不断打压买单，表明是获利了结而非新一轮的积累。</p>
<p>这一分歧很重要，因为它表明并非所有参与者都对价格行为所暗示的看涨信心持有一致看法。</p>
<p>买家在没有剧烈拒绝的情况下吸收了卖压，这反映出韧性。然而，持续的卖方主导往往会随着时间的推移限制上涨动能。</p>
<p>如果买入行为未能转向买方控制，价格可能难以突破附近的阻力。因此，STX 现在处于一个脆弱的平衡点。</p>
<p>买家必须证明他们能够持续压倒卖家。没有这种转变，反弹风险将失去动能，并回归区间震荡行为。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Stacks-Spot-Taker-CVDCumulative-Volume-Delta-90-day-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Stacks-Spot-Taker-CVDCumulative-Volume-Delta-90-day-scaled.png"/></p>
<p>来源：CryptoQuant</p>
<h2><strong>STX 上升的未平仓合约增加了杠杆驱动的风险</strong></h2>
<p>未平仓合约（OI）在 STX 反弹期间激增超过 45%，达到约 2470 万美元。交易者在价格上涨的同时增加了杠杆敞口，表明投机兴趣日益增长。</p>
<p>虽然杠杆可以推动持续上涨，但也增加了脆弱性。</p>
<p>快速的 OI 扩张使价格对任何方向的突然变动更加敏感。失败的突破可能触发多头平仓，加速下行压力。</p>
<p>相反，持续的强势可能迫使空头回补，延续涨幅。</p>
<p>截至发稿时，持仓似乎是方向性的而非防御性的。交易者倾向于顺势而为，而不是对冲风险。</p>
<p>因此，STX 现在面临较高的波动风险。价格在关键支撑区上方的稳定性对于防止杠杆转变为不稳定的力量至关重要。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Screenshot-2026-02-03-103821.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Screenshot-2026-02-03-103821.png"/></p>
<p>来源：CoinGlass</p>
<p>Stacks 显示出早期的复苏信号，价格随着更广泛市场的强势反弹。</p>
<p>参与度增加，结构改善，但卖压和杠杆扩张对可持续性构成挑战。</p>
<p>买家必须捍卫 $0.27–$0.28 区域，并翻转现货流以维持上涨势头。</p>
<p>如果没有这种转变，获利了结可能会加深至整合或回撤，然后再继续上涨。</p>
<hr/>
<h2>最终思考</h2>
<ul>
<li><em>STX 从 $0.25 反弹，现货交易量上涨 260%，未平仓合约上升 45%，显示出积极参与。</em></li>
<li><em>Stacks 的卖方主导现货买入 CVD 和接近 $0.30 的高杠杆可能限制上涨，除非买家重新获得流动控制。</em></li>
</ul>

<p>Stacks (STX) 价格上涨超过 20%，达到 0.30 美元区域，这一涨幅受到更广泛的加密市场复苏的推动。此次反弹伴随着显著的交易量，增加了 260%，显示出市场参与的活跃。然而，卖方压力依然存在，卖家主导了买盘，这表明市场更多的是获利了结而非新一轮的积累。未平仓合约增加了 45%，显示出投机兴趣的上升，但也加大了波动风险。为了维持涨幅，买家必须捍卫 0.27–0.28 美元区间，并将市场动态转向有利于他们的方向，否则将面临回调的风险</p>

<p>Stacks rallied more than 20% toward the $0.30 region as the broader crypto market showed signs of recovery, drawing renewed attention.</p>
<div class="lb-trans"><p>Stacks 在更广泛的加密市场显示出复苏迹象时，价格上涨超过 20%，接近 $0.30 区域，重新引起关注。</p>
</div><p>Its token, STX, pushed sharply higher, reclaiming the $0.29–$0.30 region after spending weeks trading with limited direction.</p>
<div class="lb-trans"><p>其代币 STX 大幅上涨，重新夺回 $0.29–$0.30 区域，此前在有限的方向上交易了数周。</p>
</div><p>Buyers stepped in aggressively near the $0.25 area, triggering a swift rebound that stood out against recent muted price behavior.</p>
<div class="lb-trans"><p>买家在 $0.25 附近积极入场，触发了迅速反弹，这一表现与近期的价格行为形成鲜明对比。</p>
</div><p>The advance unfolded with expanding candles rather than slow grinding moves, reflecting urgency behind the buying.</p>
<div class="lb-trans"><p>此次上涨伴随着扩大的蜡烛图，而非缓慢的磨蹭走势，反映出买入的紧迫性。</p>
</div><p>However, the rally slowed as the price approached the $0.30 zone, a level that previously capped upside attempts. That reaction highlights lingering supply overhead.</p>
<div class="lb-trans"><p>然而，当价格接近 $0.30 区域时，反弹放缓，这一水平之前限制了上涨尝试。这一反应突显了持续的供应压力。</p>
</div><p>While buyers controlled the initial impulse, sellers responded quickly at higher levels. As a result, Stacks [STX] now trades near a short-term decision area.</p>
<div class="lb-trans"><p>虽然买家控制了初始的推动力，但卖家在更高的水平上迅速反应。因此，Stacks [STX] 现在交易于短期决策区域附近。</p>
</div><h2><strong>Cup-and-handle structure begins to take shape</strong></h2>
<div class="lb-trans"><h2><strong>杯柄结构开始成型</strong></h2>
</div><p>On the daily chart, STX showed a recovery structure forming after the broader selloff.</p>
<div class="lb-trans"><p>在日线图上，STX 在更广泛的抛售后显示出复苏结构的形成。</p>
</div><p>Price rebounded cleanly from $0.25, creating the cup portion of a developing cup-and-handle pattern. The rebound reflected steady buyer re-entry rather than panic-driven spikes.</p>
<div class="lb-trans"><p>价格从 $0.25 干净利落地反弹，形成了正在发展的杯柄模式的杯部分。反弹反映了稳定的买家重新入场，而非恐慌驱动的尖峰。</p>
</div><p>After the initial surge, STX pulled back toward the $0.27–$0.28 zone.</p>
<div class="lb-trans"><p>在初始激增后，STX 回落至 $0.27–$0.28 区域。</p>
</div><p>That shallow retracement formed the handle, holding well above prior lows and signaling controlled distribution.</p>
<div class="lb-trans"><p>这一浅层回撤形成了把手，保持在之前低点之上，显示出控制的分配。</p>
</div><p>Notably, the Parabolic SAR flipped below price during the rebound, reinforcing short-term directional support. Even so, SAR tightened as price consolidated, indicating momentum faced a near-term test.</p>
<div class="lb-trans"><p>值得注意的是，抛物线 SAR 在反弹期间翻转至价格下方，强化了短期方向性支撑。尽管如此，随着价格的整合，SAR 收紧，表明动能面临短期考验。</p>
</div><p>A decisive break above $0.32 would strengthen the pattern, while rejection could expose the handle to deeper retracement.</p>
<div class="lb-trans"><p>如果价格突破 $0.32，将增强该模式，而拒绝可能使把手面临更深的回撤。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/STXUSDT_2026-02-03_09-15-40.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/STXUSDT_2026-02-03_09-15-40.png"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><h2><strong>STX Spot volume surge reflects urgency across markets</strong></h2>
<div class="lb-trans"><h2><strong>STX 现货交易量激增反映市场紧迫性</strong></h2>
</div><p>Spot trading activity expanded sharply as 24-hour volume surged more than 260% during the rally.</p>
<div class="lb-trans"><p>现货交易活动急剧扩大，24 小时交易量在反弹期间激增超过 260%。</p>
</div><p>The Volume Bubble Map shifted into “heating” territory, confirming aggressive participation across exchanges. Traders entered positions rapidly as the price accelerated, amplifying short-term volatility.</p>
<div class="lb-trans"><p>交易量气泡图转入 “升温” 区域，确认了各交易所的积极参与。随着价格加速，交易者迅速入场，放大了短期波动性。</p>
</div><p>Unlike prior moves, volume remained elevated throughout the advance rather than fading after the first push. That behavior signals urgency rather than patience.</p>
<div class="lb-trans"><p>与之前的走势不同，交易量在上涨过程中保持高位，而不是在首次推动后减弱。这一行为表明了紧迫性，而非耐心。</p>
</div><p>High turnover often accompanies momentum-driven trades rather than deliberate accumulation. Therefore, the surge highlights strong interest but also raises questions about sustainability.</p>
<div class="lb-trans"><p>高周转率通常伴随着动量驱动的交易，而非故意的积累。因此，这一激增突显了强烈的兴趣，但也引发了对可持续性的质疑。</p>
</div><p>For the Stacks token to maintain gains, volume must transition from reactive spikes into steadier participation near support levels. Otherwise, elevated volume may reflect short-term positioning that unwinds just as quickly.</p>
<div class="lb-trans"><p>为了让 Stacks 代币保持涨幅，交易量必须从反应性尖峰转变为在支撑位附近的稳定参与。否则，较高的交易量可能反映出短期的定位，迅速回撤。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Stacks-Spot-Volume-Bubble-Map-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/Stacks-Spot-Volume-Bubble-Map-scaled.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><h2><strong>Sell-side pressure persists beneath price strength</strong></h2>
<div class="lb-trans"><h2><strong>卖方压力在价格强势下持续存在</strong></h2>
</div><p>Despite the rally, Spot Taker CVD remained clearly sell-dominant. Sellers continued hitting bids even as the price pushed higher, pointing to profit-taking rather than fresh accumulation.</p>
<div class="lb-trans"><p>尽管反弹，现货买入 CVD 仍明显以卖方为主。即使价格上涨，卖家仍在不断打压买单，表明是获利了结而非新一轮的积累。</p>
</div><p>This divergence matters because it shows that not all participants share the bullish conviction implied by price action alone.</p>
<div class="lb-trans"><p>这一分歧很重要，因为它表明并非所有参与者都对价格行为所暗示的看涨信心持有一致看法。</p>
</div><p>Buyers absorbed that sell pressure without sharp rejection, which reflects resilience. However, persistent sell dominance often caps upside momentum over time.</p>
<div class="lb-trans"><p>买家在没有剧烈拒绝的情况下吸收了卖压，这反映出韧性。然而，持续的卖方主导往往会随着时间的推移限制上涨动能。</p>
</div><p>If taker behavior fails to shift toward buyer control, price may struggle to extend beyond nearby resistance. Therefore, STX now sits at a fragile balance point.</p>
<div class="lb-trans"><p>如果买入行为未能转向买方控制，价格可能难以突破附近的阻力。因此，STX 现在处于一个脆弱的平衡点。</p>
</div><p>Buyers must prove they can overpower sellers consistently. Without that shift, the rally risks losing momentum and rotating back into range-bound behavior.</p>
<div class="lb-trans"><p>买家必须证明他们能够持续压倒卖家。没有这种转变，反弹风险将失去动能，并回归区间震荡行为。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Stacks-Spot-Taker-CVDCumulative-Volume-Delta-90-day-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/Stacks-Spot-Taker-CVDCumulative-Volume-Delta-90-day-scaled.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><h2><strong>STX rising Open Interest adds leverage-driven risk</strong></h2>
<div class="lb-trans"><h2><strong>STX 上升的未平仓合约增加了杠杆驱动的风险</strong></h2>
</div><p>Open Interest (OI) jumped more than 45%, reaching roughly $24.7 million as STX rallied. Traders added leveraged exposure alongside rising prices, signaling growing speculative interest.</p>
<div class="lb-trans"><p>未平仓合约（OI）在 STX 反弹期间激增超过 45%，达到约 2470 万美元。交易者在价格上涨的同时增加了杠杆敞口，表明投机兴趣日益增长。</p>
</div><p>While leverage can fuel continuation, it also increases vulnerability.</p>
<div class="lb-trans"><p>虽然杠杆可以推动持续上涨，但也增加了脆弱性。</p>
</div><p>Rapid OI expansion makes the price more sensitive to sudden moves in either direction. A failed breakout could trigger long liquidations, accelerating downside pressure.</p>
<div class="lb-trans"><p>快速的 OI 扩张使价格对任何方向的突然变动更加敏感。失败的突破可能触发多头平仓，加速下行压力。</p>
</div><p>Conversely, sustained strength could force shorts to cover, extending gains.</p>
<div class="lb-trans"><p>相反，持续的强势可能迫使空头回补，延续涨幅。</p>
</div><p>At press time, positioning appeared directional rather than defensive. Traders leaned into the move instead of hedging risk.</p>
<div class="lb-trans"><p>截至发稿时，持仓似乎是方向性的而非防御性的。交易者倾向于顺势而为，而不是对冲风险。</p>
</div><p>Therefore, STX now carries elevated volatility risk. Price stability above key support zones remains critical to prevent leverage from turning into a destabilizing force.</p>
<div class="lb-trans"><p>因此，STX 现在面临较高的波动风险。价格在关键支撑区上方的稳定性对于防止杠杆转变为不稳定的力量至关重要。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Screenshot-2026-02-03-103821.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/Screenshot-2026-02-03-103821.png"/></p>
<p>Source: CoinGlass</p>
<div class="lb-trans"><p>来源：CoinGlass</p>
</div><p>Stacks showed early recovery signals as price rebounded alongside broader market strength.</p>
<div class="lb-trans"><p>Stacks 显示出早期的复苏信号，价格随着更广泛市场的强势反弹。</p>
</div><p>Participation increased and structure improved, but sell pressure and leverage expansion challenged sustainability.</p>
<div class="lb-trans"><p>参与度增加，结构改善，但卖压和杠杆扩张对可持续性构成挑战。</p>
</div><p>Buyers must defend the $0.27–$0.28 zone and flip spot flows to maintain upside traction.</p>
<div class="lb-trans"><p>买家必须捍卫 $0.27–$0.28 区域，并翻转现货流以维持上涨势头。</p>
</div><p>Without that shift, profit-taking could deepen into consolidation or a pullback before continuation.</p>
<div class="lb-trans"><p>如果没有这种转变，获利了结可能会加深至整合或回撤，然后再继续上涨。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final Thoughts</h2>
<div class="lb-trans"><h2>最终思考</h2>
</div><ul>
<li><em>STX bounced from $0.25, with Spot Volume up 260% and Open Interest rising 45%, signaling aggressive participation.</em></li>
<li><em>Stacks’ Sell-dominant Spot Taker CVD and elevated leverage near $0.30 may cap upside unless buyers regain flow control.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>STX 从 $0.25 反弹，现货交易量上涨 260%，未平仓合约上升 45%，显示出积极参与。</em></li>
<li><em>Stacks 的卖方主导现货买入 CVD 和接近 $0.30 的高杠杆可能限制上涨，除非买家重新获得流动控制。</em></li>
</ul>
</div>

Stacks rallies 20%, draws heavy participation – Can STX convert it into strength?

- Stacks [STX] 价格因更广泛市场复苏上涨超过 20%，进入 $0.30 区域。  
- Spot 交易量增长超 260%，显示出市场参与的紧迫性。  
- 卖压依然主导，多头需维持 $0.27–$0.28 区域，以稳定上行趋势。

Amb Crypto

Riot Platforms

Grayscale Ethereum Staking ETF

Bitwise Ethereum ETF

CoinShares Bitcoin ETF

Proshares Ether Strategy ETF

Grayscale Ethereum Mini Staking ETF

Valkyrie Bitcoin and Ether Strategy ETF

Hut 8 Mining

Bitdeer Tech

BTCS

WisdomTree Bitcoin Fund

Bitwise Bitcoin ETF

VanEck Ethereum ETF

ARK 21Shares Bitcoin ETF

Franklin Ethereum ETF

Fidelity Wise Origin Bitcoin Fund - ETF

Invesco Galaxy Bitcoin ETF

VanEck Bitcoin ETF

Coinbase

Bitfarms Canada

IShares Ethereum Trust ETF

Franklin Bitcoin ETF

ProShares Bitcoin Strategy ETF

21Shares Ethereum ETF

Marathon Digital

CleanSpark

Invesco Galaxy Ethereum ETF

Fidelity Ethereum Fund

iShares Bitcoin Trust ETF

Stacks 上涨 20%，吸引了大量参与——STX 能否将这种势头转化为更大的实力？