SNX is starting to resume the rise after trading below the moving averages, according to the Synthetix price prediction.
Data on Synthetix Prediction:
- Current cost of Synthetix is $2.76
- Synthetix’s market value is $702.6 million.
- 253.9 million Synthetix units are currently in circulation.
- Supply of Synthetix as a whole: 316.3 million
- Rating of #66 on Synthetix Coinmarketcap
Market for SNX and USD
Important levels
Resistance Levels: $3.30, $3.50, and $3.70
Support Levels: $2.10, $1.90, and $1.70
As long as the price stays above the $2.70 resistance level, SNX/USD appears to be in the green. However, the price of Synthetix might rise to $3.00 with a daily close above the $2.80 mark. However, traders should be aware that when bulls raise their holdings, a steady price gain may encourage additional buyers to enter the market.
Price of Synthetix May Start to Break Higher, According to Prediction
The Synthetix price had been ranging between the 9-day and 21-day moving averages over the previous few days, but today SNX/USD is breaking above the 21-day moving average. The daily chart also shows that the coin will go upward if the 9-day moving average crosses over the 21-day moving average.
If the bulls are unable to force the price upward, the bears can use this opportunity to breach toward the lower border of the channel. Relative Strength Index (14) is passing over the 50-level, a technical indicator, nonetheless. Additionally, if the Synthetix price remains above the moving averages, it may reach the resistance levels of $3.30, $3.50, and $3.70, but sliding southward may cause the price to fall to the supports of $2.10, $1.90, and $1.70.
The price of Synthetix in relation to Bitcoin is advancing to cross above the 21-day moving average. However, intraday trade is ranging as the currency swings upward, perhaps reaching the resistance mark at 1300 SAT and above.
On the other hand, if sellers drive the market south, traders may anticipate a drop below the channel’s bottom limit, which might strike the support at 680 SAT and below. The technical indicator Relative Strength Index (14), which indicates more optimistic indications, is anticipated to pass over the 50-level in the meanwhile.
Synthetix alternatives
If the bulls could maintain the $2.76 level in the present market value, the Synthetix price may continue to advance northward. In the meanwhile, the market’s positive momentum to the higher prevented it from capitulating to selling pressure below $2.50. However, Love Hate Inu is a fascinating Ethereum-based meme coin concept that enables you to voice your thoughts on trending subjects and profit from doing so. With almost $3.5 million raised in the current presale, this platform’s ground-breaking « Vote-to-Earn » (V2E) mechanism enables you to generate a regular income stream from your thoughts on the most contentious subjects.
