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MyCryptoParadise_Simon
Jan 13, 2024 12:09 PM

SNX/USDT upward momentum? πŸ‘€ Synthetix Today AnalysisΒ Long

SNX / TetherUSBinance

Description

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πŸ’ŽParadisers, zoom in on #SNXUSDT, as it's showing clear signs of an impending major move from a critical demand level.

πŸ’Ž#Synthetix is currently on an upward swing, hinting at a bullish continuation. It's been tracking a descending channel pattern, consistently respecting the channel's resistance. We're anticipating a retest at the demand level of $3.091, which could set the stage for a continued upward momentum. A successful hold above this level for #SNX might open the path to a significant resistance zone at $4.769.

πŸ’Ž However, should #SNX encounter obstacles in maintaining its position above the $3.091 threshold, a strategic recalibration may be required. In such a scenario, we would consider shifting our focus to a bullish ascent from a secondary demand level at $2.709.

πŸ’Ž Monitoring this level is essential, as failing to sustain it could indicate a shift towards a more bearish trend in the #SNX market.

Trade closed: target reached

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πŸ’Ž BOOM! #SNXUSDT is dancing to our tune, up 71.72% just like we predicted.

Comment

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Comments
Malinaira
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Thank you !
Cosmosshah
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Respectfully This analysis is caused by a confused mind, even beginners know that the market will either go up or down or will be in a sideways , you have considered all three situations. While when you publish an idea, you should show the scenario that you consider the most likely to happen
Xanrox
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It looks like a huge bullish flag, which is a bullish pattern. Thanks for it, will set an alert.
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