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SNXUSD

Synthetix parabolic move coming!!Synthetix is preparing for a Parabolic move in the next few weeks. The CM ULTIMATE MA MTF on the weekly chart shows a very a clear and distinct pattern. Once it turns green from red the move that follows is fairly substantial. Price action is still fairly low in SNX while the the ULTIMATE MA has already turned green. Down below we have the RSI and it is around the 42 level. Once the RSI gets above The yellow resistance/support line at 50 then price action will move quickly and will continue to do so will it stays above or finds it as support. The key to this chart is the CM ULTIMATE MA turning green (Circled) that is most likely for shadowing the parabola. Thanks for looking! Please like and follow!
COINBASE:SNXUSDLong
by WeAreSat0shi
5
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
Short
by behdark
7
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.
COINBASE:SNXUSDLong
by BitonGroup
8
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
by behdark
3
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. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:SNXUSDLong
by TradingShot
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%) _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
Long
by P_S_trade
42
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. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:SNXUSD
by InvestingScope
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
Long
by currenceland
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. Follow us, like the idea and leave a comment below!!
CRYPTO:SNXUSDLong
by TheCryptagon