Stacks (STX) pared a considerable portion of the gains it made on March 10 as the euphoria surrounding its $165 million pledge to support Bitcoin (BTC) projects showed signs of fading.
STX's price dropped by over 30% to reach a level as low as $1.33 on March 11 when measured from its week-to-date high of $1.94. The selloff, in part, appeared technical as the $1.94-top fell in the same range that served as solid support between October 2021 and January 2022, only to flip later to become a resistance area.