SNX saw some incredible gains during January and February earlier this year. However, since it touched $28, SNX has seen a steady decline in value, hitting -55% from ATH at some point.
Since hitting that -55% from ATH, SNX has seen a strong increase in value. Recent price action is strong enough to potentially produce a bull flag break out in the short term.
break out confirmed on 4 hr time frame
✅ Buy: 21 - 22.75 ✅
1- $ 25.55
2- $ 28.97
3- $ 38.90 (midterm target)
💵 Trade Size: 5-7% of Portfolio
🚫Invalidation(SL): daily candle close below $ 16
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Many altcoins have similar technical conditions, starting wave 3 after wave 2 of wave 5.
Targets This movement is marked on the chart.
Visit our page to see an analysis of other Altcoins.
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It seems that Synthetix found a strong lasting support at $13, which should act as a booster of the SNX.
Synthetix according to the EW has completed the 4th wave, as usually 4th wave is 0.618 of the 3rd wave.
Although I highly recommend you to go long upon the breakout of the dynamic resistance.
Expect volatility today, remember the BTC futures...
Synthetix is an integral part of the DeFi eco system and SNX is hilariously cheap at a 2 billon dollar market cap.
Theyre playing a huge role in Eth 2.0 scaling and likely will be what the future of tokenized derivitives is built on.
We've been forming a BEAUTFUL corrective pattern, with an almost 50% grind down. Once everything is in full swing...
The Little Old lady is a conservative investor and trader.
Always looking for cheap prices in crypto, she starts buying at the 0.618 Fibonacci level, 0.786, and at the 0.886 level. She never invests more than 5% in any one coin, expecting to lose the investment. Positions of 0.3% or a few dollars are not uncommon.
The old lady also looks for an asset that has...
Chainlink jumped to $50 from this point. Hopefully, SNX can make it to $35. Their charts looked similar, but SNX has been lagging lately. I am banking on $35 minimum this up coming 1-2 months
DYOR - I am still a noob