Student Coin (STC) Price Analysis: Intraday Charts Suggests A Bear-Trap Signal, Is A Short Squeeze on Cards?
Student coin is the first of its kind crypto platform that allows everyone to easily design, create, and manage personal, start-up, NFT, and DeFi tokens. The STC community currently connects students from 500 universities. In other words, individuals and organizations can easily create, manage, and develop their own tokens on the Student Coin platform in a similar way as signing up for a social media profile.
Concept of Student Coin (STC)
The project was founded by Wojciech, who is also Student Coin’s CEO from Kozminski University. Other notable members on the team include the Chairman of the Advisory board who’s from Stanford University and Kozminski University in the person of Andrew. You can find more details about the Student Coin team at https://studentcoin.org and on social media.
Students can obtain a decentralized student loan and pay their tuition at a promising university by creating their tokens.
At the STC exchange, STC holders can fund and trade different personal tokens created with student Coins to receive cyclical payments. So far, the STC project has met its 2021 Q2 milestone of being listed on major crypto exchanges, with the coin listed on the Kucoin crypto exchange.
Other milestones for Q3 and Q4 2021 which include the launching of the STC exchange, STC Terminal, STC App, and listing of the first personal, start-up, organizational and DeFi tokens at STC Exchange are mostly completed.
Now that you know what this great project is all about, and the milestones attained, let’s analyze the price chart of the STC coin, pairing it against Bitcoin BTC and later against the USDT.
STC Price Analysis: STCBTC 4 Hr Chart
The student Coin STC vs. Bitcoin BTC currently signals a bullish harmonic pattern following an earlier price surge of about 45% from the 21 October 08:00 low.
A bearish closing candlestick below the 21 October 08:00 low would invalidate the bullish harmonic pattern, and transition the STCBTC chart structure to a descending triangle pattern.
Also, be mindful of a bear squeeze formation below the 0.0000000841 support as such patterns often form after a collapse of significant support.
STC Price Analysis: STCUSDT 4 Hr Chart
Paired against the USDT, the Student Coin STCUSDT intraday price chart already shows a descending triangle chart pattern and already leaves clues of a price collapse to the down.
Similar to the STCBTC price chart, we lookout for a bearish squeeze chart structure on the STCUSDT chart upon a breakdown of the 0.00555 support level.Source