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SNXUSDT trade ideas

🔥 SNX Potential Bull Flag Break OutSNX saw some incredible gains during January and February earlier this year. However, since it touched $28, SNX has seen a steady decline in value, hitting -55% from ATH at some point. Since hitting that -55% from ATH, SNX has seen a strong increase in value. Recent price action is strong enough to potentially produce a bull flag break out in the short term. Be aware of the current unpredictability of BTC. If BTC falls, so will SNX. I advise you to wait for a proper confirmation of the break out before entering a trade. Happy trading!
Long
by FieryTrading
21
SNXUSDT #SNXUSD #SNXBTC #SNXETH ://l00king stR0ngshe is looking stronger n stronger. SUSHI as well even AAVE all in all it does look like the market wants to pull back a bit esp with options etc contracts expiring this week. This is when we see over leveraged traders get the BTC that holds their leverage position get wiped out. This is what we called REKT or liquidated when 10x etc and see 5% or more quick dips in markets _the whole account will get closed. Or when u have lots of option contracts all expiring at the same time we will see people trying to get out, sway the market, u name it _ so they can make more, loose less or not get rekt on whatever leverage they into. In short, look for some volatility n buy ops. all in all unless day trading i would more look to buy any dips while not spreading to thin ( scalping is great and easy until its not_ with layer 2 n swaps getn cheaper this will become more n more tempting. Lol for uss smaller kats when we got a few hun position in some alt , its not easy to swap out when it will cost like 30 plus in eth gas fees but with swaps under 1usd on zkswap etc this is now possible again… just be careful _ if u don’t have the time to dedicate I strongly suggest with going with more the investor approach _ ie buying dips n cost averaging in etc with a semi clear plan to take profits down the road_ srry a bit of a ramble there). for us that means bring'n are 30 alt positions down to 20 then 10 then 5 while moving into mostly eth n some btc. the other thing to note is that the BTC dominance chart or BTC.D chart is dropping lower and lower even tho the market as a whole is going up. this means more money is flowing into alts n esp eth then btc at the m0oment. ETH.D chart just re tested a major resistance around 15 to 17% total market dominance while btc is in the lower 40% range. I believe it is time for eth... i just finished going back n forth with this DEV from the ecofi project and they keep changing their mind ie they wanted to start project on binance smart chain or BSC n migrate additional liquidity to eth side n do both or switch back to eth side completely then eco holders wanted to stay on BSC but the dev said there has been some issues. Binance smart chain now makes up 30 plus percent of crypto market cap keep in mind all the wrapped btc n eth etc etc combined with chinese government subsidizing this effort on many fronts mostly stable coins n we have some artaficial or non organic growth but in the end that is still money in crypto market cap. I want to touch on some of my favorite projects and why. ALGOrand is number one for us and should be one of the first alts u buy after u have ur btc n eth bags. This is a non custodial wallet _u control the keys n money and still get to earn crypto apy in algos just for keeping ur algos in the algo wallet. This will help verify network transactions so the apy changes depending on use but look for 15 to 20 plus percent. I WANT TO POINT OUT HOW RARE IT IS TO EARN APY ON TOKENS AND KEEP THEM SELF CUSTODIED _UNDER UR CONTROL N NO ONE ELSES…. BUY ALGO ON EXCHANGE OR WHEREVER SET UP ALGO WALLET THEN SEND ALGOS TO WALLET N UR DONE. Next is ADA or cardano. This guy is a serius ETH n in general if not on the ADA team just pretty much a hater. He looks like wozniake and helped launch n design OG etherum network with Vatilik._ For whatever reasons he left and started cardano. This reminds me of the whole apple Microsoft rivalry. In the end this man n team r well-funded plugged in and wicked smart. There has been more dev or programmer activity via get hub then any other blockchain besides the slave labor lol BSC done in last few months n eth but nonindependent and organic like this. Eth is the king here but we r seeing something long term n possibly special play out with ADA. You can buy ada and send to a Yoroi wallet and stake for 5 plus percent. Next is Celsius. This guy is richer then gods first cousin and hold patents for the swift credit card payment systems the world uses till this day. His moto is “un bank ur self” and is building a very special mentality and ecosystem on his platform. This is where we keep the majority of our eth n btc even usdc earns 10 to 15 percent. If I cant hold it in ur own wallet u control or self custody wallet _ this for us is the next best and safest option. Further down the list and harder to get _ need gate.io or whatever whoever lets u swap n thos of us in usa etc they try n make it tricky_tuff for us to play wit the fun stuff like FTX binnace the list goes on n on trustSWAP_ this guy n team just don’t stop. They love to adapt and build around the ecosystem and community _ ie filling and changing with the needs of the consumer. In crypto as we frantically build out I believe this is a touch that is being forgotten and will come back to hurt many many projects that refuse to adapt or brand or whatever to help with mainstream adoption. (It can be tuff telling my serious finance Wells Fargo Uncle to check out something called “sushi swap” lol srry another tangent smilez) this team revolutionized this space with a project incubator launch platform that aloud early swap suppoters who staked min amount to get into early quality properly veted projects and realize 1000 plus percent gains usually reserved for insiders and the strait up lucky. Before this you had to partner with some exchange to help you launch ur new token and project. Uniswap began and -planted the seeds for this to be possible as people supplied their own liquidity to earn swap fees. (the peoples tokens_money r the exchange_wall street bets get u some_cant wait till u all can wrap ur heads around that uniswap DAO mentality) they then streanghened the idea and platform for their peer to peer swaps (P2P) buy building an eco system and partnering with top ten exchange GATE.io they also just bought an app with 1.5 million current users, they r integrating this to their eceo system this week. Other mainstream n not so main stream projects we watching n hold some r VET ZKS DMST RAMP BLANK MATIC n others like AAVE MKR UNISWAP 1INCH SNX SUSHI BADGER STMX ECOfi (not ECOchain _both have ECO symbols) n others _HGM T3Am
by HustleGrindMomentum
1
SNX waiting for fall and start of a bullish rally!What Is Synthetix (SNX)? Synthetix is a decentralized finance (DeFi) protocol that provides on-chain exposure to a wide variety of crypto and non-crypto assets. The protocol is based on the Ethereum (ETH) blockchain and offers users access to highly liquid synthetic assets (synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset. The platform aims to broaden the cryptocurrency space by introducing non-blockchain assets, providing access to a more robust financial market. Who Are the Founders of Synthetix? The network was launched in September 2017 by Kain Warwick under the name Havven (HAV). About a year later the company rebranded to Synthetix. Kain Warwick is the founder of Synthetix and a non-executive director at the blueshyft retail network. Prior to founding Synthetix, Warwick has worked on several other cryptocurrency projects. He also founded Pouncer, a live auction site exclusive to Australia. Peter McKean, the project’s CEO, has over two decades of experience in software development. He previously worked as a programmer at ICL Fujitsu. Jordan Momtazi, the COO of Synthetix, is a business strategist, market analyst and sales leader with several years of experience in blockchain, cryptocurrency, digital payments and e-commerce systems. Justin J. Moses, the CTO, was the former director of engineering at MongoDB and deputy practice head of engineering at Lab49. He also co-founded Pouncer. What Makes Synthetix Unique? Synthetix is a decentralized exchange (DEX) and a platform for synthetic assets. The protocol is designed in a way that exposes users to the underlying assets via synths, without having to hold the underlying asset. The platform allows users to autonomously trade and exchange synths. It also has a staking pool where holders can stake their SNX tokens and are rewarded with a share of the transaction fees on the Synthetix Exchange. The platform tracks the underlying assets using smart contract price delivery protocols called oracles. Synthetix allows users to trade synths seamlessly, without liquidity/slippage issues. It also eliminates the need for third-party facilitators. SNX tokens are used as collateral for the synthetic assets that are minted. This means that whenever synths are issued, SNX tokens are locked up in a smart contract. Since launch, the protocol has transitioned to the Optimistic Ethereum mainnet to help reduce the gas fees on the network and lower oracle latency. How Many Synthetix (SNX) Coins Are There in Circulation? The maximum supply of SNX is 212,424,133 coins, of which 114,841,533 SNX is in circulation as of February 2021. At the seed round and token sale stages, Synthetix sold more than 60 million tokens and was able to raise $30 million. Of the total 100,000,000 coins issued during the ICO, 20% was allocated to the team and advisors, 3% to bounties and marketing incentives, 5% to partnership incentives and 12% to the foundation. How Is the Synthetix Network Secured? The SNX token is compatible with Ethereum’s ERC20 standard. The Synthetix network is secured through proof-of-stake (PoS) consensus. Synthetix holders stake their SNX and earn returns from the network fees. Another way for SNX stakers to earn rewards is via the protocol’s inflationary monetary policy, known as staking rewards. Analysis Tecnical. If we notice on the 1d chart we are retesting the EMA20, when a cross between the EMA20 and SMA50 we could confirm another bullish rally. As long as EMA20 stays above SMA50. We can also notice 8 bullish patterns broken by a bearish candle pattern that could open an opportunity to test the EMA20 and start another bullish rally. We also note that we are touching resistance at the 38.2% fib retracement. Which suggests that the bears are strong. Personally, I would expect a support at 23% or a test of EMA20 If we notice the RSI indicates a small loss of strength of the bears. Which could indicate a clear Bullish although to be realistic I am not positive, I would expect a retracement of the RSi to 44 or 40 to gain strength and go up trying to break the bearish channel that has been since June 26 The MACD has a free way to go looking for level 3 on its scale, but really it is not having too much strength and there is not a large volume to determine bullish Besides that in BTC pair this sounds pretty good, to go up and touch the resistance and maybe break it! In summary, expect testing of EMA20 and SMA50, or a cross of these, confirms a bullish candle pattern. And you can join the party. My ideal entry is 14-15 usdt. And Stop in 12.
Long
by UnknownUnicorn18500526