STABLE Bulls Eye $0.04 Target as Momentum Shifts Bullish

STABLE has seen a significant surge in price over the past day, rising by 9.2% to $0.036 as of this writing.

This comes after the altcoin successfully defended its support level at $0.033 and jumped to a weekly high of $0.037.

The increase in momentum has been confirmed by various indicators, including the Relative Strength Index (RSI) and the ADX DI indicators, which have both shown bullish crossovers.

According to TradingView, the RSI touched 54, indicating a shift in market sentiment towards buyers being in control. The +DI on the ADX DI indicators also made a bullish crossover, rising to 17 while the negative dropped to 16.

The surge in momentum has been driven by increasing demand for derivatives, with STABLE's Open Interest rising 8.3% to $29.3 million and Derivatives Volume jumping 40% to $16 million, according to Coinglass data.