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SNXUSDT

#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 AlanSantana
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
SNX LONGBought for 7% of snx deposit Fundamental: A few reasons 1) returned to the zone of interest 2) launch kwenta (exchange) on snx 3) the main thing is that snx restarted atomic swaps integrated into crv, 1inch in the summer it gave an additional commission to stakers and x3 in the price in the summer (for a couple of days) On the technical side, we have a channel with a double bottom. I also marked you on the chart areas of support and resistance. Cancellation of the scenario will fix below $1.42 I expect a trip to the $ 2.72 zone, after which I will update the idea. I'm waiting for your comments on my idea, I'm very interested in your opinion.
Long
by MMJtop
1
SNXUSDTLike a lot of my picks of the 11 coins I am investing in very hard to estimate how far SNX will go as it's never been this low. I assume a 60% crash on most ALTS from here given how these bear markets usually end. 1 INCH and Optimism use their protocol for deep liquidity and they are also going to add non crypto assets to their protocol which is pretty exciting. They also have put an end to their inflationary tokenomics making it a much better investment opportunity. Best to have buy orders all the way down. eg. 30% allocation once it drops 40%. Another 30% if it droops 50% etc. Its essentially reverse price discovery.
by PistolPeteno1
SNX - Accumulate for ALTSEASON ♾Hi Traders, Investors and Speculators 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫 I've been making updates on altcoins that have massive upside potential and good risk to reward rations. These ideas are all spot focused accumulation phase positions, by using the dollar cost average method. SNX is another altcoin with great upside potential. With a modest TP point only halfway from the previous high, the profit would be 520% ! Here's another excellent low risk / high reward setup: _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
17
SNX - Accumulation 🧲 LONG Setup +500% TPHi Traders, Investors and Speculators Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫 I've been Bullish on SNXUSDT for the longest time and I believe we are close to the market bottom - perhaps one more drop. This would be the low volume sell-off according to the Wyckoff Method for the Accumulation phase. In this 4min video, a quick buy setup with a potential +500% target ad take profit point (TP). Interested in my view on BTC? Check out this idea: Have a great weekend 🥂 _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
11