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Synthetix

SNX (Synthetix): Falling WedgeTrade setup : Price is in a downtrend, however, it's trading in a Falling Wedge pattern, which typically resolves in a bullish breakout and a trend reversal. We wait for such a breakout. Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8. Trend : Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down. Momentum is Bearish but inflecting. MACD Line is still below MACD Signal Line but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing an upswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $1.00. Nearest Resistance Zone is $1.85, then $2.50.
Long
by altFINS
SNX (Synthetix): Falling WedgeTrade setup : Price is in a downtrend, trading in a Falling Wedge pattern. Swing traders: price is approaching the Wedge support trendline and $1.00 horizontal support, and is oversold (RSI < 25!), which makes for a good trade entry, with +50% upside potential to $1.50 key level. Stop Loss at $0.87. Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8. Trend : Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down. Momentum : Price is Very Oversold currently, based on RSI-14 levels (RSI < 25). Support and Resistance : Nearest Resistance Zone is $1.85, then $2.50.
Long
by altFINS
SNXUSDT At a Crucial Point: A Major Breakout or Breakdown Ahead?Yello Paradisers! Could #Synthetix be on the cusp of a massive breakout or a steep decline? The charts are heating up, and the action around the #SNXUSDT is worth watching: 💎#SNX is gearing up for a major breakout from its descending channel on a daily timeframe. The price has consistently respected the trendlines within this formation, but recent developments suggest we could be on the verge of a significant move. 💎#Synthetix is testing the critical support zone of $1.72-$1.94, a crucial area brimming with liquidity. This zone could serve as a launchpad for a breakout above the descending resistance line, potentially marking a trend reversal and aligning with our bullish forecast. 💎There is a Major Support Zone at $1.72-$1.94. A bounce from this level could be the start of an upward rally. Watch for strong buying interest here. 💎If the liquidity at the major support zone isn't enough, we might see a move down to $1.39. A strong buying response at this level could still spark a bullish run for $SNX. 💎However, if both the major and lower support levels fail, #SNXUSDT might face increased bearish pressure, possibly leading to further declines. Remember, disciplined trading and patience are your best allies. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Simon
$SNX typical market cycle (psychology)Pretty clean chart for $SNX. - years of wyckoff accumulation - higher lows - riding weekly MAs in my opinion it appears to be a typical market cycle progressing within the defi space. it's kind of doing its own thing while retail speculates on other coins. This is one of those set it and forget it type of charts. Looks like it wants to break out in the coming months. I recommend more of a position trader mindset. invalidation under 3 bucks (if it decides to turn back over). doesn't hurt to give this one a chance. will you take it?
COINBASE:SNXUSDLong
by Barrenbull
1
SNX/USDT upward momentum? 👀 Synthetix Today Analysis💎Paradisers, zoom in on #SNXUSDT, as it's showing clear signs of an impending major move from a critical demand level. 💎#Synthetix is currently on an upward swing, hinting at a bullish continuation. It's been tracking a descending channel pattern, consistently respecting the channel's resistance. We're anticipating a retest at the demand level of $3.091, which could set the stage for a continued upward momentum. A successful hold above this level for #SNX might open the path to a significant resistance zone at $4.769. 💎 However, should #SNX encounter obstacles in maintaining its position above the $3.091 threshold, a strategic recalibration may be required. In such a scenario, we would consider shifting our focus to a bullish ascent from a secondary demand level at $2.709. 💎 Monitoring this level is essential, as failing to sustain it could indicate a shift towards a more bearish trend in the #SNX market.
Long
by MyCryptoParadise_Simon
3
SNX/USDT in a Position for Exponential Rally? 👀🚀SNX Analysis💎Paradisers, gear up for a thrilling ride with #SNXUSDT! It's currently spotlighting a support zone, suggesting a bright bullish trajectory lies ahead. 💎Lately, tracing an ascending channel, #Synthetix is on a climb. Now, it's amassing momentum for a bullish leap from the $3.86 support zone, with ambitions to breach key resistance barriers. 💎If the bullish fervor persists, we foresee NYSE:SNX taking on the $4.9 resistance zone. Breaking through this barrier may set the stage for tackling even loftier resistance tiers. 💎Conversely, if #SNX meets resistance and momentum wanes, a bullish revival from the $3.05 support level could become pivotal. Dropping below this threshold might usher in a significant downturn.
Long
by MyCryptoParadise_Simon
SNX/USDT Bullish move from Key Support? 🚀 Synthetix💎 Paradisers, brace yourselves for a promising trading moment with #SNXUSDT, as it's strategically placed at a crucial support zone, signaling a potential bullish shift. 💎 Delving into #Synthetix path, it's on an upward trajectory from the significant support mark of $3.530. Holding steady at this level suggests a high chance for a bullish breakout. Keep an eye on the immediate target, the resistance at $3.713, where surpassing it could steer the price towards $4.438. 💎 Should the momentum for #SNX begin to fade, we're poised for a bullish comeback from the solid foundation at $3.364. Yet, dropping below this critical level could denote a move towards a bearish landscape.
Long
by MyCryptoParadise_Simon
Synthetix(SNX) Can Pump 🚀➕20%🚀👋Hi, I hope you have a Great Weekend🥳. 📈Today, I want to share with you an analysis of the Synthetix(SNX) project , which can increase the price by more than 🚀➕20%🚀 in the short-term . 📚 What Is Synthetix (SNX)❗️❓ Synthetix is building a decentralized liquidity provisioning protocol that any protocol can tap into for various purposes. Its deep liquidity and low fees serve as a backend for many exciting protocols on both Optimism and Ethereum. Many user-facing protocols in the Synthetix ecosystem, such as Kwenta (Spot and Futures), Lyra (Options), Polynomial (Automated Options), and 1inch & Curve (Atomic Swaps), tap into Synthetix liquidity to power their protocols. Synthetix is built on Optimism and Ethereum mainnet. The Synthetix Network is collateralized by SNX, ETH, and LUSD, enabling the issuance of synthetic assets (Synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset. This pooled collateral enables an array of on-chain, composable financial instruments backed by liquidity from Synthetix. Some of the most exciting upcoming releases from SNX are Perps V2, which hopes to enable low-fee on-chain futures trading through the usage of off-chain oracles, and Synthetix V3, which aims to rebuild the protocol to achieve its earliest goal, being a fully permissionless derivatives protocol. 🏃‍♂️ Synthetix (SNX) has been moving in a Descending Channel for about 40 days and is currently moving near the 🟡 Potential Reversal Zone(PRZ) 🟡, ⚫️ Time Reversal Zone(TRZ) ⚫️, and Support line . 💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys . 🔔I expect Synthetix (SNX) to start rising soon and go UP to at least the top of the descending channel after breaking the Resistance line and possibly breaking this channel. -------------------------------------------------------------------------------- SNXUSD 👉( SPOT ) 🟢Position: Long ✅Entry Point: 3.280 USD   (Stop Limit Order) ⛔️Stop Loss: 2.880 USD 💰Take Profit: 🎯 3.679 USD RR==1.00 🎯 3.987 USD (Over ➕20%) Risk-To-Reward: 1.77 Please don't forget to follow capital management ⚠️ Please pay attention to the style of opening the position.⚠️ -------------------------------------------------------------------------------- ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Synthetix Analyze (SNXUSD), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
COINBASE:SNXUSDLong
by pejman_zwin
5
Synthetix parabolic move coming!!Synthetix is preparing for a Parabolic move in the next few weeks. The CM ULTIMATE MA MTF on the weekly chart shows a very a clear and distinct pattern. Once it turns green from red the move that follows is fairly substantial. Price action is still fairly low in SNX while the the ULTIMATE MA has already turned green. Down below we have the RSI and it is around the 42 level. Once the RSI gets above The yellow resistance/support line at 50 then price action will move quickly and will continue to do so will it stays above or finds it as support. The key to this chart is the CM ULTIMATE MA turning green (Circled) that is most likely for shadowing the parabola. Thanks for looking! Please like and follow!
COINBASE:SNXUSDLong
by WeAreSat0shi
5
SYN/USDT Need to break the resistance or reject continue down!💎 SYN has recently witnessed significant developments in the market. SYN faced a formidable obstacle in the form of a hard rejection after reaching the Bearish OB area. 💎 Its current stance suggests an intention to retest the resistance level. Success in reclaiming the price above this resistance could trigger an attempt to break out of the Bearish OB area. Furthermore, a successful breakout could probability facilitate an easier path for SYN to reach our target in the strong supply area. 💎 However, should SYN encounter resistance at the 0.765 level and fail to breach it, the price may continue its downward trajectory, possibly reaching the demand area. It's noteworthy that SYN has bounced off this area successfully on two previous occasions in its trading history. 💎 If SYN, while at the demand area, struggles to maintain its position and experiences a breakdown, this could signal a return to bearish sentiment and potentially result in further downward movement.
by MyCryptoParadise
1
🔥SNX Trying to Break 1-year Channel: What Are The Targets❓🔥SNX is the top gainer and grow for 2 months straight. Now the chart shows that SNX doesn't have enough power for the futher growth. Only the breakout of the channel and test it as the support will confirms the bull power. Possible that price can fall to the middle of the channel. I think that it will be a good entry point in long. You need to pay attention on Bitcoin of course to make the right decision. 💥The 2 targets are on chart. Enjoy it! like❤️ and follow
by Alex_Dehtiarov
1
SNX: Pullback in UptrendTrade setup : Bullish breakout from Channel Down pattern and above $2.27 (200-day moving average) confirmed bullish trend reversal to Uptrend. Price has reached and got rejected 3x at $3.75 resistance and pulled back, which could be an opportunity to get on the Uptrend. The nearest horizontal support areas are $3.40 and $3.00, which also line up with 23.60% and 38.20% Fibonacci Retracement Levels. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $3.40 (previous resistance), then $3.00. The nearest Resistance Zone is $3.75, then $4.40.
Long
by altFINS
SNX/USDT planning bullish move? 👀 🚀 Synthetix Today analysis💎Paradisers, SNXUSDT is currently showcasing a noteworthy pattern, having retested its resistance level and now positioned within a demand zone, indicating a potential for a bullish trajectory. 💎 In the past, Synthetix has adhered to a descending trendline, breaking above it to initiate an ascent and retesting a resistance level. Presently, it finds itself back in a demand zone, and the prospects of it embarking on a bullish path from here are strong. 💎 The immediate target appears to be the resistance at 2.532, with the subsequent aim to overcome the bearish Order Block. 💎 However, should the price of #SNX dip below the demand zone, there's no need for alarm, but it does increase the likelihood of a retest at the support level. It's crucial to approach this with a strategic mindset.
Long
by MyCryptoParadise_Simon