SNXUSD trade ideas
SNX FRVP analysisUsing the fixed range volume profile tool over the last two days, we can see we have a POC at ~1.628. The last rally from approximately the 5th-11th resulted in a POC at around 1.511 which we hovered around dipping slightly below before starting the next rally up. If we follow the same trend this weekend, we should treat 1.628 as the POC before heading higher. Breaking the 1.745 resistance line will signify a breakout to the upside. Considering that VPOC has been increasing each rally, this could point to a potential breakout within the next 16-24 hours.
Obviously, this is a short-term analysis, so we will see shortly if it is invalidated.
SNX Possible Power of three. (most complete description)I think it brewing a long term power of three. As the momentum narrative is about solana and shitcoins, and as snx is bellow 8 monthly EMA, I think that it's not the best time to take it. When eth/btc reverses, and a big volume spike a good green candle, so could be a good time to entry in it.
Remember: DYOR
Synthetix Network Token
Price Action: The price has touched or moved near the lower band, which may indicate a short-term support area. However, since the price continues to move lower, it could signal bearish momentum.
Support Levels: Around $1.30: This seems to be a key level where the price found temporary support after the recent drop.
Resistance Levels: Around $1.50: The price struggled to break above this level in the recent bounce, making it a key short-term resistance.
Bearish Candles: The latest candlesticks show strong bearish momentum, with long red candles, indicating aggressive selling pressure.
Watch for Reversal Patterns: Look for candlestick reversal patterns (e.g., hammer, doji) near the current support zone to signal a potential bottoming.
Short-Term: The market is still in a clear downtrend, but the price is approaching a potential support zone between $1.30 and $1.08. A bounce from this area is possible, but further confirmation from candlestick patterns and volume is needed.
Medium-Term: A break above $1.50 and higher would be necessary to signal a potential trend reversal. Otherwise, the downtrend may continue, especially if the price fails to hold support around $1.30.
SNXUSD About to Explode: x97 Surge Imminent!Join me as I dive into the world of SNXUSD and challenge myself to predict if this x97 surge is really about to happen!
Are you ready for a potential game-changer in the cryptocurrency market? In this video, we dive deep into the SNXUSD (Synthetix) and explore why analysts believe it's on the brink of an explosive x97 surge! 🚀
Join us as we break down the latest market trends, technical analysis, and key factors driving the price action of SNXUSD. We'll discuss the underlying technology, the role of Synthetix in decentralized finance (DeFi), and what this surge could mean for investors.
Whether you're a seasoned trader or just getting started, this video is packed with valuable insights that could help you make informed decisions. Don’t miss out on the chance to learn about the potential of SNXUSD and how to position yourself ahead of this imminent explosion!
🔔 Like, Share and Subscribe for more updates on cryptocurrency trends and analysis, and hit the notification bell so you never miss a moment of the action!
#SNXUSD #Cryptocurrency #Investing #Synthetix #DeFi #CryptoSurge #marketanalysistoday #bitcoin #cryptocurrencyprediction #investing #cryptoprediction #trading #altcoins #marketanalysis
SNX mid-term analysisSNX is trading below a bearish trend line.
The big SNX structure is completely bearish.
It is expected to reach the demand range in the medium term and then move upwards.
We are looking for buy/long positions in the demand range.
Closing a weekly candle below the demand range will violate the analysis.
Note that the financial market is risky, so:
Do not enter a position without setting a stop and capital management and confirmation and trigger.
When we reach the first TP, save some profit and try to move the stop continuously in the direction of your profit.
If you have any comments please post them, comments will help us improve our performance
Thanks
$SNX to $13-$25NYSE:SNX looks like it's about to make a big move higher.
Price broke out from the bottom, tested $4.73 multiple times and now has retested the breakout level as support. It looks set to move higher here.
Should price break above the $4.73 level, there's pretty clear skies until $13. If price can break over that $13 resistance, then the next level higher would be $25.
Overall a beautiful chart.
SNX - 500+ days range comes to an endSNX has been trading in this accumulation range for more than 500 days now, but I am sure this will come to an end coming days.
First step would be a weekly candle close above the range highs. Think we will see a strong push towards 5$ after that.
Stay safe!
📈 Elevate Your Portfolio with Synthetix (SNX) - Long Awaits!Hello, fellow traders and blockchain enthusiasts! Today, I'm diving deep into the undercurrents of the crypto sea to fish out a gem—Synthetix (SNX). But before we set sail, let’s anchor down on some recent trends and data analytics that signal a wave of potential profits! 🌊💸
Current Landscape and Analyst Insights on Synthetix (SNX)
Recently, Synthetix has been bustling with activity, especially with the launch of Synthetix V3 on the Base network. This upgrade introduces significant enhancements such as increased liquidity provider limits, up to $21.92 million USDC, and an enriched user experience with better incentives and transaction fee structures.
Here’s what you need to know:
Governance and Community Engagement: Synthetix is actively engaging its community for governance decisions. For example, to participate in the PYTH governance distribution, users need to actively participate through the Synthetix Discord by April 22nd. This shows Synthetix’s commitment to decentralized decision-making.
V3 Launch and Liquidity Impacts: The recent shift to Synthetix V3 on the Base network has successfully increased the liquidity cap and introduced a system where users can earn transaction fees and LP incentives by providing USDC collateral.
Diving Into Data: The Big Picture
Hold on to your hats, because the winds of change are blowing! Recent analyses using sophisticated big data tools have surfaced some compelling indicators:
Transaction Value Native: Recently hit a trough at $3,232.41. Historical data suggests that such lows are often followed by significant price surges. 📉➡️📈
On-Chain Metrics: Indicators are in a downturn. However, don't be misled—this is when the magic happens! Past patterns show a potential median price increase of a whopping 43.89% over the next month. Mark your calendars! 📅
Such a configuration of data previously marked 22 similar historical episodes with a staggering 87% of those signaling an upswing post-condition met.
Cyclical Surge: Timing is Everything
And guess what? SNX is just revving at the bottom of its composite price cycle. This isn't just a quick sprint but a marathon with the cycle projected to rise through July. Ready, set, go long! 🏁
Targets:
Entry Point (Long Position): Leverage the low transaction value native and on-chain metrics downturn as entry signals.
Target Prices (TP) and Stop Loss (SL):
TP: $4.0108 🎯
SL: $2.1757 🛑
Price Predictions for Upcoming Periods
Based on the current analysis and market cycles:
1 Week: $2.9748
2 Weeks: $3.2584
1 Month: $3.9659
3 Months: $8.6669
6 Months: $10.8558
To Conclude: Why Ride the Synthetix Wave?
High historical hit rate and accuracy
Consistent relationship between observed drivers and market movements
Attractive risk-reward balance with minimal drawdowns
So, why wait? Dive into the Synthetix tide and let the currents guide you to profitable shores. Let's catch this wave together—follow for more deep dives and treasure troves!
P.S. Don't forget to subscribe to this ideas flow right now😂
$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?
Massive 2year bottom on $SNX completing. Adam, eve & lil handleAdam, eve & lil handle on Synthetix COINBASE:SNXUSD
SNX gearing up for a comebackThis token exhibits a rather intriguing default behavior; working with it may indeed be more predictable.
I'm keeping an eye on the breakout in the green zone, which could be a sign of a trend change in this asset.
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.
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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.⚠️
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❗️⚠️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.
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!
SNX Bullish long term outlookSNX is showing a clear bullish accumulation structure.
After breaking above resistance and confirming it as support our next real target is 7.7 dollars.
The chart is really simple, and I wouldn't enter a leveraged long here. However, if you have a long term goal of holding certain tokens this one has tremendous upside and looks incredibly bullish.
I'll see you at $7.7
SNXUSD (4H) - Bullish wave We2Hi Traders
SNXUSD (4H Timeframe)
A high probability, entry signal to go LONG will be given with the upward break of 4.53 after the market found support at 3.93. Only the downward break of 3.93 would cancel the bullish scenario.
Trade details
Entry: 4.53
Stop loss: 3.93
Take profit 1: 5.65
Take profit 2: 6.72
Score: 8
Strategy: Bullish wave We2
Is SNX Ready For A Jump TO $7.5?Range Breakout Rally Potential: SNX (Synthetix) price action hints at a range breakout rally that could lead to a significant trend reversal.
Challenging 23.60% Fibonacci Retracement: The coin is challenging the 23.60% Fibonacci retracement level, indicating a possible bullish breakout.
Target of Surpassing $4.29: Crossing the $4.29 mark could propel the Synthetix market value towards $6.
Long-term Consolidation and Comeback: After a long period of consolidation in 2023, Synthetix is making a notable comeback.
Current Market Pullback: A recent market pullback poses a challenge to the bullish momentum.
135% Increase in Two Months: Synthetix has seen a significant rise, increasing by 135% in the past two months.
Potential Evening Star Pattern: The presence of a long-range Doji candle suggests a potential evening star pattern.
Current Trading Price: SNX trades at $4.220, facing intraday losses.
Technical Indicator - MACD: The MACD in the weekly chart shows a sustained bullish trend with growing bullish histograms.
Possibility of Reaching $7.485: If SNX crosses the 23.60% Fibonacci level, it could potentially reach $7.485, a 78% increase.
Risk of Retesting $4 Level: A reversal could lead to a retest of the $4 breakout point.
SNX ANALYSIS (1D)This symbol appears to be inside a large B wave that has become a triangle. Now at the end of wave d of B is big. If it reaches the specified green range, you can look for buy/long positions
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
$SNX -Chaos PRZ Price Targets Taking High to the low and adding Chaos PRZ gives us a pretty crazy price target. Chaos PRZ were getting hit left and right last two cycle, let's see if we can get there this time.
SNX All signs Point to 8.00 long term. Mindful TradingNot financial advice
All charts are made on current market conditions.
Things of note:
Stop loss 1.75
Holding 1.47 even on the pullbacks is what will count long term.
If you notice the window from the start of this token .
That was a 420% box.
We can apply that same metric from the low of 1.47 to determine a top
That numbers resides roughly at 8.00.
Concerning indicators:
Please notice parabolic curve forming on RSI
As well as upwards momentum on STOCH RSI with the 92 level highlighted as overall it's still a descending trendline on the Stoch Rsi.
Don't expect it to go to 8.00 overnight and again a retest of the 1.47 area is okay.
The key is maintaining that level to go after 8.00
One of the top 5 picks I had for Dollar Cost averaging into the month of November.
This started at the 1.85 level and will continue for me .
Always practice patience and do your own research.
#PIK
Patience Is Key
#TLAW
Think Like A Whale
Synthetix / US Dollar (SNX/USDT) Token Analysis 11/09/2023Fundamental Analysis:
Synthetix is in the process of constructing a decentralized liquidity provisioning protocol accessible for various purposes by any protocol. Its substantial liquidity and minimal fees act as the infrastructure for numerous exciting protocols on both the Optimism and Ethereum networks. A multitude of user-facing protocols within the Synthetix ecosystem, such as Kwenta (Spot and Futures), Lyra (Options), Polynomial (Automated Options), as well as 1inch & Curve (Atomic Swaps), harness Synthetix liquidity to empower their functionalities.
Synthetix is developed on the Optimism and Ethereum mainnet platforms. The Synthetix Network is secured by collateral in the form of SNX, ETH, and LUSD, enabling the creation of synthetic assets known as Synths. These Synths mimic and generate returns based on underlying assets without necessitating direct possession of the assets themselves. This pooled collateralization paves the way for a variety of on-chain, composable financial instruments supported by liquidity sourced from Synthetix.
Some of the most highly anticipated forthcoming releases from SNX include Perps V2, which seeks to enable cost-effective on-chain futures trading by leveraging off-chain oracles, and Synthetix V3, designed to rebuild the protocol in line with its original objective of becoming a fully permissionless derivatives protocol. You can find more information about Synthetix on their blog or by joining the SNX Discord community.
The platform's mission is to expand the cryptocurrency realm by introducing non-blockchain assets, thereby granting access to a more expansive and robust financial market.
Synthetix operates as a decentralized exchange (DEX) and serves as a platform for synthetic assets. Its architecture is designed to provide users with exposure to underlying assets through synths, eliminating the need to hold the actual assets themselves.
This platform empowers users to autonomously trade and exchange synths, while also offering a staking pool where SNX token holders can stake their tokens and receive rewards in the form of a share of transaction fees from the Synthetix Exchange.
To track the underlying assets, Synthetix employs smart contract price delivery protocols known as oracles. This approach ensures that users can seamlessly trade synths without encountering liquidity or slippage issues, and it eliminates the requirement for third-party intermediaries.
SNX tokens play a crucial role as collateral for the minting of synthetic assets. Whenever synths are generated, SNX tokens are locked up within a smart contract.
Since its inception, the protocol has transitioned to the Optimistic Ethereum mainnet to mitigate gas fees on the network and reduce oracle latency.
The SNX token is compatible with Ethereum’s ERC20 standard. The Synthetix network is secured through proof-of-stake (PoS) consensus. Synthetix holders stake their SNX and earn returns from the network fees.
Another way for SNX stakers to earn rewards is via the protocol’s inflationary monetary policy, known as staking rewards.
The maximum supply of SNX is 323,506,696 coins, of which 269,871,212 SNX is in circulation as of September 2023.
At the seed round and token sale stages, Synthetix sold more than 60 million tokens and was able to raise $30 million. Of the total 100,000,000 coins issued during the ICO, 20% was allocated to the team and advisors, 3% to bounties and marketing incentives, 5% to partnership incentives and 12% to the foundation.
The network was initially launched in September 2017 by Kain Warwick under the name Havven (HAV). Approximately a year later, the company underwent a rebranding, adopting the name Synthetix.
Kain Warwick, the founder of Synthetix, also holds a position as a non-executive director at the blueshyft retail network. Before establishing Synthetix, Warwick had been involved in various other cryptocurrency projects. Additionally, he is the founder of Pouncer, a live auction site exclusive to Australia.
Peter McKean, serving as the project's CEO, boasts over two decades of experience in software development. Prior to his role at Synthetix, he worked as a programmer at ICL Fujitsu.
Jordan Momtazi, the COO of Synthetix, brings to the team his expertise as a business strategist, market analyst, and sales leader, with a wealth of experience in blockchain, cryptocurrency, digital payments, and e-commerce systems.
Justin J. Moses, the CTO, formerly held the position of director of engineering at MongoDB and served as the deputy practice head of engineering at Lab49. He also co-founded Pouncer.
Technical Analysis:
As we observe, the price has experienced a decline from its all-time high (ATH) of $29 and is currently fluctuating within the Fibonacci retracement levels of 88.6% and 95%. Within this range, there are two noteworthy price support zones at $0.8 and $0.3.
We have identified three potential price targets:
First Target Price (1TP): $28.8
Second Target Price (2TP): $36.5
Third Target Price (3TP): $46.5
Furthermore, we can regard the major Fibonacci retracement levels as potential resistance levels, which we have indicated on the chart.
Sentiment Analysis:
Considering the possibility of depreciation in the total market capitalization of cryptocurrencies and the price of Bitcoin (BTC) in the upcoming months, it is reasonable to consider employing a Dollar Cost Averaging (DCA) strategy for long positions at the specified support levels.
✴️ Synthetix Easy 90% Target Mapped | The Master TraderIt is pretty obvious already what is happening here. Had this one early on in my list for today but by the time I came to writing the breakout had already taken place... Never mind, there is room for additional growth.
Synthetix (SNXUSD) closed above EMA50 yesterday and is growing above this level today.
Strong higher low short- and mid-term, as well as a falling wedge.
High volume, bullish indicators; Everything looks great.
This chart confirms what I wrote about the Altcoins market going bullish, it is already happening but it takes time before the full force is fully felt.
What happens if things doesn't go our way?
What are the chances of another delay?
I wouldn't worry about those questions because that would imply that we have to win on every trade.
Set a potential target and a clear stop-loss.
✔️ If it goes up, that's a win.
✔️ If it goes down, that's a loss.
The market can do whatever it wants... It will always fluctuate... Make the wins big and the losses small.
You don't have to win them all.
In fact, you can lose 7 out of 10.
But limit the loss to the minimum on those seven and maximize profits on the rest.
The next strategy is the long-term hold... Just buy Altcoins using Bitcoin until they grow. That's how I do it!
Focus on the long-term... Or whatever works.
Your trading strategy will depend on your own goals and lifestyle, I am just sharing some ideas that might help you build your own.
Thank you for reading.
Remember to...
Thanks a lot for your support.
Namaste.
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.
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