We might see SNX correcting to 0.5 or 0.618 of this bull leg before advancing to $24-35 which is 1.618 to 2.618 fib levels.
In my opinion SNX is primed to be the number 1. DeFi project just because investors can trade derivatives (multi-trillion to unknown overall market value, possibly quadrillion)
Remeber, current DeFi market cap is (ONLY) 33.2 Billion dollars. Recently, Mark Cuban who admitted he holds crypto said that DeFi is going to disrupt the whole financial space and market.
Nice work. Like to see an update on where you think this grows next.
TreyStar
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Did have a candle close under that support line , looks like you will be correct.
TreyStar
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Building a new base at 15. I dont think we're going back to 11.
RPubens
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@TreyStar, We've touched 11.5. Let's see if it's going to bounce from here.
Stevo11171
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Great chart. I'm a little new at this but learning - seems you've got decent entry positions for SNX between $14-15.50? Am I reading that correctly?
RPubens
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@Stevo11171, Thanks. I invested in SNX when it was about $5.
Stevo11171
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@RPubens, Yes I bought a small amount in that region as well. Will keep for long term. Got some cash on the side I'm looking for a good entry now. I'm targetting $14-15 levels as support but not sure we dip back down there.
RPubens
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@Stevo11171, $11 was a decent buy zone. Did you get it?
Stevo11171
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@RPubens, I did not get it all the way down at $11. I bought a traunch of SNX at $14.75 and then yesterday I bought again at 13.50. My first buy of SNX was above $15 so while I didn't catch the bottom all the way down at $11, I still feel pretty good about layering in my buys at lower levels.
I'm still a rookie at this so I try to be a little conservative in my buy zones since it's so hard to try and catch the bottom.
But thanks so much for following up! I'm feeling great about my SNX bags long term.
Stevo11171
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And what was really great about yesterday is I managed to add to my bags of SXP and RSR at great entry levels.