SNX
#SNX/USDT#SNX
The price is trading in a large descending triangle and has been gaining bullish momentum recently
Supported by reversal triangle patterns
The price is now in the downtrend breach zone at
the current price of 2.37
With the first goal 3.27
Second goal 4.32
With oversold conditions
During the uptrend there may be some price correction
SNX: Pullback in UptrendTrade setup : Bullish breakout from Channel Down pattern and above $2.27 (200-day moving average) confirmed bullish trend reversal to Uptrend. Price has reached and got rejected 3x at $3.75 resistance and pulled back, which could be an opportunity to get on the Uptrend. The nearest horizontal support areas are $3.40 and $3.00, which also line up with 23.60% and 38.20% Fibonacci Retracement Levels.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance : Nearest Support Zone is $3.40 (previous resistance), then $3.00. The nearest Resistance Zone is $3.75, then $4.40.
🌟📈 SNX Token's Potential Upswing 🚀🔍💥 SNX Breaks Out of Accumulation Box: The Synthetix (SNX) token, in its weekly timeframe, has recently exited its accumulation box, observed in the past two weekly candles. However, the primary uptrend hasn't kicked off yet due to the overall market conditions and resistance from Bitcoin and Total 2.
📊 Range Boundaries Broken: Previously, SNX was trading within a range of $1.850 to $3.206. It has now breached this range, indicating potential for further movement.
📈 Bullish Outlook with Targets: If the market trends upward, SNX could be a lucrative coin in the next bullish wave. The initial target is set at $4.264, but I personally aim for a $7.5 target in my trades.
🔝 Volume Confirmation: The increase in volume during its upward movement confirms the positive trend.
🚦 Caution Advised: Don't rush to buy until clear signs of market movement reappear. A deep correction in Bitcoin could push SNX back into the range box.
🕒 Timeframe for Entry: Utilize 1-day and 4-hour timeframes for better entry points.
⚠️ Stop Loss Tip: Avoid setting a tight stop loss to prevent getting stopped out by minor fluctuations.
🔑 Related Categories:
1.Trend Analysis
2.Support and Resistance
3.Volume Analysis
📣 Share your thoughts on SNX's future! 🌐💬 #SNX #CryptoAnalysis #TradeCityPro
What Is Synthetix (SNX)?
Synthetix is building a decentralized liquidity provisioning protocol that any protocol can tap into for various purposes. Its deep liquidity and low fees serve as a backend for many exciting protocols on both Optimism and Ethereum. Many user-facing protocols in the Synthetix ecosystem, such as Kwenta (Spot and Futures), Lyra (Options), Polynomial (Automated Options), and 1inch & Curve (Atomic Swaps), tap into Synthetix liquidity to power their protocols. Synthetix is built on Optimism and Ethereum mainnet. The Synthetix Network is collateralized by SNX, ETH, and LUSD, enabling the issuance of synthetic assets (Synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset. This pooled collateral enables an array of on-chain, composable financial instruments backed by liquidity from Synthetix. Some of the most exciting upcoming releases from SNX are Perps V2, which hopes to enable low-fee on-chain futures trading through the usage of off-chain oracles, and Synthetix V3, which aims to rebuild the protocol to achieve its earliest goal, being a fully permissionless derivatives protocol.
The platform aims to broaden the cryptocurrency space by introducing non-blockchain assets, providing access to a more robust financial market.
📚 Remember: Financial markets are unpredictable. Always do your research and invest wisely! 🧠💼
SNX ANALYSIS (1D)This symbol appears to be inside a large B wave that has become a triangle. Now at the end of wave d of B is big. If it reaches the specified green range, you can look for buy/long positions
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
SNX/USDT planning bullish move? 👀 🚀 Synthetix Today analysis💎Paradisers, SNXUSDT is currently showcasing a noteworthy pattern, having retested its resistance level and now positioned within a demand zone, indicating a potential for a bullish trajectory.
💎 In the past, Synthetix has adhered to a descending trendline, breaking above it to initiate an ascent and retesting a resistance level. Presently, it finds itself back in a demand zone, and the prospects of it embarking on a bullish path from here are strong.
💎 The immediate target appears to be the resistance at 2.532, with the subsequent aim to overcome the bearish Order Block.
💎 However, should the price of #SNX dip below the demand zone, there's no need for alarm, but it does increase the likelihood of a retest at the support level. It's crucial to approach this with a strategic mindset.
Synthetix (SNX) started growingAfter a long correction, Synthetix started growing!
This chart shows the weekly time frame. So, look for a position daily and go long for the target I showed you in the chart.
Do not forget to put a stop-loss as the stock goes crazy sometimes! :)
Let me know your opinion by pushing like or your comment! :))
Will SNX go up by another 50%?Hello everyone!
Synthetix is another asset that has been trading sideways for a long time. On average, the movement from one side of the trading channel to the other is 50%.
Currently, the asset is in a good buying zone. The RSI indicator also shows that it is oversold.
Targets on the chart.
This is not financial advice, and anything you do is at your own risk.
SNX/USDT Break the key level area. Confirm to continue UP ??💎 SNX has undeniably captured the market's attention with its breakout from the supply area, a feat it has achieved after several attempts. This breakout is typically followed by a retest phase, and it's likely that SNX will enter such a phase at the demand level of $2.53, which previously acted as a supply zone.
💎 There is a strong chance that SNX will rebound from this level, the probability it towards our target supply zones with considerable upward momentum.
💎 However, should SNX fail to hold the demand area during the retest and breach below it, the scenario could turn bearish. The next critical demand level to watch would be $2.175. A bounce from this lower level is essential for SNX to maintain its bullish posture and attempt to reclaim the $2.53 level. Failure to hold the $2.175 level could signal a bearish shift, potentially sending SNX back to its foundational support levels.
SNX/USDT In the crucial Area. It required for Break out or Down💎 SNX has indeed garnered significant attention in the market due to its remarkable uptrend. Having broken out of the descending channel, SNX has demonstrated a substantial upward trajectory post-breakout.
💎 Currently, SNX is in a phase of consolidation within the supply zone, and it faces a critical juncture where it must surpass the resistance level; failing to do so may result in a retracement to the support area to gather momentum for another upward push. Should SNX manage to breach the supply level at $2.56 and sustain a close above it, it would confirm the bullish intent, potentially propelling SNX toward our projected target in the major supply zone.
💎 Conversely, in a less favorable scenario, if SNX retraces to the support zone without showing signs of a bullish rejection or a bounce, it could indicate vulnerability at this level. A breakdown or loss of support could precipitate a return to the strong demand area, signaling a bearish shift in momentum for SNX.
SNX: Resistance BreakoutTrade setup : Bullish breakout from Channel Down pattern and above $2.27 (200-day moving average) signals bullish trend reversal with upside to $2.60.
Pattern : Price was trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.
Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance : Nearest Support Zone is $1.90, then $1.60. The nearest Resistance Zone is $2.60, then $3.05, and $3.40.
SNX/USDT Breakout Alert! Upward Momentum ???💎 SNX has certainly drawn our attention with its breakout from the Descending channel, underscored by significant volume and an impressive upward movement. Presently, SNX finds itself at a pivotal juncture, necessitating a breach of the resistance to maintain its bullish momentum.
💎 Facing potential rejection at this resistance zone, and considering SNX is in a retesting phase on the resistance trendline of the Descending Channel, specifically within the demand range of $2.11 - $2.05, there's a possibility for a slight pullback to solidify the recent expansive gains. Yet, if it triumphs over the immediate resistance, SNX is poised for a smooth climb towards further supply levels and potentially the bearish OB zone.
💎 Amidst this retesting phase, it's crucial for SNX to demonstrate resilience, either by rebounding or showing a rejection pattern, to continue its endeavor to breach the resistance barrier and establish a stronghold above.
💎 Failure to do so could spell trouble, leading SNX to a vulnerable position at the lower demand level, and potentially triggering a further descent towards the critical support area.
SNX Falling wedge SNX created falling wedge on 4hrs TF and is looking to breakout the resistance on the falling wedge…. I will advice you wait for retrace back to the support and take from there to resistance above…. Watch out for breakout.
Follow for more market update
Can chat me up for trade setup
SNX LOOKS BEARISH (12H TF)From where I placed the red arrow, our diamatic seems to have started. We seem to be in wave e now. Wave e looks like a flat pattern. The red range is where we look for sell/short positions. I have specified the targets on the chart. When we reach the first target, save some profit and then change the stop to entry
I also specified the invalidation level, closing 1 daily candle above this level will violate the analysis
Comment if you have any questions
Thank You
SNX Ready For a Potential Correction? Synthetix Analysis 💎Paradisers, focus on SNX/USDT! It's currently oscillating within a defined trading zone and is gearing up for a potential downward shift.
💎If this breakout materializes as anticipated, brace yourselves for a rapid corrective phase.
💎The dual confirmed order blocks on the shorter time frame are worth noticing. These areas are likely landing spots for the SNX, given the liquidity concentrated there.
💎Looking back at historical movements, we observed a shift from demand to supply, leading to a notable decline in Synthetix Price and zeroing in on the prior Order Block (OB).
💎In the fast-paced world of crypto, staying alert and adaptable is of the essence. Keep your charts up-to-date and stay tuned for more insights!
SNX TD SYNNEX Corporation Options Ahead of EarningsAnalyzing the options chain and the chart patterns of SNX TD SYNNEX Corporation prior to the earnings report this week,
I would consider purchasing the 105usd strike price Calls with
an expiration date of 2023-11-17,
for a premium of approximately $2.97.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
SNX/USDT bullish scenario? 👀 🚀 Synthetix Today Analysis💎 Paradisers,heads up! A thrilling opportunity is emerging with #SNXUSDT as it is currently positioned in a demand zone and is gearing up for a bullish trajectory.
💎 After a prolonged period, SNX has regained bullish momentum, steadfastly holding strong support at $1.884. It is highly probable that the price will mitigate above supply, achieving our target -1 in this process.
💎 Upon meticulous examination of Synthetix, we've noticed a previous shift where demand turned into supply, leading to a substantial downward movement in its price. Above, there is a major supply zone, and we anticipate the price will mitigate that level shortly.
💎 If you're contemplating trading, ensure to employ a proper stop loss and trade with prudence. Stay tuned for more insightful analyses!
SNX: Approaching SupportTrade setup : Following a bullish breakout from Channel Down pattern, price reached our target of $3.40 resistance. Price has now pulled back, broke below support at 200-day MA (~$2.40) and reached $2.00 support zone which could be a swing entry, albeit higher risk trade setup since overall trend is still down. That level held up in May and March.
Trend : Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance : Nearest Support Zone is $2.00, then $1.60. The nearest Resistance Zone is $3.05, then $3.40.