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SNXPERP trade ideas

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
✴️ Synthetix Short-Term (Wave Count + Jargon)This is what I am seeing, I can be embarrassingly wrong but I will have some courage and share my opinion with you anyway, even though it can fail badly still, no risk no glory; let's trade. You know when you have your eyes on a pair knowing that it is set to grow and it suddenly crashes. You make a mental note to look back once support hits but somehow you completely ignore it when the time is right and once you look back it is already long gone? I had Synthetix in mind for a while and then completely forgot about it and now it is doing better than many of the other pairs that I recommend and hold. Actually, I don't recommend anything I just read charts. SNXUSD We are looking at a potential impulse after a correction. 10-June clearly marks the bottom of a strong correction and a new impulse develops. We have potentially 2 waves up and 2 waves down, we are only missing one final up wave to form a 3 up 2 down (bullish impulse) wave pattern. Bottom of wave 4 does wick below the top of wave 1 but you know, we can't be too strict with these things. It is too early too tell but with other Altcoins being so bullish, SHIB, BNT, SC, HNT, etc., it is likely that this pair will also resume growing, if not now, maybe within a few days. That's my view of course, I can be completely wrong. In time we will know how it goes. ✔️ Thank you for taking the time to leave a comment. ✔️ Thank you for showing up to read. ✔️ Thank you for your continued support. Namaste.
CRYPTO:SNXUSDLong
by AlanSantana
4
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
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
SNXUSD at the top of the 3 month Channel Down.SNXUSD hit today a triple Resistance Zone, the top of its 3 month Channel Down, the MA100 and the MA200 (1d). Until the price closes over the Channel Down, the trend remains bearish. Trading Plan: 1. Sell on the current market price. 2. Buy above Resistance (1). Targets: 1. 2.000 (Rising Support). 2. 3.000 (Resistance 2). Tips: 1. The RSI (1d) hit its Rising Resistance. If broken it will be a first sign that the Channel Down may break upwards. Also this is a bullish divergence as it is the opposite of the Falling Resistance of the Channel Down. Please like, follow and comment!!
CRYPTO:SNXUSD
by TradingBrokersView
SNX - A Wild Coin 4 The Next Wave Up 🤠For some reason TV allows "4" but not "four" due to language restrictions... Anyhow BTC appears to have printed the next trading range with this recent dump. And may coins have had very sharp pull backs and so I've been buying my favourite coins in this area. We're potentially into the next wave up now and some coins are coming to life whereas others are fading away. SNX is one of the top coins coming to life and boomed 69% since the weekend! And today with BTC dropping off it has collapsed 25%. The 4 Hour RSI still with 40 minutes to go until the candle closes has bottomed quite a few times in this area and this is another clue that the bottom is in here. This high volatility is a big clue that SNX is in demand and may make very good progress in the next period 🧐. Not advice.
COINBASE:SNXUSDLong
by dRends35
SNXUSD Steady bullish breakoutSNXUSD crossed over the Bear market's Falling Resistance for the 2nd time this month on a clear long term bullish signal. It is already 3 weeks after the Golden Cross (1d) formation. Trading Plan: 1. Buy on the current market price. Targets: 1. All Fibinacci retracement levels on by one up to 9.000 (Fibonacci 0.618, the Golden ratio). Tips: 1. The MACD (1d) is on a Rising Support. Indicating a tend shift to long term bullish. Please like, follow and comment!!
BINANCE:SNXUSDLong
by TradingBrokersView
1
SNXUSD About to test the mid-2021 Resistance!It was just 2 months ago when we called for a short-term bullish move on Synthetix (SNXUSD) and projected a major break-out in January 2023: The projection was modelled out of the Lower High legs of the Bear Cycle since May 18 2021. All three fractals pointed to a break of the May 2021 Lower Highs trend-line by the end of January 2023, with the one that has come the closest in candle action being the black. As you see not only did it hold the Support Zone but at the same time matched perfectly the January rebound that followed. Ideally we would like to see a weekly candle closing above the 1W MA50 (red trend-line) for the first time since September 2021, but the Lower Highs trend-line would be a significant break-out on its own. The Fibonacci retracement levels can provide a fair target framework SNX marches its way into the new Bull Cycle. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:SNXUSD
by TradingShot
3
Synthetix: Wedge RedistributionSNX is one among many alts currently in redistribution patterns after Bitcoin's last pullback. Supply volume is entering in the vertical bars as the PA attempts to cut through microtrend support. Will it continue to pullback or will it correct back into the wedge, it remains to be seen. I still hold a bearish bias & I'm expecting an eventual mitigation at 1.50 USD as we retest that level. As I've told members in the group, now is the time to start DCAing in the alts you wish to hodl. These prices are incredible, but they won't be this low forever. The Fibonacci retracement levels can be used as a DCA guidepost as well as a profit target for shorts. **If you have strong hands, patience, and like big wins, be sure to SUBSCRIBE to this channel. Here's why: I track all USD-paired cryptocurrencies on all the major CEXs and seek out the most lucrative swing trades. All my charts are clean and easy-to-follow with exceptional win rates ranging consistently between 80-85%. My TA is based off a combination of Wyckoff/VSA, EWT & Fibonacci. Stop getting smashed and start winning in crypto. My charts will teach you how. *Not a financial advisor. Trade at your own risk.
COINBASE:SNXUSDShort
by jalapablo
7
SNX long term outlook This is a long term chart of SNX with a breakout around 1/17-1/30 2023 coinciding with the macro structure of the chart. Looks as though the bearish pattern has played out but there could another sell off as the head and shoulders is debatable on where you measure either it is -80% down or 87% which would be another large sell off in December. Since the Dxy has recently sold off one would think that the crypto market players would notice but it seems that was not the case. This leads me to believe that once the Dxy bounces of this range there will be another sell off only for crypto to rally once that is done i.e the first two weeks of January. Time will tell. This range is about DCA’ing in at lows during sell offs and stacking positions. However the longer term outlook still remains and doesn’t change in my opinion.
COINBASE:SNXUSDLong
by Tony-Stake
2