SNXUSDT trade ideas
SNX- Breakout
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69K
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SNXUSDT IDEAUPDATE
Falling Wedge Breakout Has Already Confirmed Retesting In Process In Case Of Successful Retest Expecting +30% Bullish Wave✍️
COIN DETAILS
The live price of Synthetix is $ 3.486511 per (SNX / USD) with a current market cap of $ 1.06B USD. 24-hour trading volume is $ 40.77M USD. SNX to USD price is updated in real-time. Synthetix is +2.1% in the last 24 hours with a circulating supply of 304.57M.
BINANCE:SNXUSDT - Watch out for rising wedge------------------------------------------------------------------------------------------
Description
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+ A clear rising wedge pattern formed in SNX
+ Current price is at the resistance level trying to breakout the resistance, which is less likely to happen
+ Our entry plan is around 3.8 when price breaks down the support line.
+ We can expect the reversal of the price in next 2days.
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Signal
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VectorAlgo Trade Details
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Entry Price: 3.8
Stop Loss: 4.149
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Targets 1: 3.776
Targets 2: 3.555
Targets 3: 3.285
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Timeframe:
Capital: 1-2% of trading capital
Leverage: 5-10x
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Note: This is a short trade in the bull market, so it's a high risk trade.
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SNX ANALYSIS (4H)On the chart, from where we entered "START", we seem to see a correction.
This correction seems to be a diametric.
There was a suitable place for the termination of the F wave on the chart, which we marked with red color.
If the price reaches this range, you can enter a sell/short position.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Potential projects:Our next guest is SNXBINANCE:SNXUSDT BINANCE:SNXBTC
Technical: Patterns on the chart.Yeah the project has potential and good to invest as well.✅
Fundamental: Synthetix weekly trading volumes surpassed $1 billion, overtaking decentralized derivatives exchange GMX to become the second-most active platform.✅
Sentiment:Popular coin on social media(x,YouTube,etc..)✅
snx looking strong Trend Is Already Up And Correcting After Solid Gains Now Seems Like Preparing To Continue Its Uptrend Expecting Solid Recovery In Coming Days
Consolidating In Falling Wedge In 8h Timeframe & Approaching Towards Descending Trend line Incase Of Breakout Expecting Massive Bullish Rally Towards 5$ In Coming Days
SNXUSDT - BULLISH OUTLOOKSNXUSDT is exhibiting a bullish divergence on the 1-hour (1H) time frame, signaling a potential bullish reversal. This divergence suggests a weakening of the prevailing downtrend and hints at a possible shift towards an upward trajectory.
For traders contemplating a position, the following trading strategy is suggested:
Entry: Consider initiating a long position using a Buy Stop order at the price level of 3.42.
Stop Loss (SL): Implement a risk management Stop Loss order at 3.08.
Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio:
TP1 = 3.76
TP2 = 4.10
This trading strategy aims to capitalize on the anticipated bullish reversal. However, it is crucial to closely monitor the market for any changes in price action and be prepared to adjust the strategy accordingly.
SNXUSDT Elliott Waves AnalysisHello friends.
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Everything on the chart.
Entry: Market and lower
Target: 5.5 - 7 - 8.2
after first target reached move ur stop to breakeven
Stop: (depending of ur risk). ALWAYS follow ur RM .
risk is justified
Good luck everyone!
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It's not financial advice.
Dont Forget, always make your own research before to trade my ideas!
Open to any questions and suggestions
$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....
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.
🔥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!
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