SNX CHART PREDICIONin this chart, I have made a prediction about SNX crytocurrency for medium term profit.
SNXUSD trade ideas
My thoughts on SNX (my second chart ever)It looks like SNX is being undervalued and will bounce off an old support line and head back up, I'm thinking to the $9 range
Price Prediction & Technical Analysis 12/2320*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I may also own or trade any of the symbols and cryptocurrencies mentioned in this video so do not make your trading or investing decisions based on this video. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. Affiliate links are also included in this same video description section here and if you decide to support me by using any of them, I may receive a referral bonus or commission.
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Is a breakout going to happen with Sxn soonThrough this analysis I see resistant at the $5.50 mark on Sxn. A buy now at $5.24 is .26 cents to the upside.
SushiSwap and Synthetix lead DeFi tokens in recovery
The cryptocurrency market is in consolidation but SNX and SUSHI are flying the bullish flag high.
Synthetix is poised for a 60% upswing above the ascending triangle pattern.
The cryptocurrency market is awfully quiet since the week started. The weekend session saw some considerable movement, amid the push by the bulls to recover from the losses incurred last week. However, SushiSwap (SUSHI) and Synthetix (SNX) appear to have broken away from the rest to post the biggest double-digit gains among the top 50.
SushiSwap breakout eyes $3
SUSHI/USD is up 13% in the last 24 hours. Recovery was significant after the dip to levels slightly under $2. An ascending parallel channel has come into the picture and even boosted the price action after the middle boundary resistance was broken.
Meanwhile, SushiSwap is trading at $2.6 while dealing with the uphill battle of breaking above the channel's upper boundary. The Relative Strength Index seems to have reinforced the bullish outlook with its movement into the overbought region. SUSHI is likely to continue with the upward motion until the RSI starts to reverse due to overbought conditions.
Synthetix rally is in the initial stages
Synthetix has rallied over 16% in the last 24 hours. The decentralized finance token is trading at $5.45, as bulls push to sustain gains above the already broken x-axis of the ascending triangle pattern. The RSI is in tandem with the upward momentum, moving higher within the overbought region.
If the breakout above the triangle is sustained, Synthetix could swing upwards by 60% to trade close to $10. For now, rising above the hurdle at $6 is key for the continuation of the uptrend. On the downside, a correction will seek refuge at $4.75, a region highlighted by the 50 SMA and the 200 SMA.
SNXAlso longed this one.
Break above range mean and I think range high and that clean high around $5.8 are next.
George1 Call
Synthetix about to go Supernova. SNXUSDOn the Binance chart, it just looks like have too many started fractals to count. I have confirmed pivot (blue line), so all this potential growth is that much more real. Yet, still in early stages confirmed by 1-2 1-2 patterns. I suppose my preliminary goals would by first W1max then FibExtensions at 1.4 then 1.6. Either way, strong evidence that we are going up on this one. Some preliminary targets are painted in in green, and invalidation in red as always. Good luck, traders - and remember nothing I ever say is financial advice. Do your own work and make up your own mind.
SNX - which option is playing out?Hi good people!
I am looking at this descending triangle or possibly a falling wedge on SNX for some time now. It has played out on the trendlines pretty precise. It is going to breakout for sure, the question is to which side? For descending triangles, textbook says - down. For a falling wedge, textbook says - up.
Maximum size of the move after breakout = 2.7
Two possible scenarios as I see it:
- BULL option breakout - takes us to app. 6.4, with certain stops on the way for sure
- BEAR option breakout - takes us down to ATL at 0.6 (is this even possible?)
- and a bonus third option - none of the scenarios play out!
I would be happy to know your thoughts! How do we play this one out?
Thank you for the attention!
SNX - DARK DAYSSNX LOOKING FORWARD TO BREAK THIS BEARISH TRIANGLE, IF BROKEN IT HAS CLEAR PATH TO REACH HISTORICAL MINIMUMS.
SNX bounce zonesSNX has a strong base at $3.55 level, but if this level leaks - next buys zone is around $3.00
Synthetix Technical Analysis: SNX Flips Resistance Into Support
Synthetix price bounces off support at $3.40 in readiness for a breakout to $5.00.
SNX/USD is drawing closer to the resistance at the 50EMA, likely to delay the bullish scenario.
Synthetix Network Token price fell in tandem with other decentralized finance (DeFi) tokens. The lending, borrowing, and liquidity ecosystem has been dealt a heavy blow amid the downtrend in the market. Synthetix cut short the recovery staged following the dip in the first week of September. A step above $6.00 was key for the bull run towards $10.00 but it found the bulls exhausted and the bears ready for revenge.
The declines followed the confines of a parallel descending channel. Support at $3.40 came in hardy, preventing the bearish leg from extending to $3.00. A reversal is currently underway. SNX has already stepped above $4.00, support confirmed earlier in September. Moreover, the DeFi token trading above the parallel channel, after a bullish flag confirmation.
The uptrend is highlighted by the Relative Strength Index (RSI), after a sustained recovery from the oversold region. If the RSI maintains the positive gradient into the overbought zone, SNX is likely to continue with the uptrend aiming for levels above $5.00.
The resistance at the 50 Exponential Moving Average (EMA) must, however, come down for the expected gains to materialize. More hurdles are envisaged at the 100EMA in the 4-hour range. On the flip side, short term support at $4.00 must be guarded at all costs. Otherwise, SNX could resume the downtrend, eyeing $3.00.
Synthetix Intraday Levels
Spot rate: $4.25
Relative change: -0.025
Percentage change: -0.8%
Trend: Bullish
Volatility: High
