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SNXUSDT trade ideas

$SNX - whats nextSignificant moves by BINANCE:SNXUSDT driven by protocol decision to end token inflation - However after passing through heavy long term resistance band (Blue box) failed to take next resistance level... Since then has been in a conjoining wedge - as fails to make headway in either direction - How I'm trading this: 1) Watch to see declining volumes on a flattening baseline -> then either play the breakout (medium risk - higher possible returns) - or assume a retest of trend and buy a few pips north of it....
by Flyte-X
SNX/USDT bullish horizons from Demand Zone? 👀🚀 SNX Analysis💎 Paradisers, let’s zoom in on #SNXUSDT as it’s exhibiting a pivotal market behavior. SNX is currently nestled in a demand zone, poised for another assault on a key resistance area. 💎 #SNX recently faced a setback at the resistance level of $4.964. Presently, it's regaining strength in the demand zone. If it can maintain this upward momentum, we could see an ambitious push towards the significant resistance level at $6.006. 💎 Nonetheless, navigating the unpredictable crypto market demands flexibility in strategy. If #SNX struggles to keep above the $3.806 demand level, a strategic rethink may be required. 💎This scenario might see us anticipating a bullish recovery from a lower support at $3.227. Importantly, if NYSE:SNX slips below this crucial support, it could be a harbinger of a bearish trend.
Long
by MyCryptoParadise
1
🔥SNX Trying to Break 1-year Channel: What Are The Targets❓🔥SNX is the top gainer and grow for 2 months straight. Now the chart shows that SNX doesn't have enough power for the futher growth. Only the breakout of the channel and test it as the support will confirms the bull power. Possible that price can fall to the middle of the channel. I think that it will be a good entry point in long. You need to pay attention on Bitcoin of course to make the right decision. 💥The 2 targets are on chart. Enjoy it! like❤️ and follow
by Alex_Dehtiarov
1
SNX/USDT Break the key resistance area. Bullish Momentum??💎 SNX has significantly caught the market's attention, having recently achieved a notable milestone by breaking through a key resistance area, along with completing the Eve Adam Pattern. This pattern is typically recognized as a rounding bottom, indicative of a bullish trend. 💎 Presently, SNX is demonstrating a robust bounce during its retesting phase at what was previously resistance, now serving as support. This positive momentum suggests a probability continuation of its upward journey, with our next goal being a formidable resistance area. 💎 However, there is a concern: if SNX fails to maintain its upward trajectory and loses support upon returning to this area, it could signal a false breakout. Such a scenario would not bode well for SNX's future direction, possibly leading to a downward trend back towards the demand area. 💎 At the demand level, a strong rebound is essential for SNX. If it fails to show a significant recovery from this zone, there's a risk of further breakdown. This could lead SNX into a deeper bearish trend, potentially moving towards a stronger support area.
by MyCryptoParadise
SNXUSDT - BULLISH OUTLOOKSNXUSDT is displaying a compelling technical setup on the 1-hour timeframe, marked by a bullish divergence on the RSI, suggesting a potential reversal for a bullish trend. Here's a concise analysis and trade plan: Entry: Consider entering a long position at $3.36 Stop Loss (SL): Set the stop loss at $3.17 to manage potential downside risk Take-Profit Levels: TP 1 @ 1:1 = $3.55 TP 2 @ 1:2 = $3.74 TP 3 @ 1:3 = $3.93 After achieving the first take-profit level, consider adjusting the stop loss to the entry point (breakeven) to protect the gains and mitigate further risk. This trade plan is designed to take advantage of the identified bullish divergence on the RSI, anticipating a reversal in the bullish trend. Managing risk through a stop loss and implementing a breakeven strategy after the first take-profit level aligns with a prudent trading approach. As always, staying informed and adapting to market conditions is crucial for successful trading
Long
by sunnytrader07