Here is a pair before the bullish breakout... Synthetix Network Token (SNXUSDT).
For this pair, we have a higher low compared to June but still trading below EMA50.
Since we've seen how the other altcoins are moving, we know that SNXUSDT will follow, or at least we can make this inferrence from the chart signals.
Or we can say this is a setup with low risk...
Globally, the SNXUSDT price is still in a downward trend that has been ongoing since the beginning of 2021
However, now the SNXUSD price is trying to establish itself in the upper part of the descending channel, which gives a chance for positive thoughts about the continuation of the growth.
So, if in the coming days the SNX price is held above $2.70, then the...
Hi dear friends, hope you are well and welcome to the new update on Synthetix ( SNX ) token.
On a monthly time frame, SNX has formed bullish BAT pattern.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
The Synthetix Network has been trading sideways ( as have a lot of crypto currencies recently, but that had started to change for the better, and we all hope for a bull run that dwarfs the last one with all this new money now aware of the benefits of DeFi. Battling that is the ever present and constantly adapting scam artist who are coming up with some of the...
What Is Synthetix (SNX)?
Synthetix is a decentralized finance (DeFi) protocol that provides on-chain exposure to a wide variety of crypto and non-crypto assets. The protocol is based on the Ethereum (ETH) blockchain and offers users access to highly liquid synthetic assets (synths). Synths track and provide returns on the underlying asset without requiring one to...
Hello friends, today I am completing a technical analysis on the 1D linear scale chart for Synthetix ( SNXUSD ), an altcoin cryptocurrency.
#CryptoPickk notes the following:
1) Synthetix price has been falling since February 2021 when it met the all time high.
2) The price is around a crucial Fibonacci Retracement level of 0.786 at around $6.85-$7.00.
3) Along...
Entry at 9,50
Stop at 9,20
Target 15$
Target 1 20$
Target 2 27$
Target 3 83$
We are just forming a Cross on the Stochastic RSI following with a higher low on the RSI and a higher low in price
This trade I'm using a extremely tight SL on just 4%
Synthetix Network is recovering and about to resume the uptrend if manages to hold above 100EMA and ascending TL.
Current Price= 20.097
Buy Entry= 20.119 - 19.793
Take Profit= 21.773 | 22.904 | 24.234
Stop Loss= 18.699
Risk/Reward= 1:1.45 | 1:2.35 | 1:3.4
Expected Profit= +27.33% | +44.31% | +64.32%
Possible Loss= -18.90%
Fib. Retracement= 1.272 | 1.618 |...
SNX is continuing to increase with good volume so we can expect SNX to increase strongly in the next days to $36-38.
However, I think it will take a few days to move sideways to accumulate more at $27 zone.
📈BUY
-Buy: 26-27.5$ if A. SL if B
📉SELL
-Sell: 36-38$. SL if A
♻️BACK-UP
-Sell: 26-27.5$ if B. SL if A
-Buy: 20.5-21.5$. SL if B
❓Details
Condition A : "If...
Synthetix Network broke bullish of that falling wedge, the idea is to catch it on a possible pull-back.
Also, 100EMA seems to be acting as support now, that's why entry zone is down there!
Current Price= 0.0004010
Buy Entry= 0.0003915 - 0.0003813
Take Profit= 0.0004074 | 0.0004341 | 0.0004540
Stop Loss= 0.0003653
Risk/Reward= 1:1 | 1:2.26 | 1:3.2
Expected...
