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SNXUSDT.PS trade ideas

SNX/USDT Break the key level area. Confirm to continue UP ??💎 SNX has undeniably captured the market's attention with its breakout from the supply area, a feat it has achieved after several attempts. This breakout is typically followed by a retest phase, and it's likely that SNX will enter such a phase at the demand level of $2.53, which previously acted as a supply zone. 💎 There is a strong chance that SNX will rebound from this level, the probability it towards our target supply zones with considerable upward momentum. 💎 However, should SNX fail to hold the demand area during the retest and breach below it, the scenario could turn bearish. The next critical demand level to watch would be $2.175. A bounce from this lower level is essential for SNX to maintain its bullish posture and attempt to reclaim the $2.53 level. Failure to hold the $2.175 level could signal a bearish shift, potentially sending SNX back to its foundational support levels.
by MyCryptoParadise
Snx : Grab the Bull by the Horns! 🚀 - A Strategic Buy Opportuni **Fundamental Analysis** SNX is the native token of the Synthetix protocol, a decentralized exchange (DEX) that allows users to trade synthetic assets (Synths) that track the price of real-world assets without having to hold the underlying asset itself. Synths are created by locking up SNX tokens as collateral. The value of SNX is therefore closely tied to the demand for Synths on the Synthetix platform. SNX has a number of advantages over other DeFi tokens: * It is a utility token that is used to create and redeem Synths, which gives it a clear use case. * It is a relatively scarce token, with a total supply of only 210,000 tokens. * It has a strong community of users and developers. **Recent News** * **October 4, 2023:** Synthetix announces the launch of a new feature called "Synth Futures", which allows users to trade futures contracts on Synths. * **November 1, 2023:** Synthetix announces that it has integrated with the Chainlink oracle network to provide price data for its Synths. * **November 14, 2023:** Synthetix announces that it has launched a new product called "SNX Staking", which allows users to earn rewards for staking their SNX tokens. **Disclaimer** Please note that this is not financial advice. I am not a financial advisor and this information should not be taken as financial advice. Please do your own research before making any investment decisions. I hope this information is helpful. Please let me know if you have any other questions.
by MoonTradingForecast
SNX ANALYSIS🔮 #SNX Analysis 💰💰 #SNX gave a breakout of symmetrical triangle pattern and trying to retest the levels. If #SNX closes above $2.8 then we will get a confirmation of a bullish trend. 🚀🚀 💸Current Price -- $2.632 📈Target Price -- $4.452 ⁉️ What to do? - We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸 🏷Remember, the crypto market is dynamic in nature and changes rapidly, so always use stop loss and take proper knowledge before investments. #SNX #Cryptocurrency #Breakout #DYOR
Long
by ZEUS_Market_Alerts
2
SNX/USDT In the crucial Area. It required for Break out or Down💎 SNX has indeed garnered significant attention in the market due to its remarkable uptrend. Having broken out of the descending channel, SNX has demonstrated a substantial upward trajectory post-breakout. 💎 Currently, SNX is in a phase of consolidation within the supply zone, and it faces a critical juncture where it must surpass the resistance level; failing to do so may result in a retracement to the support area to gather momentum for another upward push. Should SNX manage to breach the supply level at $2.56 and sustain a close above it, it would confirm the bullish intent, potentially propelling SNX toward our projected target in the major supply zone. 💎 Conversely, in a less favorable scenario, if SNX retraces to the support zone without showing signs of a bullish rejection or a bounce, it could indicate vulnerability at this level. A breakdown or loss of support could precipitate a return to the strong demand area, signaling a bearish shift in momentum for SNX.
by MyCryptoParadise_Nathan
5
SNXUSDT - BULLISH OUTLOOKSNXUSDT is showing a promising technical setup for a potential bullish trade, primarily based on simple price action analysis. Currently, the price action is indicating a bullish momentum, characterized by higher highs (HH) and higher lows (HL) observed on the 4-hour timeframe. The trading strategy involves buying SNX at $2.36 with a stop loss (SL) at $2.16 and setting a take profit (TP) level at $2.55. This TP level indicates a 1:1 risk-to-reward ratio, which means the potential profit is equal to the risk. The bullish outlook is supported by the ongoing HH and HL pattern, suggesting that buyers are in control and the trend is likely to continue in an upward direction. However, it's important to note that trading carries inherent risks, and it's crucial to manage these risks effectively by using stop-loss orders to limit potential losses and adhering to your predetermined trading plan. Keep in mind that the cryptocurrency market can be highly volatile, and conditions can change rapidly, so it's essential to stay informed and adapt your trading strategy as needed to respond to market developments
Long
by sunnytrader07
SNXUSDT.P Prediction (2H, 1D, 1W charts)This is my prediction for SNXUSDT.P. The price has reached 2.596, which is the key price that showed multiple reactions to it in the past. It is yet unclear which direction the price might be heading to: we will have to wait and see. However, my prediction for now is that the price will react to the key price of 2.596 and possibly bounce back up at the price of 2.497 (which acted as a minor resistance level in recent history as shown in the main screenshot), thus keeping the momentum of the uptrend for the time being.
Short
by QJEEE
SNXUSDT Trend AnalysisI'm looking at a bullish trade for SNXUSDT. My buy limit entry is at $2.36, with a stop loss at $2.16 to limit potential losses. My profit target is $2.55, giving us a 1:1 risk-reward ratio. This analysis is on the 4-hour chart. The bullish signal comes from a pattern of higher highs and higher lows, showing that buyers are in charge and the uptrend is expected to continue. I've also seen a fast-moving average cross over a slower one, adding to the bullish outlook. Disclaimer: Trading is risky, and this analysis is for information, not financial advice. Be cautious and consider doing your own research before making any trading decisions
Long
by humsayani
SNX: Resistance BreakoutTrade setup : Bullish breakout from Channel Down pattern and above $2.27 (200-day moving average) signals bullish trend reversal with upside to $2.60. Pattern : Price was trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis. 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 $1.90, then $1.60. The nearest Resistance Zone is $2.60, then $3.05, and $3.40.
Long
by altFINS
SNX/USDT Breakout Alert! Upward Momentum ???💎 SNX has certainly drawn our attention with its breakout from the Descending channel, underscored by significant volume and an impressive upward movement. Presently, SNX finds itself at a pivotal juncture, necessitating a breach of the resistance to maintain its bullish momentum. 💎 Facing potential rejection at this resistance zone, and considering SNX is in a retesting phase on the resistance trendline of the Descending Channel, specifically within the demand range of $2.11 - $2.05, there's a possibility for a slight pullback to solidify the recent expansive gains. Yet, if it triumphs over the immediate resistance, SNX is poised for a smooth climb towards further supply levels and potentially the bearish OB zone. 💎 Amidst this retesting phase, it's crucial for SNX to demonstrate resilience, either by rebounding or showing a rejection pattern, to continue its endeavor to breach the resistance barrier and establish a stronghold above. 💎 Failure to do so could spell trouble, leading SNX to a vulnerable position at the lower demand level, and potentially triggering a further descent towards the critical support area.
by MyCryptoParadise