SNX / USDT
Major resistances (horizontal and non- horizontal) are being tested
strong volume is needed here for the breakout
If breakout done successfully ✔️ bullish wave will be followed
Place this coin in your watchlist
Best of wishes
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...
SNX has been trading in a bearish trend .
The bearish trend was well respected by falling resistance .
The price has been making lower lows and lower highs.
Now after taking support from horizontal zone, the price has broken above the falling resistance .
The bulls can take complete control above the falling resistance
Manage your levels accordingly.
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...
Past Performance of Synthetix
Synthetix is up 46 percent from the December low and relatively stable, checking the performance in the daily chart. As asset prices soar, SNX is stagnant, trading below the $2.05 resistance level. Even so, the leg up in the past few days places buyers at a pole position for a breakout toward new Q1 2023 highs.
SNX showing an interesting view for a low time frame, with the possibility that SNX can target $1.97 coming time.
we will follow the coin to see if it can get confirmed.
checking also if this coin is able to become a day changer coin.