SNXUSDT wants more liquidity?
SNXUSDT is exhibiting a distinctive pattern known as an ascending channel, which is formed by a series of higher lows and higher highs. This suggests a bullish trend in the market.
However, it's important to note that the price is currently approaching a significant daily resistance level. If the price fails to break above this resistance and instead drops below the $1.8 area, it could indicate a shift in market sentiment towards the bearish side. This would potentially trigger a new downward movement, or bearish impulse, in the price.
According to Plancton's Rules this scenario would suggest a potential opportunity for shorting SNXUSDT. Traders who adhere to these rules might consider opening short positions, speculating that the price could continue its downward movement until reaching the $1.6 area.
However, it's important to note that the price is currently approaching a significant daily resistance level. If the price fails to break above this resistance and instead drops below the $1.8 area, it could indicate a shift in market sentiment towards the bearish side. This would potentially trigger a new downward movement, or bearish impulse, in the price.
According to Plancton's Rules this scenario would suggest a potential opportunity for shorting SNXUSDT. Traders who adhere to these rules might consider opening short positions, speculating that the price could continue its downward movement until reaching the $1.6 area.
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