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SNXBTC

Synthetix Network Token (SNX) - March 24Hello? Dear traders, nice to meet you. By "following" you can always get new information quickly. Please also click "Like". Have a good day. -------------------------------------------------- ----- We have to see if we can get support and climb at 16.809. As such, we need to see if there is any movement to move sideways at 16.809 or break off the downtrend line. If you go down at 16.809, you can touch 13.222, so you need a Stop Loss to preserve profit or loss. In order to turn to the uptrend line, it must rise to the 20.397-21.592 section and receive support. As the OBV on the volume indicator increases green, it remains to be seen if the center line can rise. It remains to be seen if the CCI line can rise above 100 on the CCI-RC indicator. --------------------------------------- (SNXBTC 1D chart) We need to see if it can rise along the uptrend line (1). In particular, it remains to be seen if the volatility around March 26 could increase more than 3280 Satoshi. In order to turn to an uptrend, you must get off the downtrend line. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for the sake of convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the conventional stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closing price when closed G2: Cigar at the time of opening (Example) Gap (G1-G2)
by readCrypto
Synthetix Network Token (SNX) - March 18Hello? Dear traders, nice to meet you. By "following" you can always get new information quickly. Please also click "Like". Have a good day. -------------------------------------------------- ----- You should watch for any movement that deviates from the 16.809-20.397 section. It remains to be seen if the volatility around March 23rd (March 22-24) increases above 20.397 points and breaks the downtrend line. If you go down at 16.809, you can touch 13.222, so you need a Stop Loss to preserve profit or loss. In order to turn to an uptrend, it needs to be supported in the 20.397-21.592 range. ----------------------------------------- (SNXBTC 1D chart) You should see if you can climb along the uptrend line (1) and climb above the 0.0003403 point. In particular, it remains to be seen if it can deviate from the downtrend lines (3) and (4). -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to know that the indicator moves accordingly with the movement of price and volume. Just for the sake of convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the conventional stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closing price when closed G2: Cigar at the time of opening (Example) Gap (G1-G2)
by readCrypto
1
SNXUSDT (SYNTHETIX NETWORK TOKEN) - POTENTIAL BREAKOUT ANALYSIS 🔎 - SNXUSDT was bounded in the falling wedge (FW) pattern. - A falling wedge pattern is a reversal pattern. - A bullish pattern to be precise. - Price brokeout above the falling wedge's resistance. - The market is consolidating in a rectangular pattern. - This rectangular pattern consolidation is known as the accumulation phase (wyckoff method). - The accumulation phase is a pre uptrend phase (bullish build up). BUY ENTRY ⬆️ - Breakout above the accumulation phase horizontal resistance level. TARGETS 🎯 - Horizontal resistance level (R1). - Horizontal resistance level (R2). - Horizontal resistance level (R3). SETUP INVALIDATION ❌ - Breakdown below the accumulation phase horizontal support level. - This breakdown invalidation will probably lead to the retest of the falling wedge's support.
Long
by Chibuike_Odoh
1
SNXUSDTIt's been 20 hours that SNX is getting rejected by that resistance. (As shown on chart) The middle Bollinger Band is rising to give a Dynamic Support to the price which might push it up to the TP1 and TP2. There's also a Static Support which I've pointed out on the chart, that can be a good push up for the price as well. If none of these supports can hold the price up or push it up, the price can fall to 20 areas or even less. Tell me your ideas. Like and Share 🗣✅ Comment if you need a chart 💬
by ShawnMCR
2
SNX Fast ScalpBuy Zones : - 24$ (Now) - 20% of your capital invest for this trade ----------------------------------------------------- Rebuy Zones : - Rebuy 22$ - 30% of your capital invest for this trade - Rebuy 20$ - 50% of your capital invest for this trade ----------------------------------------------------- Sell Zones : TP1 = 28 ATH TP2 = 32 TP3 = 38 ---------------------------------------------------- Stop : SL : 29.4 ---------------------------------------------------- Happy Tr4Ding !
KRAKEN:SNXUSDLong
by thecryer
21
$SNX/BTC 90m (Binance Spot) Falling wedge breakoutSynthetix Network broke bullish of that falling wedge, the idea is to catch it on a possible pull-back. Also, 100EMA seems to be acting as support now, that's why entry zone is down there! Current Price= 0.0004010 Buy Entry= 0.0003915 - 0.0003813 Take Profit= 0.0004074 | 0.0004341 | 0.0004540 Stop Loss= 0.0003653 Risk/Reward= 1:1 | 1:2.26 | 1:3.2 Expected Profit= +5.43% | +12.34% | +17.49% Possible Loss= -5.46% Fib. Retracement= 0.382 | 0.618 | 0.786 Margin Leverage= 1x Estimated Gain-time= 120h
Long
by TradingOn
2
$SNX Synthetix Quick Analysis Overview ( @synthetix_io )Hello there ladies and gentlemen, BulloTaurus here with a quick analysis for today . Synthetix is the backbone for derivatives trading in DeFi, allowing anyone, anywhere to gain on-chain exposure to a vast range of assets. We have various clues that BINANCE:SNXBTC can go higher by breaking the rising wedge on daily timeframe. Thing that make me bullish is the VPVR indicator, it shows a lot of trading volume on the level we are now, it usually means that it might act as support or resistance in long-term vision. Trade altcoins wisely in this period, because one strong move by Bitcoin you can lose 10-20% of your position, so always use stop loss to avoid that happening. Peace. 🍌 Please read the description 1-2 times including the Disclaimer before commenting 🍌 P.S. You're awesome! You can't be successful in all your trades, 30-40% is already higher than average traders you see!
Long
by BulloTaurus
SNX BullishEasier to read on my blog at medium ideabuds.medium.com As you can see Synthetix does have a long history of out performing BTC (green line) even in BTC breakout year of 2017, albeit that was when Synthetix was brand new and super tiny vs. after it has attained its high market cap rank. It has established a higher high, higher low trend vs. both BTC and ETH. Most notably, news maybe driving this recent push. An article was published on a high price target (Over $1000 per SNX) which is why the token’s sentiment is now in full gear. That and I believe because in the environment we are in (BTC breaks above ATH) speculators want to use SNX to make shorts and hedges and leveraged positions, so the user demand not speculation demand is up on SNX as well. SNX allows the token holder to establish the 500% collateralized debt position to create leverage which the trader then uses to buy more BTC ETH (as they can at MKR or COMP but the SNX exchange allows users to speculate on whatever under the sun they want whereas COMP, AAVE, and MKR et al do not). Here is another major aspect of why SNX and UMA among other future competitors in the derivatives space may go to the moon more than BTC or ETH. Image for post Now a few words on why all stocks are ETH or why BTC is limited to Gold etc.? That is not really how I see this unfolding its just to make a point. ETH is more speculative than BTC like stocks are more speculative than gold (in a sense). Gold (unleveraged) is the traditional store of value, while ETH is more like a stock play on decentralized finance and crypto currency and the evolution of the entire space). So no I don’t think currently ETH has a capture on all Stock → Crypto flows, just making a general analogy. I believe capital flows will initially flow into BTC and ETH and BTC will remain the dominant crypto market cap until ETH perhaps takes over in the next 5 years as DeFi develops? Timing this is difficult right now. I don’t know when ETH will take over, but I do think BTC will need to stabilize in price and cease to give investors huge gains in order to incentivize risk taking into ETH / Alts. But that could be wrong perhaps ETH staking rewards which are now in effect is the turning point for ETH becoming the dominant currency in crypto? I believe most money will flock to Bitcoin until we see wide adoption of BTC as a “reasonable” investment in the main stream though, and until then investors will think being cautious and not investing in alts is a “wise” thing to do. New entrants into crypto are what make markets rise, and so I believe new money will mostly come to BTC. The question is is will old money stay in BTC or will it jump into ETH & Alts as new money takes the BTC at high prices from them? If this waterfall is 1 to 1 BTC plateaus and ETH sky rockets? To answer that we must look at stock to flows, and TVL vs market cap for coins gaining large shares of market cap and apply some micro coin economics to forecast the beta of various Alts. How much supply is left on the exchange? What is the flow from BTC to a composite of Alts? BTC dominance relative to money flows is going to be a key indicator and we will need to chart that trend and look at resultant betas. Perhaps the best way is to simply chart Alt/BTC and Alt/ETH, and use a composite of DeFi coins index as the Alt and then use actual technical analysis rather than adding up supply numbers. That is what I’ve done above, and I think until the math is easy and data is available it is what I have to go by. Let’s consider the medium run future where crypto is accepted as legitimate and not idiotic, but perhaps not fully adopted in an “all fiat goes to zero” scenario - you still have dinosaur boomers conducting business / trading on CME futures exchanges. What does that look like? Why does a futures trader leave the CME group and come to synthetix.exchange? What will that experience be like for him? Won’t it be similar to learning how to use email and pay bills online instead of writing checks? How will he learn it? Reading whitepapers and really being comfortable will take time. This is a much deeper and more realistic view of how to view the evolution. That being said, if pricing trends are already being shown in the market we are in the adoption curve in a place where we can make money on it, its not a wait for people to find it kind of a play. It’s here. It’s now. BTC ETH and SNX will all do well I believe as investments but the extent SNX is able to really establish and maintain long-term upward trend lies in its ability to create a moat and not lose market share to competing derivative exchanges / coins. It must allow users (traders) the ability to do something they just can’t do on other crypto exchanges and both it and its competitors must be able to offer something the boomer cant do on traditional exchanges. I think there is potential for that, but I don’t totally understand SNX yet to say if it does that currently or not. To me, it’s just an idea and a narrative that the market is buying, but let’s go with it and research it as it rises. What I do see is the market is recognizing it as an asset they want to bet on likely because they see it as the beginning of a new bull market for DeFi as supported by it’s the leader to fully recover from the September Defi bubble pop, even stronger than Chain Link, which has not fully recovered ($12.50 from a peak at $20). This is starting to seem like SNX may be THE story as Chain Link used to be, which is exactly why it’s important to perhaps not hodl long-term positions in alts, but to make sure you capture some gains and redistribute based on relative performance and charting. Crypto investors / traders are fickle and the capital moves from coin to coin faster than anywhere in the world.
Long
by reversalradar