Synthetix appears to have bottomed when looking at the long-term view and has now began its 5th cycle wave that could propel its price as high as $200. However in the short-term it's slightly bearish before resuming it's uptrend.
The SNX updates are coming in fast & furious. Transition to Layer 2 is still underway and SIPs are being implemented. This current SIP is bringing "Shorting" capabilities to Layer 2. I love that SNX is still flailing around at the bargain price we see today. I'm telling my friends to pick up more if they have extra cash and store their SNX at Celsius Network to...
This is not financial advice. This is simply what I am doing and why. I find SNX extremely attractive at $10 or below. I consider it on sale. As a derivatives platform, Synthetix Network has a very profitable idea. If they can pull it off, traders will be able to go to one place and trade without using paper moneys (using tokens to buy synths), to the long or...
SNX has netted me 14.40% gains from a 9.4621 base preliminary I made yesterday, after a series of DCAs I made on the way down (yellow rays), beginning at 10.9048. I expect this swing to keep climbing after a series of tests and retests and minor corrections peaking around the 2.272% Fibonacci level where I'll consider liquidating my position after taking profit at...
This is a perfect place for this common accumulation fractal. I see this as the most likely scenario, and will take us up to the ~$21-$22 resistance line.
This is not financial advice.
-BS
Are you staking your SNX? If you aren't, you might look at creating a Celsius Network account and transfer your SNX there and start getting 13.99% APY on your tokens. I started with 2771 tokens on 1 August. I now have 2828 tokens without ever having bought another token. I get more tokens every Monday without doing anything else. This morning, Celsius added 7.11...
Hey guys!
I'm currently HODLing some SNX that I recently bought due to the vibe I got from the hourly chart of COINBASE:SNXUSD . There's a clear rhythm (up and down seasons) to the Madrid Moving Average Ribbon that would suggest that we're reaching the bottom of the "down" season for SNX that started around 09/16. If history repeats itself, we'll see a $4-$6...
SNX has netted me 12.47% gains in 24 hrs. This was from a 13.40 preliminary entry I took on 9/15. We are expecting more to come!
Prognosis: I'm looking for the .618 Fibonacci as a potential target, until then I expect retests of the .272 key support level.
*Professional Wyckoffian VSA crypto swing trader (since 2017). I regularly seek out the most lucrative...
Idea
SNX/USD is on the brink of a potential breakout to the topside on the 1D chart @ 14.90. The set up seems to suggest a bullish continuation for SNX/USD up to about 20.00 in the short term.
Price Structure
Top Trendline: 14 Feb ‘21 @ 29.00, 18 May ‘21 @ 25.90
Bottom Trendline: 26 Jun ‘21 @ 5.50, 21 Jul ‘21 @ 7.10, 07 Sep ‘21 @ 9.30
Middle Trendline...
SNX is another coin that has not pumped in the recently rally, we think the bullishness for the entire crypto space will spread like wild fire and it's only a matter of time it reaches the SNX camp.
BULL CASE
Price may find immediate rally from, blast past it and find consolidation well above the 200MA near the $20 levels.
BEAR CASE
In the event price dumps...
