SNX/USDT upward momentum? 👀 Synthetix Today Analysis

Jan 13

💎Paradisers, zoom in on #SNXUSDT, as it's showing clear signs of an impending major move from a critical demand level.

💎#Synthetix is currently on an upward swing, hinting at a bullish continuation. It's been tracking a descending channel pattern, consistently respecting the channel's resistance. We're anticipating a retest at the demand level of $3.091, which could set the stage for a continued upward momentum. A successful hold above this level for #SNX might open the path to a significant resistance zone at $4.769.

💎 However, should #SNX encounter obstacles in maintaining its position above the $3.091 threshold, a strategic recalibration may be required. In such a scenario, we would consider shifting our focus to a bullish ascent from a secondary demand level at $2.709.

💎 Monitoring this level is essential, as failing to sustain it could indicate a shift towards a more bearish trend in the #SNX market.

Mar 16

Trade closed: target reached

💎 BOOM! #SNXUSDT is dancing to our tune, up 71.72% just like we predicted.

Mar 16

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