Bullish for SNX
One of my favourite DEFI project looks bullish after breaking the resistance at $13. It might retest the resistance again after reaching the 0.5 fib level, which is approximately at $15.5.
But looking at weekly chart, the MACD crosses below, which is but not always bullish. But I do believe is MACD crosses in weekly chart, it signals a bullish move in the price.
I think the price will reach $18. But breaking the red resistant line on the chart, which coincide with the 0.782 fib level, might be slightly more difficult. But crossing that, it will send the price to $25 or even breaking the ATH.
But all depends on BTC if it manages to break the 0.618 fib level at 50K....Hopefully BTC doesn't drag the market down again
But looking at weekly chart, the MACD crosses below, which is but not always bullish. But I do believe is MACD crosses in weekly chart, it signals a bullish move in the price.
I think the price will reach $18. But breaking the red resistant line on the chart, which coincide with the 0.782 fib level, might be slightly more difficult. But crossing that, it will send the price to $25 or even breaking the ATH.
But all depends on BTC if it manages to break the 0.618 fib level at 50K....Hopefully BTC doesn't drag the market down again
Note
Also forget to mention that the volume increases and the daily chart did a double bottom...
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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.