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SNX

SNX ANALYSIS (4H TF)After hitting the red box above, which is an order block, it was rejected towards the bottom. I have marked another red box below, which is the new place to open sell/short positions. From the lower red box, we can move towards the targets to complete the waves. I also specified the invalidation level For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
3
SNX/USDT Breakout the Descending Channel !!! Bullish Momentum ?? Yello Paradisers, SNX Analysis: Bullish Breakout with Strong Volume 💎 SNX has successfully broken out of its descending channel pattern, backed by significant trading volume. 💎 Prior to this breakout, SNX tested a key support area twice. The first test led to a bounce and subsequent rejection at the supply level, followed by a gradual decline back to the key support. 💎 On the second test, SNX bounced strongly, leading to the breakout of the descending channel. This sets the stage for a bullish continuation for SNX. 💎 Entry Strategy: You have two options for entry. You can either enter now or wait for SNX to retest the near demand area around $2.05 following the breakout. SNX shows strong potential for further upward movement. 💎 Invalidation Scenario: This bullish outlook will be negated if SNX closes below the key support level.
Long
by MyCryptoParadise_Nathan
9
SNXUSD hit both the 1D MA50 and MA200. Bullish or bearish?Synthetix (SNXUSD) is testing today both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) following a 6 day rise after a -42.20% decline from the July 14 High. Such a decline was last seen on the May 12 low, where the price rebounded like now but failed to close above the Resistance of the previous Lower High and dropped more to touch the Higher Lows trend-line (bottom) of the 1-year Triangle pattern. As a result we are buying short-term but our target is limited to the 2.6500 Resistance. If it closes a 1D candle above it, we will extend buying to 3.1300 (Resistance 1). If the price closes a 1D candle below the 0.618 Fib (which didn't happen during the June rebound), then we will wait for a lower risk buy near the Higher Lows trend-line again (targets will remain the same). Note that, as with now, there has been a MACD Bullish Cross on both May's and June's price increases. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:SNXUSDLong
by TradingShot
Top Watch Alts💎 FLUX , HOP , SNX & WLDHi Traders, Investors and Speculators of Charts📈📉 I'm constantly on the lookout for projects with great potential. Microcaps often x10, x100 or even x1000 if you're lucky enough to catch them early AND take profits. Today I'll share some projects I'm watching. You'll notice they all currently have great entry points, and are ideal for accumulating. ⭐ FLUX : Flux is a blockchain-based platform that aims to provide decentralized computing services and blockchain-as-a-service solutions. It has its own operating system (FluxOS), wallet (Zelcore), and development program (FluxLabs). FluxOS is a custom-built Linux operating system that is designed to be specifically optimized for running Flux nodes. It is lightweight and efficient, making it ideal for running on a variety of hardware platforms Flux uses a native POW (proof-of-work) coin called FLUX to power its ecosystem. FLUX coin is mined via a proof-of-work (PoW) consensus mechanism and can be staked, bought, sold, and traded. Holding FLUX also enables you to run your own Flux Node on the network, meaning you can earn even more of the coin. Flux is a very promising platform with a lot of potential. It is still under development, but it has already made significant progress. I believe that Flux has the potential to become a major player in the decentralized computing space. ⭐ HOP : Hop is a multi-chain bridge that allows users to transfer assets between different Ethereum Layer 2 (L2) networks and Ethereum mainnet. It is a trustless bridge, which means that users do not need to trust any third party to keep their funds safe. Hop uses a novel approach to bridge liquidity between different networks, which allows for fast and cheap transfers. Hop works by issuing a cross-chain Hop token that can be quickly and economically moved between L2s or claimed on layer-1 for its underlying asset. Automated Market Makers (AMMs) swap between each Hop bridge token and its corresponding Canonical Token on each rollup in order to dynamically price liquidity and incentivize the rebalancing of liquidity across the network. Hop is a valuable tool for users who want to move their assets between different L2 networks or Ethereum mainnet. It is fast, cheap, and trustless, making it a great option for users who want to avoid the high fees and centralized nature of other bridges. ⭐ SNX : Synthetix is a decentralized finance (DeFi) protocol that allows users to mint synthetic assets, which are tokens that track the price of an underlying asset. The underlying assets can be anything from fiat currencies to cryptocurrencies to commodities. Synthetix is built on the Ethereum blockchain and uses the Synthetix Network Token (SNX) as its native token. To mint a synthetic asset, users must deposit SNX into a Synthetix smart contract. The amount of SNX deposited must be at least 750% of the value of the synthetic asset that is being minted. This is to ensure that there is always enough collateral to back the synthetic assets that are in circulation. Once a synthetic asset is minted, it can be traded on the Synthetix decentralized exchange (DEX). The DEX is a permissionless exchange, which means that anyone can trade synthetic assets without having to go through a centralized exchange. Synthetix is a powerful tool for traders who want to gain exposure to a wide variety of assets without having to actually own those assets. It is also a valuable tool for hedging against volatility in the cryptocurrency market. ⭐ WLD : Worldcoin is a cryptocurrency project that aims to distribute free tokens to everyone in the world. The project is led by a team of scientists and engineers who believe that Worldcoin can help to create a more equitable and inclusive financial system. Worldcoin uses a novel approach to distributing tokens called the Orb. The Orb is a handheld device that uses eye scans to verify that users are real people. Once a user's identity has been verified, they are airdropped a small amount of Worldcoin tokens. Worldcoin is a proof-of-stake cryptocurrency, which means that it is more energy-efficient than proof-of-work cryptocurrencies like Bitcoin. It has a total supply of 100 billion tokens and is currently in the process of conducting a pilot program in Kenya. Worldcoin is still in its early stages of development, but it has the potential to be a major player in the cryptocurrency space. The project has a strong team with a proven track record, and it has the backing of a number of high-profile investors. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
37
Synthetix Network token SNX price starts a difficult upward moveRecently, SNXUSDT price has finally managed to break out of a prolonged downtrend. We assume that the current local price consolidation outside of the downtrend is coming to an end. And the SNX price may have quite a bit of growth ahead. Take profit 1 - $3.55 (+25%) Take profit 2 - $3.85 (+35%) Take profit 3 - $4.40 (+55%) _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
Long
by P_S_trade
42
SNXUSD: Bullish but approaching a Resistance. Trade breakout or SNXUSD is haveing the strongest two week streak since July 25th 2022, whose High formed R2 (4.4450). The R/R in buying that deep into the bullish wave is not favorable as despite the R1 at 3.3900, the price has the 1W MA200 as its main Resistance, which has not allowed weekly candle closings above it for 11 months (since August 15th 2022). Consequently with the 1D time-frame highly overbought (RSI = 76.564, MACD = 0.230, ADX = 34.978), we will wait for a buy either after a pullback to the 1D MA50 or after a 1W candle closes over the 1W MA200. Either way, our long term target is the R2 (TP = 4.4450). Keep in mind that the bullish trend on the long term is favored as the 1W MACD completed a Bullish Cross last week, under the 0.00 level, which shows significant upside potential. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:SNXUSD
by InvestingScope
SNXUSDTGood time friends, we are at your service with another analysis, this time #snx ⚡️ with 150% growth probability We have provided you with the daily chart of this index; The pattern you see in the chart is called "Diagonal Reverse Header". This pattern is one of the strongest bullish patterns. The yellow line also shows the possible movement and temporary corrections of this index. You can see that the collar of this pattern is broken and it is a signal for buyers. Risk-taking people can enter the purchase now, and low-risk people can also wait for a pullback on the collar of this pattern. The loss limit of this transaction is 2.47 Maximum profit 8.1 Risk to return 8 ⚠️ Note that this transaction and analysis is intended for spot. Be successful and profitable
Long
by currenceland
SNXUSD Gave a major break out buy signalSynthetix / SNXUSD crossed today over not just the 4 month Channel Down but also the 1 year Falling Resistance (since the July 28th 2022 High) and the 1day MA200. That is the strongest break out buy signal we could get on the medium term as despite stopping at Resistance A, it is repeating the rise of January, which after getting the 1day RSI overbought, it formed a Channel Up and peaked near the 1.5 Fibonacci level. Buy now and target the new 1.5 Fibonacci at 3.70000. Follow us, like the idea and leave a comment below!!
CRYPTO:SNXUSDLong
by TheCryptagon
SNX Synthetix Triple BottomSNX (Synthetix) has recently formed a triple bottom pattern, indicating a potential bullish reversal in the near term. The triple bottom pattern is characterized by three successive lows at approximately the same level, followed by a potential breakout to the upside. This pattern often signifies a strong support level and can foreshadow a price rally. Considering the formation of the triple bottom pattern, SNX may be poised for a potential price target of $2.40. This target represents the potential upside that could be achieved if the pattern plays out as anticipated. Looking forward to read your opinion about it!
Long
by TopgOptions
SNX- Next to PUMP? Has been a great past few days for me with some insane calls, especially AAVE yesterday and already on SNX: They way i operate is this: I work on many charts, i choose the best one. At this time of time I like SNX chart a lot: close to support, has potential for much higher. NEWS: Synthetix founder wants to buyback and burn millions of SNX tokens QUICK TAKE Kain Warwick, the founder of Synthetix, has come up with twelve proposals to incentivize the next phase of the project. Among these included a “SNX split and buyback” proposal that involves a 3:1 split of SNX, followed by a buyback and burn. Kain Warwick, founder of decentralized derivatives trading protocol Synthetix, proposed 12 substantial governance proposals to propel the platform into its next phase. These initiatives strive to broaden Synthetix’s capabilities and stimulate increased participation from its community members, as outlined in Warwick’s “State of Synthetix” post. A significant proposition is the “SNX split and buyback” proposal in the post. Warwick suggested a 3:1 split of SNX, followed by a buyback and subsequent burn using the Treasury’s fee yield. “Should we proceed with a 3:1 split, we would have approximately 90 million additional tokens for buyback and burn, with a market price of $60 million,” Warwick explained. The founder further clarified that the funds required to burn these tokens would be sourced from the treasury fee yield. Introducing quarterly bonuses Another proposal, termed the “core contributor alignment,” seeks to incentivize project contributors by distributing Synthetix Network Tokens (SNX) as quarterly bonuses. Warwick believes this strategy could secure ongoing commitment to the protocol’s success from the platform’s contributors. Additionally, Warwick proposed the allocation of SNX for trading incentives. This aims to stimulate trading volume and foster increased market activity on the Synthetix platform. Beyond this, he suggested giving SNX to stakers to boost their involvement and commitment to preserving the platform’s stability. The Synthetix platform supports decentralized derivatives trading within its liquidity pools, which currently boast a total value locked (TVL) of over $420 million on Ethereum and the Optimism Layer 2 network. The purpose of presenting proposals, Warwick said, was to start a conversation and ensure the Synthetix community is kept in the loop about potential directions for the platform. The proposals will be put to a vote by the Treasury Council (TC), Synthetix’s four-member governance body, which is responsible for resource allocation for the protocol’s expansion and growth. Currently, these suggestions remain in the conceptual stage, needing votes to progress. “Nothing has been confirmed by a Treasury Council vote yet; however, many of these proposals have garnered support within the ,” Warwick commented. Link: www.theblock.co Looks like Synthetix is a good idea for me.. Targets: 2.45 2.8 3.7 Support: 2.154 1.968 One Love, The FXPROFESSOR PS. And let's hope market opening helps now
Long
by FX_Professor
8