Synthetix: another 10x bagger digital asset (short-term view)Synthetix appears to have completed an expanding diagonal for a primary wave 1 and is now correcting in the shape of a zig-zag for its primary wave 2. I added the range where I think the price could fall before resuming its bull market. The long-term view is extremely bullish so have to keep that in mind.
SNX
SNX 1D Global chart and liquid zones for buy and sellSynthetix is a decentralized finance (DeFi) protocol, the network of which was launched at the end of 2017.
However, the price of the SNX token was able to shoot only in 2020, when the hype around DEX exchanges and DeFi projects rose on the crypto market.
Now the price of SNXUSDT is approaching the critical level of $12.60 from where a downward correction may begin.
An important task for buyers is to keep the price above the $7-7.60 zone . In this case, there will be all conditions for continued growth to $16.
If the bulwark of buyers' protection in the $7 region does not withstand the invasion of sellers, then the continuation of the fall to the $4 region will become quite real.
However, if you narrow down the chart presented, you will see a long history of trades in the SNXUSD pair. The chart clearly shows that even a theoretically possible price drop to $4 will still look like consolidation in the upper part of the global chart and will not carry anything critical for long-term investors.
Short and medium-term speculators need to be vigilant, use stops in trading, and pay special attention to the liquid areas that we have highlighted on the chart.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
Synthetix Probably Started The Third WaveWelcome! SNXUSDT has been showing good growth dynamics in recent days. This growth is probably part of the nascent wave (3). To be completely sure that we are facing wave (3), the price needs to break through the corrective channel and gain a foothold above $28.81.
The third wave usually extends, so I expect to see it again this time with a rapid growth during the year.
Perhaps the time is coming for synthetic assets in the crypto space.
SNX Bullish divergence on RSI vs ETHThis trade alert has a potential of a 3,4,5 or up to 6x versus Ethereum. We are seeing a bullish divergence starting to playout on the RSI and a possible break out is due.
Resistance and support are shown and can also be take profit zones as well.
Thank you for looking.
SNX to 10.387Hello Guys,
SNS wrote off 81% from 15th December. Since that day snx had the same volume as the day before when BTC hits ALL TIME HIGH.
SNX have been at this place with the strong support volume on days about 15th December.
When BTC going up to 38850 - SNX probably hit target around 10.389
SNX/USDT - Long term 240% targetHello, traders!
The price of SNX is at the upper bound of the range of $5.44 - $8.34, which was the beginning of the previous business cycle.
Therefore, in this range, we can expect the beginning of a new one.
The price range of $5.44 - $6.55 will be [ptimal for the purchases, where you can get a more favorable entry point for a long-term deal.
Stop-loss can be placed under the price at $4.32
Objectives for purchase are levels
$11,50
$13.50
$16,39
$22,30
Good luck and watch out for the market.
P.S. This is an educational analysis that shall not be considered as financial advice
🆓Synthetix (SNX) May-24 #SNX $SNXSNX is recovering from the 12$ zone, and is heading to 18$ and 24$ zone in June. But if it loses this 12$ zone again, it will have a big fall to 10$ or 8$ in early June
📈BUY
-Buy: 11.7-12.3$. SL if B
📉SELL
-Sell: 17.6-18.4$. SL if A
-Sell: 23.5-24.5$. SL if A
♻️BACK-UP
-Sell: 11.7-12.3$ if B. SL if A
-Buy: 9.7-10.3$ if A. SL if B
-Buy: 7.8-8.2$ if A. SL if B
❓Details
🕯Timeframe : 1 Day
📈Red Arrow : Main Direction as BUY and SELL section
📉Blue Arrow : Back-Up Direction as BACK-UP section
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
🅰️A : The Close price of candlestick is Above the zone
🅱️B : The Close price of candlestick is Below the zone
IF U ASKED ME ... SNX IS THE STRONGEST RIGHT NOW !look on the week candle how it bounced back up. 63% up !!
despite all of the bearish corrections we got, it managed to go up again.
we r looking for a weekly close above the first support.
if first support were broken I will buy on the second one a small bag there.
if we hadn't broke any support we will test $28 resistance straight way.
DONT LEVERAGE OR OPEN FUTURE !!
Synthetix Network Token SNXBTC 💪I may have come late to the party as so many have been shilling SNX last week. But I am here after a confirmation of both high volume, and a breakout on the 3d 50 EMA chart.
My entry is marked in blue.
And my conservative target is set in green.
I know a longer timeframe marks 100% gains, but at this stage of BTC drama I'd rather be extra cautious. What is yours?