The Synthetix Network token (SNXUSD) is having a very bullish day following the rebound on the June Support Zone. Being still restrained below two Lower High Resistances, April 01 2022 and May 18 2021, this is a short-term rebound that targets the 1D MA200 (orange trend-line).
However, having rebounded on the 1W RSI Support Zone, this bounce can be similar to the previous two counter trend rallies since June 2021. All plotted on today's price action, those point to a break-out above the May 18 2021 Lower Highs trend-line by January 2023! Only a break below the June 18 2022 Low can invalidate this.
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The movements of the last week allow me to question the relevance of this idea. It is worth reconsidering the liquidity of the nearest levels for possible manipulation.The movements of the last week allow me to question the relevance of this idea. It is worth reconsidering the liquidity of the nearest levels for possible manipulation.
Solldy
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I don't agree with your vision, it seems to me that the idea is too exaggerated, and there is no confirmation of this scenario right now. What will you do if the price goes the other way?