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SNXUSDT

#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
#Synthetix is down 60% from H2 Highs, SNX Support at $1.76Past Performance of Synthetix Synthetix remains under significant selling pressure. As an illustration, the token is down roughly 60 percent from H2 2022 peaks. Overall, SNX bulls have been struggling to add to their longs following the break above the bear flag in late November. Presently, clear support levels lie at $1.56 and $1.76, respectively. #Synthetix Technical Analysis SNX bears are in command from a top-down preview. In the short term, however, bulls appear to be in control inside a bull flag shaped by the November 30 bar. Though prices broke higher in a bullish continuation formation, there was no follow-through as SNX remains in range. The immediate resistance is at $2.05, marking November highs. Ideally, traders can buy the dip at spot rates if prices are above $1.76. Alternatively, conservative traders can buy once there is a breakout above $2.05 with equal trading volumes as those of November 30. In that case, SNX may float to $2.16 on November 9 and even $2.80 marking November highs. What to Expect from #SNX? SNX remains under pressure and in consolidation. Though the broader crypto market is bottoming up, there must be assurance in the SNX price action before traders commit. For now, prices are inside a bull flag set in motion by November 30 bullish engulfing bar, placing buyers in control in the short term. Resistance level to watch out for: $2.05 Support level to watch out for: $1.76 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
Synthetix Network Token | Easy 111%+ PotentialHere is a pair before the bullish breakout... Synthetix Network Token (SNXUSDT). For this pair, we have a higher low compared to June but still trading below EMA50. Since we've seen how the other altcoins are moving, we know that SNXUSDT will follow, or at least we can make this inferrence from the chart signals. Or we can say this is a setup with low risk (tight stop-loss) and a high potential for reward. Synthetix Network Token can easily grow over 100% on its next bullish wave. There can always be more of course, I am being conservative. Thank you for reading. Namaste.
Long
by MasterAnanda
2
SNX long term outlook This is a long term chart of SNX with a breakout around 1/17-1/30 2023 coinciding with the macro structure of the chart. Looks as though the bearish pattern has played out but there could another sell off as the head and shoulders is debatable on where you measure either it is -80% down or 87% which would be another large sell off in December. Since the Dxy has recently sold off one would think that the crypto market players would notice but it seems that was not the case. This leads me to believe that once the Dxy bounces of this range there will be another sell off only for crypto to rally once that is done i.e the first two weeks of January. Time will tell. This range is about DCA’ing in at lows during sell offs and stacking positions. However the longer term outlook still remains and doesn’t change in my opinion.
COINBASE:SNXUSDLong
by Tony-Stake
2
#Synthetix Buyers Upbeat but SNX Inside a Bear FlagPast Performance of Synthetix Synthetix is inches away from November and 2022 lows. SNX remains under pressure, looking at the performance in the daily chart. Presently, the token is trending inside a bear flag and within the November 8 and 9 bear candlestick. For the uptrend to take shape and SNX bulls to be relieved there must be a close above $1.85 and the flag with decent trading volumes. #Synthetix Technical Analysis SNX prices have support at $1.57, the base of the current bear flag, flashing with November 2022 lows. Unless there is a decisive follow-through, sellers have the upper hand, pushing SNX prices above $1.82 towards November 9 highs at $2.15, the immediate resistance level. A skeptical formation is the absence of participation, thrusting prices to spot rates with higher highs relative to the lower BB. Accordingly, aggressive traders can look to short and swing. Meanwhile, conservative, risk-on traders can wait for clear breakouts before riding the emerging trend. Losses below $1.57 may see SNX dump to $1.42. What to Expect from #SNX? Bulls are buoyant, but SNX remains within a bear formation. The short-term trajectory depends on whether bears will flow back, forcing the token below the triangle; or bulls flowing back, thrusting SNX above the bear flag back to November 9 highs. Resistance level to watch out for: $1.82 Support level to watch out for: $1.57 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer