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SNX update: Using Chaikin Money Flow and the Keltner ChannelsFull disclosure: I am long SNX with a current holding of 3,042 tokens held on the Celsius Network. I am currently grandfathered in and still earning 14.05% APY despite the recent SEC ruling inhibiting non-accredited US investors (like me) from earning interest. Libertarian here, so I hate big government. Anyway, recent SNX price action continues to plod in the direction we like. Looking at the CMF (Chaikin money flow- green line below), it appears we are seeing a renewed interest flowing into SNX. Always a good sign. And the Keltner Channels show a robust upward trend. Currently, SNX is staying safely within the upper band of the KC, not overextending above nor dipping below into the lower band. This is VERY bullish action. May it continue. If you like this idea, please feel free to comment or read my other ideas to stay abreast on SNX. -- Garry
BINANCE:SNXUSDLong
by tg-l
SNX big announcement and current price actionFull disclosure: I am long SNX with a current holding of 3,035 tokens held on the Celsius Network. I am currently grandfathered in and still earning 14.05% APY despite the recent SEC ruling inhibiting non-accredited US investors (like me) from earning interest. Damn big government bureaucracies. Here's a recap on SNX price action since yesterday's chart as well as SNX news release on recent upgrades and additions. Price-Action: The last two days of price action have been tough on SNX, but it still remains above its 20-day MA (moving average), meaning we are still within the overall recent bullish trend. If SNX falls significantly further from here, then the 20-day MA becomes another level of resistance on the way back up. Let's hope that doesn't happen. Hopefully, with the recent changes/additions to the Synthetix Network, a rebound will occur sooner rather than later. From the E-News Release: As part of the "Nunki Release...eight new perpetual futures markets were launched onto Synthetix Futures. Not only were Crypto markets added, but commodities such as Gold and Silver were also added. Synthetix is excited to be the first on-chain futures platform to support these exotic markets. The new markets are as follows: SOL, AVAX, MATIC, AAVE, UNI, EUR, GOLD, SILVER." "SOL, AVAX, MATIC, UNI, and AAVE markets will join a growing list of supported cryptocurrencies available for leverage trading through Synthetix Perpetual Futures. These assets have been available for spot trading for a few months now, and Synthetix is excited to allow traders access to leveraged perpetual futures in these markets." "GOLD, SILVER, and EUR will be the first supported commodities and forex markets available for leverage trading through Synthetix Perpetual Futures. There is nowhere else in DeFi where you can trade Gold and Silver futures fully on-chain. Synthetix is the first on-chain protocol to support these exotic markets." "An automated keeper was developed to automatically open and close GOLD, SILVER, and EUR markets when real-world markets open and close. Due to this development, there will be no manual intervention needed from engineers to open and close these markets." To read further details visit their blog (sythetix dot blog dot io) or visit their Kwenta platform to check it out live. Closing thoughts: To me, these are tremendous strides forward and takes SNX to another level. The token is scarce, the platform requires its utility, further enhancing value. And the project is beginning to blossom into full maturity. I know I am biased, but I will say it again... I predict new ATH (all-time highs) by 2023... beyond $30, perhaps $50 to $100 range. My free predictions are always worth every penny. --Garry
BINANCE:SNXUSDLong
by tg-l
3
SNX What do I see?Full disclosure: I am long SNX with a current holding of 3,035 tokens held on the Celsius Network. I am currently grandfathered in and still earning 14.05% APY despite the recent SEC ruling inhibiting non-accredited US investors (like me) from earning interest. Damn those big government bureaucracies. On to what I am focusing on with today's SNX chart. SNX is currently making new higher lows and higher highs. That makes for a favorable uptrend. It is also creating a narrowing wedge which could see a breakout...hopefully also to the upside. It now appears that we put in a clearly defined bottom as witnessed by the bowl shape. This has all the earmarks of a growing uptrend. And when we look at the Keltner Channels, today's pullback actually keeps us safely in the upper bullish channel or band of the KC without overstepping above it where a more serious correction becomes more likely. This all looks very healthy and bullish to me. Outlook: Until I see SNX hit and break across the upper line somewhere in the $8-plus range, I won't be comfortable saying this is the bull we are looking for. Again, fingers crossed. Long-term price action prediction? A new ATH (All-time high) by 2023. Of course, predictions are free and worth every penny. -- Garry
COINBASE:SNXUSDLong
by tg-l
SNX Looking quite bullishFull disclosure: I am long SNX with a current holding of 3,035 tokens held on the Celsius Network. I am grandfathered in and still earning 14.05% APY despite the recent SEC ruling inhibiting non-accredited investors (like me) from earning interest. Always screwing the little gals & guys in the name of "protecting us." Thank you, big government bureaucracies... for nothing. Anyway, on to today's look at SNX using the Keltner Channels... SNX is mounting it's second day in the upper band of the KCs. This is a very good sign. If SNX can stay within this bullish channel and not overextend (outside of the Keltner Channels), we could ride this trend back toward its ATH (All Time Highs). Outlook: Even though there should be little correlation between BTC, ETH, Technology Stocks, and Alt-Coins (including our SNX project/platform), it does currently exist. Even though these things will eventually become disjointed/disconnected in price-action as they should be, until then, if BTC takes a severe tumble, we can expect SNX to do so to the extreme. Conversely, if BTC continues to plod upward, we can expect extremely bullish price-action in SNX. Fingers crossed for the extremely bullish action. ;) --Garry
BINANCE:SNXUSDLong
by tg-l
SNX May be breaking to the bullish side of the Keltner ChannelFull disclosure: I am long SNX with a current holding of 3,035 tokens held on the Celsius Network. I am grandfathered in and still earning 14.05% APY despite the recent SEC ruling inhibiting non-accredited investors (like me) from earning interest. Always screwing the little gals & guys in the name of "protecting us." Thank you, big government bureaucracies... for nothing. Anyway... It looks like SNX is trying to break into the "bullish" side of the Keltner Channel (See yellow circle). If SNX can maintain in the upper band, this will be a very strong signal of future bullish price-action. --Garry
BINANCE:SNXUSDLong
by tg-l
3
SNX Still Strong But Outside Upper Keltner Utilizing the Keltner Channels, we can see SNX got a little too far out over its skis. I put an orange circle around where the SNX price action stepped outside of the upper Keltner Channel. I knew it couldn't last forever, but I was hoping for a little softer re-entry. Meanwhile, all is still well. The median-line projected shows that SNX will still be in the upper strong side of the channel so long as it bounces before we get to that $6.36 mark. If we slide to the lower side of the channel, that could be a negative trend. We (long-term holders of SNX) don't want that. Bottom line: I am looking for SNX to bounce before we hit the median line. I expect continued positive price action going forward. If you like this idea, please read my other ideas or comment below. Thanks! -Garry
COINBASE:SNXUSDLong
by tg-l
SNX.Usdt (Y22.P1.E1).Wyckoff SOS stageHi All, #SNX #SYNTHETIX Our group has been trading this on and off. I wish I looked at it with the eyes of the wyckoff stages back then, to be more confident in the trade. Have only spot trade now. If you note how it aligns with the Wyckoff stages pretty well. The targets are another discussion and we will cover that in our group. Right now the DAILY RSI is over extended and it won't surprise me for a pullback soon. Hence the ideal area to by is as shows. All the best, S.SAri
Long
by ssari
SNX Today's bullish chart and useless predictionsFull disclosure: I am a long-term HODLer of compounding Synthetix Network Tokens (SNX). I firmly believe in the project and platform which is making an ever-increasing number of assets (crypto, FOREX, Commodities, Stocks, etc) available for decentralized trade (derivatives, futures, shorts, etc) without the traditional barriers and gatekeepers. With lower fees, greater yield opportunities, built-in token utility and token scarcity, it is hard not to be excited. Now, for what I see in chart-land and my useless prediction. I see $7.50 acting as support. If SNX can hold, there is relatively little historical retracement resistance until we approach $12. I do expect SNX to set new ATH (All-time-high) fairly soon, but we might see a pull pack if SNX screams too quickly toward the next resistance around $12. So, did I really predict anything you can't read in the chart. No. Useless prediction? Maybe...but I might be the voice in the dark you needed to hear to keep hodling or buying. Be sure to check my other published ideas on SNX to get caught up (or to read how I add almost 8 SNX tokens per week without staking or lifting a finger). If you have any questions or comments, please share. Thanks!--Garry
BINANCE:SNXUSDLong
by tg-l
SNX: Breakout above $7.50 could see doubling to next resistanceDisclosure: I am a long-view SNX HODLer. This is not financial advice. This is simply my opinion and how I apply it to my own assets. 1 April 2022- My views on the current bullish SNX action: As SNX has blasted more than 100% up from its recent lows, it has now established $7 as its potential support level and it is nearing the next SUPER IMPORTANT resistance level at $7.50. Volume has been good, ever increasing. The project and platform finally has firm footing, momentum and is firing on all cylinders. And if SNX rises above this $7.50 level, I see the next major resistance as double from here! DOUBLE! 100% from here! Take a look at the chart. If you like this idea, please check out my other ideas on SNX for more information on the token, the project and how to earn high APY on SNX the easy way.
BINANCE:SNXUSDLong
by tg-l
SNX BREAKOUT; $6 surpassed! Will it act as support? I think so!Full disclosure: I am a HODLer of the Synthetix Network Token (SNX). I transferred over 2700 tokens to Celsius Network on 31 July 2021 where I was receiving 13.99% APY at the time. They have since increased the yield to 14.05% APY, paying out every Monday like clockwork. Trade View will not allow me to advertise my referral code for Celsius here, but I do have one if you message me. Now, for what has me so excited about today's chart. We just broke through $6. If SNX can hold above that level perhaps even retesting it as support, I think we may see SNX take off. I added the "auto pitchfork" visual to give you an idea of what I hope to see happen. This derivatives project is sound, the token is necassary to conduct business on its platform and the token has scarcity on its side that lends to an upside of somewhere in the $50 to $100 per token range... if the inflated dollar doesn't continue to crash from here. If the USD does continue to collapse, it will further enhance crypto price action in our favor as people seek other sectors (crypto) to store value. Sidenote: I now have over 3012 SNX tokens thanks to the power of compounding at Celsius Network. I don't have to hassle with swap defi platforms, high ETH gas-fees, or delegating, validating or staking in general. I just watch it grow every Monday. If you wish to do the same with your SNX (or 40-plus other cryptos), we can both earn $50 worth of BTC when you open an account using my referral code and move $400 worth of crytpo to Celsius and hold for 30 days. And you will have your own referral code you can share with your friends once you have an account.
BINANCE:SNXUSDLong
by tg-l
SNX Trade synthetic assets with 10x leverage- Perpetual FuturesToday, 21 March 2022 Synthetix Network emailed out the following notification to followers of the project: "Perpetual Futures Launch" "It's been almost two years in the making, but our synthetic perpetual futures have finally launched. Now anyone with access to the internet can trade synthetic assets with 10x leverage. Want to trade? Head over to Kwenta's dedicated trading UI to access the beta version." "Benefits of Perpetual Futures: - Leverage - Short Exposure - Hedging - No expiration (unlike traditional futures)" "Kwenta Perpetual Futures, powered by Synthetix, is the perfect trading protocol that offers low fees, deep liquidity, and complete decentralization (no sign-up required!)." "Synthetix's perpetual futures enable a much expanded and capital-efficient trading experience by allowing leveraged longs and shorts on a large selection of assets. SNX Stakers get an additional revenue stream in a market that is untapped – no one in the perpetual futures industry has ever shared this revenue with their community." If you are interested in the Synthetix project whether for trading in derivatives, futures, for staking or any other reason, you can gain a more detailed perspective by reading about these updates at blog dot synthetix dot io. Full disclosure: I am long SNX since purchasing at the end of July 2021. I hold my tokens on the Celsius Network and earn 14.05% APR without the hazards of staking or trading. I am a long-term HODLer. I see SNX eclipsing its ATH (all time high set in May 2021) by the end of 2022 or early 2023. If you like this idea, read my other ideas. If you have questions about earning from HODLing, I have a referral code that will earn us both fifty dollars' worth of BTC if your transfer at least $400 worth of assets to Celsius. Just ask me.--Garry
BINANCE:SNXUSDLong
by tg-l