SNXUSDT trade ideas
SNX/USDT 1H UpdateMarket Cap $2,116,653,547
24 Hour Trading Vol $114,309,742
Fully Diluted Valuation $2,859,320,550
Total Value Locked (TVL) $2,097,098,088
Fully Diluted Valuation / TVL Ratio 1.37
Market Cap / TVL Ratio 1.01
Circulating Supply 172,443,028
Total Supply 232,947,851
Max Supply 232,947,851
SNX/USDT UpdateMarket Cap $2,116,653,547
24 Hour Trading Vol $114,309,742
Fully Diluted Valuation $2,859,320,550
Total Value Locked (TVL) $2,097,098,088
Fully Diluted Valuation / TVL Ratio 1.37
Market Cap / TVL Ratio 1.01
Circulating Supply 172,443,028
Total Supply 232,947,851
Max Supply 232,947,851
Bullish for SNXOne of my favourite DEFI project looks bullish after breaking the resistance at $13. It might retest the resistance again after reaching the 0.5 fib level, which is approximately at $15.5.
But looking at weekly chart, the MACD crosses below, which is but not always bullish. But I do believe is MACD crosses in weekly chart, it signals a bullish move in the price.
I think the price will reach $18. But breaking the red resistant line on the chart, which coincide with the 0.782 fib level, might be slightly more difficult. But crossing that, it will send the price to $25 or even breaking the ATH.
But all depends on BTC if it manages to break the 0.618 fib level at 50K....Hopefully BTC doesn't drag the market down again
Synthetix// What to do?Price is currently at a high area of value for both bears & bulls. Stakers and swing traders...Currently sitting on support and also on the up trend TL.
Price is showing some rejection but the sellers are still in control. Right now the best thing to do would be either wait...OR just so you have exposure, add a small toe hold order and if your bias works out, add more; if it doesnt, close and write it off as a small loss.
I will be waiting for more signs to give me more conviction.
Previous analysis linked.
Trend reversal pattern in Synthetix* Synthetix in Daily time frame forms Double bottom pattern, with it's resistance as neckline near $12.780.
* Double bottom is a trend reversal pattern occurs during the downtrend it appears with two peaks at the bottom.
* If Synthetix breaks it's neckline we can expect a bullish till $16.