SNXAlso longed this one. Break above range mean and I think range high and that clean high around $5.8 are next. George1 CallLongby jb4inkssUpdated 0
Synthetix about to go Supernova. SNXUSDOn the Binance chart, it just looks like have too many started fractals to count. I have confirmed pivot (blue line), so all this potential growth is that much more real. Yet, still in early stages confirmed by 1-2 1-2 patterns. I suppose my preliminary goals would by first W1max then FibExtensions at 1.4 then 1.6. Either way, strong evidence that we are going up on this one. Some preliminary targets are painted in in green, and invalidation in red as always. Good luck, traders - and remember nothing I ever say is financial advice. Do your own work and make up your own mind.Longby Rykin_CapitalUpdated 0
SNX - which option is playing out?Hi good people! I am looking at this descending triangle or possibly a falling wedge on SNX for some time now. It has played out on the trendlines pretty precise. It is going to breakout for sure, the question is to which side? For descending triangles, textbook says - down. For a falling wedge, textbook says - up. Maximum size of the move after breakout = 2.7 Two possible scenarios as I see it: - BULL option breakout - takes us to app. 6.4, with certain stops on the way for sure - BEAR option breakout - takes us down to ATL at 0.6 (is this even possible?) - and a bonus third option - none of the scenarios play out! I would be happy to know your thoughts! How do we play this one out? Thank you for the attention!by flyfreebaby1
SNX - DARK DAYSSNX LOOKING FORWARD TO BREAK THIS BEARISH TRIANGLE, IF BROKEN IT HAS CLEAR PATH TO REACH HISTORICAL MINIMUMS.Shortby PRETOCAPITAL113
SNX bounce zonesSNX has a strong base at $3.55 level, but if this level leaks - next buys zone is around $3.00 Longby dcpypt0
Synthetix Technical Analysis: SNX Flips Resistance Into Support Synthetix price bounces off support at $3.40 in readiness for a breakout to $5.00. SNX/USD is drawing closer to the resistance at the 50EMA, likely to delay the bullish scenario. Synthetix Network Token price fell in tandem with other decentralized finance (DeFi) tokens. The lending, borrowing, and liquidity ecosystem has been dealt a heavy blow amid the downtrend in the market. Synthetix cut short the recovery staged following the dip in the first week of September. A step above $6.00 was key for the bull run towards $10.00 but it found the bulls exhausted and the bears ready for revenge. The declines followed the confines of a parallel descending channel. Support at $3.40 came in hardy, preventing the bearish leg from extending to $3.00. A reversal is currently underway. SNX has already stepped above $4.00, support confirmed earlier in September. Moreover, the DeFi token trading above the parallel channel, after a bullish flag confirmation. The uptrend is highlighted by the Relative Strength Index (RSI), after a sustained recovery from the oversold region. If the RSI maintains the positive gradient into the overbought zone, SNX is likely to continue with the uptrend aiming for levels above $5.00. The resistance at the 50 Exponential Moving Average (EMA) must, however, come down for the expected gains to materialize. More hurdles are envisaged at the 100EMA in the 4-hour range. On the flip side, short term support at $4.00 must be guarded at all costs. Otherwise, SNX could resume the downtrend, eyeing $3.00. Synthetix Intraday Levels Spot rate: $4.25 Relative change: -0.025 Percentage change: -0.8% Trend: Bullish Volatility: HighLongby CoinGape113
SNX - postioningPossible trendline break soon RSI moving into the bullish control zone AO printing a green line over the zero line. SNX is a great long term hold as the derivatives market is enormous and SNX has first mover advantage in the defi space. About Synthetix Network Token What is Synthetix? Synthetix is a derivatives liquidity protocol on Ethereum that enables the issuance and trading of synthetic assets. Each synthetic asset (or Synth) is an ERC20 token which tracks the price of an external asset; for example, each sUSD token tracks the price of the US dollar (and unlike the other synthetic assets, is fixed at 1). A wide variety of Synths exists within Synthetix, including fiat currencies, cryptocurrencies, commodities, and inverse indexes. In principle, the system can support any asset with a clear price and provides on-chain exposure to an unlimited range of real-world assets. The protocol will enable a variety of trading features including binary options, futures, and more. How does Synthetix work? Synthetix is otherwise composed of a smart contract infrastructure and a set of incentives that maintains Synth prices. It is underpinned by the value of the Synthetix Network Token (SNX). SNX acts as collateral; staking a proportional value of SNX is required to mint Synths. Stakers are rewarded for supporting the system with a pro-rata share of the fees generated by activity in the system. The value of SNX is thus directly connected with the usage of the network it collateralizes. This mechanism allows Synthetix to support instantaneous, near-frictionless conversion between different flavors of Synths without the liquidity and slippage issues experienced by other decentralized exchanges. The resulting network of tokens supports an extensive set of use cases including trading, loans, payments, remittance, eCommerce, and more. Synthetix was launched in late 2017, originally under the name of Havven (HAV).Longby ralis242
SNXWeekly chart is very much bullish much bigger retrace is possible short and long term speculative this is weekly parabolic run scenario fib extention from weekly low could see 162% 262% 362% Longby MarketMastermindsGroup2
SNX = supportScale buy into SNX at perceived support. Price sitting on the 24 ema which has supported price nicely in combo with a fisher bullish cross, macd histo bar color change and an uptick on the SMS. I may be a touch early here as I like to see a Parabolic Sar flip to confirm, hence the scale buy and not a full commit. Longby ralis244
Synthetix a clear choice for DEX & DeFi with high liquidityWHY am I long SNX? Killer project Staking for liquidity rewards is highly popular Trading available on all major ERC20 assets including some indices in the future. Transparent Team Here are the levels to watch...Longby Crypto_Gnome13