Hi good people!
I am looking at this descending triangle or possibly a falling wedge on SNX for some time now. It has played out on the trendlines pretty precise. It is going to breakout for sure, the question is to which side? For descending triangles, textbook says - down. For a falling wedge, textbook says - up.
Maximum size of the move after breakout =...
Synthetix price bounces off support at $3.40 in readiness for a breakout to $5.00.
SNX/USD is drawing closer to the resistance at the 50EMA, likely to delay the bullish scenario.
Synthetix Network Token price fell in tandem with other decentralized finance (DeFi) tokens. The lending, borrowing, and liquidity ecosystem has been dealt a heavy blow amid the...
Possible trendline break soon
RSI moving into the bullish control zone
AO printing a green line over the zero line.
SNX is a great long term hold as the derivatives market is enormous and SNX has first mover advantage in the defi space.
About Synthetix Network Token
What is Synthetix?
Synthetix is a derivatives liquidity protocol on Ethereum that enables...
Scale buy into SNX at perceived support. Price sitting on the 24 ema which has supported price nicely in combo with a fisher bullish cross, macd histo bar color change and an uptick on the SMS. I may be a touch early here as I like to see a Parabolic Sar flip to confirm, hence the scale buy and not a full commit.
WHY am I long SNX?
Staking for liquidity rewards is highly popular
Trading available on all major ERC20 assets including some indices in the future.
Here are the levels to watch...