# FxWirePro- STXUSD (Chart of the day) By Sheena Jordan Canonical URL: https://www.tokenpost.com/news/investing/11320 Published: 2024-02-27T11:42:21.000Z Updated: 2024-02-27T11:42:21.000Z Section: Investing > Stacks is a Bitcoin layer for smart contracts. The Stacks layer enables DeFi, NFTs, and other decentralized apps built on Bitcoin. Stacks is a Bitcoin layer for smart contracts. The Stacks layer enables DeFi, NFTs, and other decentralized apps built on Bitcoin. Consensus mechanism- Proof of Transfer STXUSD performed well in the past two days Any daily close above $3.02 confirms further bullishness. STXUSD gained more than 30% in the past four days as BTC hit a 25 month high. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $3.18 and is currently trading around $3.15. The bullish invalidation can happen if the pair closes below $1.25. On the lower side, the near-term support is $2.77. Any break below targets $2.35/$1.97/$1.69. The immediate resistance stands at around $3.20. Any breach above confirms bullish continuation. A jump to $3.50/$4 is possible. A surge past $4 will take it to $5/$5.80. It is good to buy on dips around $2.75-77 with SL around $2.35 for TP of $4. [TokenPost]() | info@tokenpost.com ## Links in this article - [TokenPost](https://www.tokenpost.com)