SNX doesn't show signs of weaknessSynthetix is not showing any kind of weakness, so we could expect it to start retracing in rectangle box i drawed starting from 5.00 price zone
SNXUSD
SNX - 3.723 - 4.40 - 5.5 BULLISH!Hello guys. Hive a nice day.
Today we will talk about token SNX. I think its good token for invest in short term with high profitability.
We hit first target but we have two more.
1)3.723 - Done✅
2)4.440 - Waiting 🕘
3)5.5 - Waiting 🕘
Have a nice day.
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 / SNXUSDTGood Luck >>
• Warning •
Any deal I share does not mean that I am forcing you to enter into it, you enter in with your full risk, because I'll not gain any profits with you in the end.
The risk management of the position must comply with the stop loss.
(I am not sharing financial or investment advice, you should do your own research for your money.)
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 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.
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Can chat me up for trade setup
SNXUSD ❕ descending triangleTrading volumes remain stable.
The asset confirmed the support level several times.
I think the price will reverse from the current level.
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
Synthetix / US Dollar (SNX/USDT) Token Analysis 11/09/2023Fundamental Analysis:
Synthetix is in the process of constructing a decentralized liquidity provisioning protocol accessible for various purposes by any protocol. Its substantial liquidity and minimal fees act as the infrastructure for numerous exciting protocols on both the Optimism and Ethereum networks. A multitude of user-facing protocols within the Synthetix ecosystem, such as Kwenta (Spot and Futures), Lyra (Options), Polynomial (Automated Options), as well as 1inch & Curve (Atomic Swaps), harness Synthetix liquidity to empower their functionalities.
Synthetix is developed on the Optimism and Ethereum mainnet platforms. The Synthetix Network is secured by collateral in the form of SNX, ETH, and LUSD, enabling the creation of synthetic assets known as Synths. These Synths mimic and generate returns based on underlying assets without necessitating direct possession of the assets themselves. This pooled collateralization paves the way for a variety of on-chain, composable financial instruments supported by liquidity sourced from Synthetix.
Some of the most highly anticipated forthcoming releases from SNX include Perps V2, which seeks to enable cost-effective on-chain futures trading by leveraging off-chain oracles, and Synthetix V3, designed to rebuild the protocol in line with its original objective of becoming a fully permissionless derivatives protocol. You can find more information about Synthetix on their blog or by joining the SNX Discord community.
The platform's mission is to expand the cryptocurrency realm by introducing non-blockchain assets, thereby granting access to a more expansive and robust financial market.
Synthetix operates as a decentralized exchange (DEX) and serves as a platform for synthetic assets. Its architecture is designed to provide users with exposure to underlying assets through synths, eliminating the need to hold the actual assets themselves.
This platform empowers users to autonomously trade and exchange synths, while also offering a staking pool where SNX token holders can stake their tokens and receive rewards in the form of a share of transaction fees from the Synthetix Exchange.
To track the underlying assets, Synthetix employs smart contract price delivery protocols known as oracles. This approach ensures that users can seamlessly trade synths without encountering liquidity or slippage issues, and it eliminates the requirement for third-party intermediaries.
SNX tokens play a crucial role as collateral for the minting of synthetic assets. Whenever synths are generated, SNX tokens are locked up within a smart contract.
Since its inception, the protocol has transitioned to the Optimistic Ethereum mainnet to mitigate gas fees on the network and reduce oracle latency.
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.
The maximum supply of SNX is 323,506,696 coins, of which 269,871,212 SNX is in circulation as of September 2023.
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.
The network was initially launched in September 2017 by Kain Warwick under the name Havven (HAV). Approximately a year later, the company underwent a rebranding, adopting the name Synthetix.
Kain Warwick, the founder of Synthetix, also holds a position as a non-executive director at the blueshyft retail network. Before establishing Synthetix, Warwick had been involved in various other cryptocurrency projects. Additionally, he is the founder of Pouncer, a live auction site exclusive to Australia.
Peter McKean, serving as the project's CEO, boasts over two decades of experience in software development. Prior to his role at Synthetix, he worked as a programmer at ICL Fujitsu.
Jordan Momtazi, the COO of Synthetix, brings to the team his expertise as a business strategist, market analyst, and sales leader, with a wealth of experience in blockchain, cryptocurrency, digital payments, and e-commerce systems.
Justin J. Moses, the CTO, formerly held the position of director of engineering at MongoDB and served as the deputy practice head of engineering at Lab49. He also co-founded Pouncer.
Technical Analysis:
As we observe, the price has experienced a decline from its all-time high (ATH) of $29 and is currently fluctuating within the Fibonacci retracement levels of 88.6% and 95%. Within this range, there are two noteworthy price support zones at $0.8 and $0.3.
We have identified three potential price targets:
First Target Price (1TP): $28.8
Second Target Price (2TP): $36.5
Third Target Price (3TP): $46.5
Furthermore, we can regard the major Fibonacci retracement levels as potential resistance levels, which we have indicated on the chart.
Sentiment Analysis:
Considering the possibility of depreciation in the total market capitalization of cryptocurrencies and the price of Bitcoin (BTC) in the upcoming months, it is reasonable to consider employing a Dollar Cost Averaging (DCA) strategy for long positions at the specified support levels.
SNX ANALYSIS (4H TF)After hitting the red box above, which is an order block, it was rejected towards the bottom.
I have marked another red box below, which is the new place to open sell/short positions.
From the lower red box, we can move towards the targets to complete the waves.
I also specified the invalidation level
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
SNXUSD hit both the 1D MA50 and MA200. Bullish or bearish?Synthetix (SNXUSD) is testing today both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) following a 6 day rise after a -42.20% decline from the July 14 High. Such a decline was last seen on the May 12 low, where the price rebounded like now but failed to close above the Resistance of the previous Lower High and dropped more to touch the Higher Lows trend-line (bottom) of the 1-year Triangle pattern.
As a result we are buying short-term but our target is limited to the 2.6500 Resistance. If it closes a 1D candle above it, we will extend buying to 3.1300 (Resistance 1). If the price closes a 1D candle below the 0.618 Fib (which didn't happen during the June rebound), then we will wait for a lower risk buy near the Higher Lows trend-line again (targets will remain the same).
Note that, as with now, there has been a MACD Bullish Cross on both May's and June's price increases.
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SNXUSDTBINANCE:SNXUSDT SHORT
⚠️Note:
In this type of signals, only the entry point and trade direction are specified, and stop loss and target are not determined.
If you are interested in entering these signals, please provide a stop loss and a logical market-based target.
⛔"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help.#DYOR"
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SNXUSD ❕ inverted hammerOn 4H price formed an inverted hammer.
The chart has fixed under the 50EMA on 4H TF.
RSI is moving in the sellers zone.
I think that SNX will continue to decline.
Synthetix Network token SNX price starts a difficult upward moveRecently, SNXUSDT price has finally managed to break out of a prolonged downtrend.
We assume that the current local price consolidation outside of the downtrend is coming to an end. And the SNX price may have quite a bit of growth ahead.
Take profit 1 - $3.55 (+25%)
Take profit 2 - $3.85 (+35%)
Take profit 3 - $4.40 (+55%)
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SNXUSD: Bullish but approaching a Resistance. Trade breakout or SNXUSD is haveing the strongest two week streak since July 25th 2022, whose High formed R2 (4.4450). The R/R in buying that deep into the bullish wave is not favorable as despite the R1 at 3.3900, the price has the 1W MA200 as its main Resistance, which has not allowed weekly candle closings above it for 11 months (since August 15th 2022).
Consequently with the 1D time-frame highly overbought (RSI = 76.564, MACD = 0.230, ADX = 34.978), we will wait for a buy either after a pullback to the 1D MA50 or after a 1W candle closes over the 1W MA200. Either way, our long term target is the R2 (TP = 4.4450).
Keep in mind that the bullish trend on the long term is favored as the 1W MACD completed a Bullish Cross last week, under the 0.00 level, which shows significant upside potential.
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SNXUSDTGood time friends, we are at your service with another analysis, this time #snx
⚡️ with 150% growth probability
We have provided you with the daily chart of this index; The pattern you see in the chart is called "Diagonal Reverse Header". This pattern is one of the strongest bullish patterns.
The yellow line also shows the possible movement and temporary corrections of this index.
You can see that the collar of this pattern is broken and it is a signal for buyers. Risk-taking people can enter the purchase now, and low-risk people can also wait for a pullback on the collar of this pattern.
The loss limit of this transaction is 2.47
Maximum profit 8.1
Risk to return 8
⚠️ Note that this transaction and analysis is intended for spot.
Be successful and profitable
Safe entry after defeating the blue boxConsidering that this currency has come out of its downward channel, the possibility of a growth of up to 34% for this currency is not far from expected, but the condition for entering a long position is to break the resistance range in the blue box.
But if we do not see a positive reaction to break this range, it is possible to return to the support price which is 17% lower.
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SNX Short 2.5RRThe price tested the strong resistance in the 2.8 range. Got rejected. The volume traded began to decrease. I am expecting the price to decrease to 2.4 level
SNXUSD Gave a major break out buy signalSynthetix / SNXUSD crossed today over not just the 4 month Channel Down but also the 1 year Falling Resistance (since the July 28th 2022 High) and the 1day MA200.
That is the strongest break out buy signal we could get on the medium term as despite stopping at Resistance A, it is repeating the rise of January, which after getting the 1day RSI overbought, it formed a Channel Up and peaked near the 1.5 Fibonacci level.
Buy now and target the new 1.5 Fibonacci at 3.70000.
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SNX Synthetix Triple BottomSNX (Synthetix) has recently formed a triple bottom pattern, indicating a potential bullish reversal in the near term. The triple bottom pattern is characterized by three successive lows at approximately the same level, followed by a potential breakout to the upside. This pattern often signifies a strong support level and can foreshadow a price rally.
Considering the formation of the triple bottom pattern, SNX may be poised for a potential price target of $2.40. This target represents the potential upside that could be achieved if the pattern plays out as anticipated.
Looking forward to read your opinion about it!
SNXUSD at the top of the 3 month Channel Down.SNXUSD hit today a triple Resistance Zone, the top of its 3 month Channel Down, the MA100 and the MA200 (1d).
Until the price closes over the Channel Down, the trend remains bearish.
Trading Plan:
1. Sell on the current market price.
2. Buy above Resistance (1).
Targets:
1. 2.000 (Rising Support).
2. 3.000 (Resistance 2).
Tips:
1. The RSI (1d) hit its Rising Resistance. If broken it will be a first sign that the Channel Down may break upwards. Also this is a bullish divergence as it is the opposite of the Falling Resistance of the Channel Down.
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