SNXPERP trade ideas
Synthetix: readjusting the short-term count slightlyI was surprised that Synthetix rallied so much over the week end, that the sub-wave B is much longer than I expected so I readjusted the count to match what the price has done. Now I think there are higher odds that price falls to the 50% Fibonacci retracement than the 61.8%. In other words, Synthetix is bearish in the short-term but very bullish in the long-term and the upcoming dip seems like a great entry point.
Synthetix: another 10x bagger digital asset (short-term view)Synthetix appears to have completed an expanding diagonal for a primary wave 1 and is now correcting in the shape of a zig-zag for its primary wave 2. I added the range where I think the price could fall before resuming its bull market. The long-term view is extremely bullish so have to keep that in mind.
LONG on UMA l- SNX and UMA should have a stronger correlationThe correlation in price is way off. Also, I’m long on both- particularly UMA. (I have very little invested and I still feel this way.) I’m anticipating an AAVE/ COMP like spike in both of these
GIANT Bullish Divergence on the WeeklyAs the title states, we have a clear bullish divergence on the weekly RSI. Also, on the weekly Stochastic RSI, we are finally bottoming out. Buy buy buy!
Unedited Chart...Most the time I clean my charts up and leave nothing I do on there however this time I left some on there, High confluence area is around our orange bubble-in relation to that I expect us to peak around early next year.
SNX Bullish BatThe PCZ of the bullish cypher is about 5.5, the first target is 16.3 and the second target is 23.7
SNX/USDT - Long term 240% targetHello, traders!
The price of SNX is at the upper bound of the range of $5.44 - $8.34, which was the beginning of the previous business cycle.
Therefore, in this range, we can expect the beginning of a new one.
The price range of $5.44 - $6.55 will be [ptimal for the purchases, where you can get a more favorable entry point for a long-term deal.
Stop-loss can be placed under the price at $4.32
Objectives for purchase are levels
$11,50
$13.50
$16,39
$22,30
Good luck and watch out for the market.
P.S. This is an educational analysis that shall not be considered as financial advice
Synthetix Network Token (SNX) - June 17Hello?
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(SNXUSD 1W Chart)
It remains to be seen if the price can sustain above the 7.18818242 point.
You need to trade cautiously before breaking out of the downtrend line.
(1D chart)
It remains to be seen if the 7.83712580-9.58486731 zone can find support and move up.
The price should remain in the range of 9.58486731-13.08035054 to convert into an uptrend.
If it falls from the 7.18818242 point, it may take a long time to rise as it enters the mid- to long-term investment area, so careful trading is required.
However, the 4.08924351-5.01566486 section may find strong support and move up along the uptrend line, so you should think about how to respond.
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(SNXBTC 1W chart)
It remains to be seen if the 0.0002333-0.0002815 zone can find support and move up.
If the price holds above the 0.0002333-0.0002815 range, we expect the uptrend to continue.
A full-fledged uptrend is expected to begin only after breaking out of the downtrend line.
(1D chart)
It is important to have support in the range 0.0002166-0.0002625.
To convert into an uptrend, it needs to rise above the 0.0002815 point for support.
However, it should break out of the downtrend line to accelerate the uptrend.
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We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.
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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** See support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
Explanation of abbreviations displayed in the chart
R: A point or section of resistance that requires a response to preserve profits.
S-L: Stop Loss point or section
S: A point or section where you can buy to make a profit as a support point or section
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
Bullish flagSeems like everyone is panicking but when you zoom out you can see that this so called crash is just another typical correction which is showing a very bullish flag that is close to completing
Just had buy signals on half a dozen cryptos SNX is leadingSNX clearly broke out of a formation and you can see the blue buy signal at the bottom.
Have also just had the same signal for; Ethereum, Cosmos, Link, Dot, Ada, Silver, Gold and waiting on Bitcoin.
Buy weakness and sell strength.
SNX zonesSNX should be $100+ by now
No comment
Go long or go fiat!!!
r/r 2.54
Summer BOOM priming
HODL
$SNXUSD SWINGWe're finally breaking out (and backtested) the downtrend + came down to kiss the golden pocket. Profits taken from this trade will be left in the coin for longer term exposure.
Synthetix is a decentralized finance (DeFi) protocol that provides on-chain exposure to a wide variety of crypto and non-crypto assets. The protocol is based on the Ethereum (ETH) blockchain and offers users access to highly liquid synthetic assets (synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset.
The platform aims to broaden the cryptocurrency space by introducing non-blockchain assets, providing access to a more robust financial market.
Synthetix provides you with exposure to a wide array of both crypto and non-crypto assets in a decentralized, permissionless, and censorship-resistant way, enabling you to participate in the DeFi ecosystem despite not holding those assets. Likewise, it has taken a leading role in bringing derivatives to the crypto market, further advancing the maturity of the ecosystem.
snxSNX is on a tear at the moment and looks like it will be time to take some profit at around $0.25
