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SNXUSDT

SNXUSDTHello Crypto Lovers, Mars Signals team wishes you high profits. This is a one-day-time frame analysis for SNXUSDT Here we have R2 and R1 as the resistance areas that express the price was not able to rise at different points. S1 used to be a resistance line. And S2 is a long-term support area in this chart containing the support of price even since the past. Thus, we have the price fluctuating over S1 line in a rising trend after breaking this line upward and we expect it to resume its rise and reach R1. Then by having some rising signs there, we would wait for an increase. So if we receive some confirmation candles to rise, an increase would take place for the price to break R1 upward and even move rise toward R2 area would happen in case the price is supported at R1. In case R1 area is lost and the price is not supported, more fall is predicted there for it to touch lower amounts. So we suggest you to put your trade orders by the time the price is on the pullback toward S1. If the price falls below S1, definitely more decline will happen. Please bear in mind to wait for some confirmation candles in order to make sure what will happen next and act precisely and well. Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions. Wish you luck
by MarsSignals
Synthetix (SNX) Ignites Market ExcitementIntroduction: Synthetix (SNX) is a decentralized protocol that allows the creation of synthetic assets on the Ethereum blockchain. It has been gaining popularity in the cryptocurrency market due to its unique functionalities and innovative approach to synthetic assets. In this technical analysis, we will examine the SNX/USDT trading pair and provide an overview of its current trend and potential price movements. Current Trend Analysis: SNX/USDT has been moving in an uncorrelated manner compared to most of the coins in the cryptocurrency market, indicating strong price strength. This strength can be attributed to the major resistance level that was broken on the daily timeframe. This breakthrough suggests that the mid-term uptrend is likely to continue. Price Predictions: Based on our technical analysis, we anticipate a major 40% price increase from the current level. However, investors need to watch out for a new lower low, as this could invalidate the bullish outlook. Conclusion: In conclusion, the SNX/USDT trading pair presents a promising opportunity for investors to participate in the growth of the Synthetix protocol. Its unique functionalities and innovative approach to synthetic assets make it a valuable addition to any investment portfolio. With the current trend and potential price movements, it is crucial to stay informed and vigilant to make the most out of this opportunity.
Long
by CryptoPAMM
#Synthetix Expanding with Rising Volumes, Resistance at $2.05Past Performance of Synthetix Synthetix is up 46 percent from the December low and relatively stable, checking the performance in the daily chart. As asset prices soar, SNX is stagnant, trading below the $2.05 resistance level. Even so, the leg up in the past few days places buyers at a pole position for a breakout toward new Q1 2023 highs. #Synthetix Technical Analysis Traders are upbeat, expecting more. In the daily chart, SNX traders may look for more gains in the days ahead. Notice that losses of December 16 have been reversed at the back of increasing trading volumes. This is a net positive from an effort versus result perspective, a refreshing development after losses in 2022. Given that SNX bars align along the upper BB and the coin above December 16 highs, every low provides an opportunity for optimistic traders to load the dips, targeting $2.05. Unexpected contractions pushing SNX below $1.50 and the middle BB nullify this bullish outlook. What to Expect from #SNX? SNX prices are stable, but volatility is low. The upside momentum is strong, with signs that Synthetix could break above $2.05 in continuation of gains traced to late December. As it is, SNX is firm as long as prices are above the middle BB and $1.50. Resistance level to watch out for: $2.05 Support level to watch out for: $1.50 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer