💎 SNX has certainly drawn our attention with its breakout from the Descending channel, underscored by significant volume and an impressive upward movement. Presently, SNX finds itself at a pivotal juncture, necessitating a breach of the resistance to maintain its bullish momentum.
💎 Facing potential rejection at this resistance zone, and considering SNX is in a retesting phase on the resistance trendline of the Descending Channel, specifically within the demand range of $2.11 - $2.05, there's a possibility for a slight pullback to solidify the recent expansive gains. Yet, if it triumphs over the immediate resistance, SNX is poised for a smooth climb towards further supply levels and potentially the bearish OB zone.
💎 Amidst this retesting phase, it's crucial for SNX to demonstrate resilience, either by rebounding or showing a rejection pattern, to continue its endeavor to breach the resistance barrier and establish a stronghold above.
💎 Failure to do so could spell trouble, leading SNX to a vulnerable position at the lower demand level, and potentially triggering a further descent towards the critical support area.
💎 Facing potential rejection at this resistance zone, and considering SNX is in a retesting phase on the resistance trendline of the Descending Channel, specifically within the demand range of $2.11 - $2.05, there's a possibility for a slight pullback to solidify the recent expansive gains. Yet, if it triumphs over the immediate resistance, SNX is poised for a smooth climb towards further supply levels and potentially the bearish OB zone.
💎 Amidst this retesting phase, it's crucial for SNX to demonstrate resilience, either by rebounding or showing a rejection pattern, to continue its endeavor to breach the resistance barrier and establish a stronghold above.
💎 Failure to do so could spell trouble, leading SNX to a vulnerable position at the lower demand level, and potentially triggering a further descent towards the critical support area.
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Just as predicted, #SNX's up a smooth 12.65%!
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Do you Want to start trading like a PRO?
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🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.