As indicated in my last idea, SNX has broken the yellow parabola and closed a daily candle outside. Therefore we're cleared to go lower now.
Obviously falling to $5 -7 may be unrealistic right now as we have plenty of support levels until there, but a good support level to eye is around $11 as shown on the chart.
The indicators are also very bearish with...
SNX is one of the best coins to trade recently, posting some serious gains. It is now flirting with the lower boundary of the uptrend channel on the 4-h chart. It is a good opportunity to add some coins to the positions.
Targets in green
Resistance in red
Stop at the 50-day EMA
Although the crypto market has been pulling back, SNX has been heading ever higher! The coin is already up by more than 100% in 2021, and this may be just the beginning!
According to Nicolas Darvas, the writer of the famous book "How I Made $2,000,000 in the Stock Market", the stocks that are the most resilient in bear markets, and that even try...
Risk warning, disclaimer: the above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. Hope investors consider, I am not responsible for your investment decision. Thank you.
SNX has done a 5x since November and now we are at the top of the ascending channel. This is a danger zone!
There is also a bearish divergence on all three indicators: MACD / RSI / Stoch RSI = higher price and lower top on indicators = we're losing momentum. This is not good.
A good indicator to sell is when the yellow parabola will break. When that...
$20 by February is a reasonable target in my opinion. You have to expect SNX will continue to accelerate as long at it stays above the lower parabola. Last week SNX recorded its most volume since inception.
***I am long SNX
Not much to say here: SNX has entered price discovery, consolidated and held up well. Parabolic move very likely. Major upside ahead. Approx. 110 Million Staked on Synthetix Network out of 114 Circulating supply. Low liquidity on exchanges could see this thing fly above target.