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SNX

SNXSynthetix’s SNX token rose over 14% in the past 24 hours as developers said the protocol’s decentralized autonomous organization (DAO) had renewed a deal with liquidity provider Jump Crypto. DAOs are entities that have no central leadership, and are owned and governed by their members. Their decisions are carried out by software rather than by human managers. “Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement Synthetix’s mission to become the liquidity backbone for on-chain derivatives,” developers said in a tweet on Thursday night. The Chicago-based trading firm is expected to work closely with the Synthetix network to provide liquidity across listed assets and product feedback. Jump Crypto provides liquidity services and investments, and it participates in project governance. Synthetix didn't immediately respond to a request for comment. SNX rose to as much as $3.37 during Asian trading hours before profit-taking caused the price to decline to $3.25 at press time. The tokens have gained over 19% in the past week, but only 4% compared with the past month after a market-wide decline pushed prices to monthly lows of $2.13 in early July. However, the fundamentals remain strong. Since March, Synthetix has recorded trading volumes of over $2.8 billion, mainly from its atomic swaps and perpetual swaps products. Atomic swaps refer to an exchange of cryptocurrencies from separate blockchains. These use Uniswap and Chainlink live prices to ensure traders' accurate execution. Popular products on Synthetix include ether (ETH), bitcoin (BTC) and chainlink (LINK) token derivatives traded against Synthetix USD (SUSD), a dollar-pegged stablecoin. The pairs have seen over $40 million in trading volume in the past 24 hours, Nomics data shows. Market Cap $355,347,258 On the technical side: If we consider the weekly TF. We have a weekly timeframe built on big timeframes. You can work from the border of the lower channel and gain position during the test.
Long
by MaxsimusTrade
18
SNXUSDT at Support - Seeing confluence to go longSynthetix has been ranging between the current support of $2.95 and $3.60 I'm seeing a few points of confluence at support and see on the TPO and 30minute imbalance chart that there is a possibility of short traders being trapped at the low if price moves up sharply Confluence: 1. Fibonacci golden pocket area 2. Value area low of the fixed range 3. Possible Trapped short traders 4. Failed aution on a TPO (Time Price Opportunity) chart 5. Bullish divergence on the 15m (Vumanchu cipher b) Not Financial advice. DYOR. Papertrade before using real money. If you like this idea, please comment, give a thumbs up and follow for more ideas like these. Safe trading guys! Shawn
Long
by zartraderguy
2
Synthetix Long-Term (868% Potential Profits)We have an interesting one here with Synthetix (SNXUSDT) and we start right away with the potential profits... Looking at the current price vs the All-Time High, we see a massive 868% potential for growth... If we zoom in and look closer, we can notice the highest volume ever for this pair, SNXUSDT, signaling that the bottom is likely in and a trend reversal is due. I will not show the chart here but you can zoom by hitting the "+" sign on the chart to see what I mean. (Focus on the volume indicator) After activating the June 2020 support (2 years), Synthetix is preparing for bullish growth. Namaste.
Long
by MasterAnanda
15
SNXUSD May Have A Completed Complex CorrectionHello Crypto traders, today we will talk about cryptocurrencies, specifically SNX Token in which we see pretty nice bullish development from Elliott wave perspective. Cryptos in general are actually trading at very deep, but important and interesting support zone, from where we can expect a bullish turn. What we actually see on SNXUSD is an impulsive five-wave rally in 2020 till 2021 and complex W-X-Y corrective decline from 2021 highs into first half of 2022, which suggests a bullish continuation in the future. Well, from technical point of view, SNX retraced perfectly back to the former wave (4) support area, from where we can already see sharp rebound that can be signal for a completed correction and bullish reversal. However, keep in mind that real bullish confirmation is only above 8.15 region, so in case if we get an impulsive five-wave recovery up there, then we can easily expect a bullish resumption back to all-time highs. Happy trading! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SLong
by ew-forecast
9
📊 SNX moved 70% up ! Will it fall back down?Hello, dear TradingView members. This idea is an SNX analysis. SNX moved 70% up after their tweet. And the exciting fact is that the market is still not overbought. On a daily basis, the market isn't strong enough. Still, if we shorten the timeframe, we can see a bit of potential for moving higher. Two scenarios are possible for this chart: Scenario one: The price will push straight up or use support to break the resistance to the higher resistance levels Scenario two: The price will stay below the resistance area, and it'll lose power to reach higher levels in the next couple of days. The Speedometer indicator shows Buy volumes on the market for SNX on a 1D interval. Now have in mind: ANY news about this coin can cause a big pump or dump at this moment! Let me know if you guys have any questions; I will be more than happy to help. Good luck, and thank you.
by ShawnMCR
20
SNX/USDT: Bullish reversal on going?---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)------- SNX/USDT: Bullish reversal on going? Context - The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets SNX suffered about negative global market situation - SNX is expected to try to exit from the bearish channel or at least testing the upper part at 5,55 Market configuration - Graphical Elements : Graphical Resistance = 5,55 & 29 Graphical Support = 1,55 & 0,99 - Mathematical Indicators: EMA ( Exp Moving averages) are being reintegrated = bullish RSI indicator (below) is reintegrating 50% = Bullish - Elliot & Harmonic Wave (Fibonacci): Fibonacci Target (C) B is set at = 1,55 Fibonacci resistance of the wave in progress = 5,55 Fibonacci support of the wave (C) B(max extension) = 0,99 Fibonacci Bullish Target = 14,20 Conclusion Preferred case => Regarding the mid-term element,SNX is expecting to do a bullish reversal from the area we are now. we are bullish above 1,55 towwards 5,55 the upper part of the bearish channel and we expected then a bullish exit towards 14,20 Alternative cases => Breaking 1,55 a significant drop will open the door towards 0,99
Long
by JeanJean1983