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Synthetix

SNX/ETH : Make it or break it!Chart is fairly straight-forward. I rounded up the S&R values to make it easier to reason about. So, what are we looking at? SNX has been in a steady downtrend vs ETH ever since March 2021. We can see somewhat of a fractal forming between the bottoming structure back in Feb-June 2020 and May-present. One important difference, of course, during the previous bull run, SNX was bouncing from the 90-day EMA on daily, whereas now it's acting as resistance. Imo, SNX needs to break up by mid October as triangles usually are less likely to break out favourably the closer they are to the apex. What is the course of action? If you're a more cautious trader, you may want to wait for the diagonal resistance to break to the upside. SNX can be quite explosive, therefore be ready to buy the retest if one is given. For the more aggressive type, it may be time to get yourself into a position with a stop just under 0.003 (-10%) or 0.0028 (-16.5%) and wait for the breakout. This is a risky trade any way you look at it. Downside is considerable at -50% to the first proper support at 0.0015 ETH, not considering the USD devaluation that comes with it. Similarly, USD gains are expected higher. Keep that in mind. Targets TP1: 0.0064 (+91%) TP2: 0.017025 (+220%) TP3: 0.015 (+347%) Best of luck! PS: This is not financial advice.
by SenhorCoconut
SNX VS ETHHere in the chart we have Synthetix against the Etherium Price. As we can see SNX has paid a lot of respect to the 30000 level of Etherium. a hold there has 3x to the 90000 Eth level. If a move above 96000 comes and holds it as support another 3x is then possible at approximately 36000 Eth. If a close below the 30000 Eth level on a monthly chart happens, then a move to 12000 Eth is likely and the next big buy point. I don't expect this but there are no guaranties in investing. The indicators are also showing a bottoming signs and reversal to come. Trading assets for assets is victories to success.
Long
by WeAreSat0shi
SNX long setup fires on bullish retestSynthetics (SNX) has shown the most strength off the recent lows out of almost any other DeFi charts we can find - Big volume coming in after a tag of weekly support - Confirmed bullish market structure on the daily - Pull back into the local reload zone, completing the Wyckoff Check of the breakout point Whatever Bitcoin decides to do here... This is a setup that's hard for us to pass on.. Long and strong. Risking to lows. Hunting a free position, selling half on a double up around the Fib extension/short RLZ
Long
by Randomtask555
SNX 1D Global chart and liquid zones for buy and sellSynthetix is ​​a decentralized finance (DeFi) protocol, the network of which was launched at the end of 2017. However, the price of the SNX token was able to shoot only in 2020, when the hype around DEX exchanges and DeFi projects rose on the crypto market. Now the price of SNXUSDT is approaching the critical level of $12.60 from where a downward correction may begin. An important task for buyers is to keep the price above the $7-7.60 zone . In this case, there will be all conditions for continued growth to $16. If the bulwark of buyers' protection in the $7 region does not withstand the invasion of sellers, then the continuation of the fall to the $4 region will become quite real. However, if you narrow down the chart presented, you will see a long history of trades in the SNXUSD pair. The chart clearly shows that even a theoretically possible price drop to $4 will still look like consolidation in the upper part of the global chart and will not carry anything critical for long-term investors. Short and medium-term speculators need to be vigilant, use stops in trading, and pay special attention to the liquid areas that we have highlighted on the chart. _______________________________ Since 2016, we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
by P_S_trade
37
Synthetix Network Token (SNX) - June 17Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (SNXUSD 1W Chart) It remains to be seen if the price can sustain above the 7.18818242 point. You need to trade cautiously before breaking out of the downtrend line. (1D chart) It remains to be seen if the 7.83712580-9.58486731 zone can find support and move up. The price should remain in the range of 9.58486731-13.08035054 to convert into an uptrend. If it falls from the 7.18818242 point, it may take a long time to rise as it enters the mid- to long-term investment area, so careful trading is required. However, the 4.08924351-5.01566486 section may find strong support and move up along the uptrend line, so you should think about how to respond. ------------------------------------- (SNXBTC 1W chart) It remains to be seen if the 0.0002333-0.0002815 zone can find support and move up. If the price holds above the 0.0002333-0.0002815 range, we expect the uptrend to continue. A full-fledged uptrend is expected to begin only after breaking out of the downtrend line. (1D chart) It is important to have support in the range 0.0002166-0.0002625. To convert into an uptrend, it needs to rise above the 0.0002815 point for support. However, it should break out of the downtrend line to accelerate the uptrend. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** See support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. Explanation of abbreviations displayed in the chart R: A point or section of resistance that requires a response to preserve profits. S-L: Stop Loss point or section S: A point or section where you can buy to make a profit as a support point or section (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
POLONIEX:SNXUSD
by readCrypto
🆓Synthetix (SNX) May-24 #SNX $SNXSNX is recovering from the 12$ zone, and is heading to 18$ and 24$ zone in June. But if it loses this 12$ zone again, it will have a big fall to 10$ or 8$ in early June 📈BUY -Buy: 11.7-12.3$. SL if B 📉SELL -Sell: 17.6-18.4$. SL if A -Sell: 23.5-24.5$. SL if A ♻️BACK-UP -Sell: 11.7-12.3$ if B. SL if A -Buy: 9.7-10.3$ if A. SL if B -Buy: 7.8-8.2$ if A. SL if B ❓Details 🕯Timeframe : 1 Day 📈Red Arrow : Main Direction as BUY and SELL section 📉Blue Arrow : Back-Up Direction as BACK-UP section 🟩Green zone : Support zone as BUY section 🟥Red zone : Resistance zone as SELL section 🅰️A : The Close price of candlestick is Above the zone 🅱️B : The Close price of candlestick is Below the zone
Long
by CryptoStation