we have bottom fib bounce with a bottomed out RSI on 1W timeframe. We are currently resting right at our VPOC for the entire chart.
SNX tends to be a very early mover on the market, and with a potential bounce here we have quite a bit of upward potential.
This is one token that has certainly not shone throughout 2021 following a 80% correction since February, however I believe that’s about to change. Why?
** significant developments on the weekly chart **
1) On the above weekly chart price action has been trading inside a rising channel. Have been watching the price action resistance closely over the last...
Synthetix (SNX) is a new financial primitive enabling the creation of synthetic assets, offering unique derivatives and exposure to real-world assets on the blockchain.
The roadmap of the asset is pretty exciting for 2022. Also, since Sept 2020, all synths are powered by Chainlink (LINK), for sure be one of the greatest sensations of 2022.
Hello everyone, if you like the idea, do not forget to support with a like and follow.
Here is the top-down analysis for SNX, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
With L2 dexs taking center stage and UNIswap the KING of L1 DEXs with SUSHI n BNB eco system (ohh snapples we got SOL MATIC BSC AVAX with ALGO ADA DOT getting in line_dot gonna jump em probably lol i was so anti dot at pre 5 usd lol FML also sold ENJ pre 1 usd lol had at .20 again FML) n so many others as well trying but in the end as gas prices rise and cross...
SNX has entered its bearish trend breaking some important support zones.
At the moment I expect it to bounce up to $9 and complete 'M' pattern.
A good trade could be taken on trend line breakout.
We see how price will react to first resistance at around $7.2.
Mid/Long term I don't see it breaking its ATH, to me the best 'bullish' scenario is being in a range...
I opened a Long just few days ago. Let's see what will happen 🚀. Just remember: Stick to your plan and have a good risk management 👍
And that's the main reasons I decided to take a long on SNX :
► Bounce from the previous support bottom of this triangle.
► Very very high risk reward ratio
► It's very oversold on the RSI
But I am still neutral to this...
Hello to all dear traders, I hope you always hunt for big profits.
This is not financial advice! This is an opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing.
everyone should buy and sell according to their own strategy.
Everything you need...
Trade setup for SNX
-BTC fighting for a HL after some down trend months
-#SNX at high liquidity blok
-SMAs almost horizontal
-7% USA INFLATION RATE ;D
Hello traders i hope you are doing well its my 3rd analysis on Snx and bias is super bullish for SNX
Snx breakout from falling wedge on 1 D timeframe and possible to retest to flip previous resistance into support
the targets for SNX is already mentioned
cheers to all
kindly support for more updates
The yesterday’s daily candle close above resistance brought snx to a breakout. Retest to 6.8$ region completed on the hourly time frame. Expecting a rally up 50% 100% as snx climbs back to previous highs.
Disclaimer: Not financial advice