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SNXUSDT

SNX (Synthetix) Is Going Parabolic Although the crypto market has been pulling back, SNX has been heading ever higher! The coin is already up by more than 100% in 2021, and this may be just the beginning! SNX Momentum According to Nicolas Darvas, the writer of the famous book "How I Made $2,000,000 in the Stock Market", the stocks that are the most resilient in bear markets, and that even try to push up, are usually due to experience strong growth when the bear market is over. We can apply this theory to cryptocurrencies as well. The coins least affected by the bear market and those that recover quickly will probably boom in the bull market. SNX currently fulfills these criteria as the crypto market took a hit early this week, but the token has already recovered and made new all-time highs! Watch The Volatility If you decide to enter SNX (or you are already long), then it is essential to note that the volatility has increased strongly in 2021, as portrayed by the ATR. The Average True Range (ATR) is a volatility indicator. Many traders use the ATR as a trailing stop loss; for example, they may place their stop loss at two times the ATR. So if you buy SNX at $15, and the ATR has a value of $1.88, then your stop loss would be at $15 - (2*$1.88) = $11.24. On January 1st, the ATR value was $0.88, while today, the ATR value more than doubled at $1.88. Even if you don't use the ATR as a trailing stop loss, you can use it to judge how volatile the market is and whether you should make your stop loss wider or narrower.
Long
by cryptohopper
SNX/USD - Warning, retrace possible to $5-6!SNX has done a 5x since November and now we are at the top of the ascending channel. This is a danger zone! There is also a bearish divergence on all three indicators: MACD / RSI / Stoch RSI = higher price and lower top on indicators = we're losing momentum. This is not good. A good indicator to sell is when the yellow parabola will break. When that happens, there is little reason to hold onto the coin or buy, we need to find support again which is quite some way down at $6-7. Therefore the bias is bearish, we may have one or two impulses up still, but it is hard to justify buying here. Be careful. Do not FOMO. SNX shows clear signs it will correct. Breaking the long term ascending channel up would be extremely bullish, but also dangerous to trade due to sharp volatility. Watch closely. Like and follow if you liked this idea!
Short
by DU09
2
Leg Up Before Healthy Correction Dose For SNX ?My Fellow Crypto Traders, Appreciate you taking the time to view my analysis which I hope you may find beneficial. Please be sure to “LIKE” if you indeed find my analysis useful and/or find my analysis intriguing. Cheers & Happy Trading! ___________________________________________________________________________________________ ANALYSIS: SNX has been on a savage run with gains of 68% within 3 days, as it feels another AltCylce could be upon us. However, volume appears stagnant in which could result in a micro correction towards lower VWAP levels. But if there is an RS Flip @ the $12.18 resistance level, due to an increase in money flow from larger Alt's and BTC, SNX can see some resistant free positive price action
by AB_Trading-Intelligence
SNX (Y20.P5.E1).Stalking a breakout tradeHi All, Another one I overlooked, was stalking it but lost focus. Hmm. Previous post link below. This does look like an inverse H and S and hence the 1st Target. MY THOUGHTS: If the weekly resistance stops it, then look to buying in at the level suggested if a pullback happens. If it does break, look for a retest on the weekly resistance before buying in. To go long, I would like to see a daily candle open and close above the weekly level. All the best, S.SAri Weekly chart..,bullish in structure. Should do well in ALT season. Possible scenarios PREVIOUS POST
Long
by ssari
2