SNX/USDT: Bullish reversal on going?---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------
SNX/USDT: Bullish reversal on going?
Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets SNX suffered about negative global market situation
- SNX is expected to try to exit from the bearish channel or at least testing the upper part at 5,55
Market configuration
- Graphical Elements :
Graphical Resistance = 5,55 & 29
Graphical Support = 1,55 & 0,99
- Mathematical Indicators:
EMA ( Exp Moving averages) are being reintegrated = bullish
RSI indicator (below) is reintegrating 50% = Bullish
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (C) B is set at = 1,55
Fibonacci resistance of the wave in progress = 5,55
Fibonacci support of the wave (C) B(max extension) = 0,99
Fibonacci Bullish Target = 14,20
Conclusion
Preferred case => Regarding the mid-term element,SNX is expecting to do a bullish reversal from the area we are now. we are bullish above 1,55 towwards 5,55 the upper part of the bearish channel and we expected then a bullish exit towards 14,20
Alternative cases => Breaking 1,55 a significant drop will open the door towards 0,99
