Synthetix Price Prediction for Today, August 24 – SNX Technical Analysis

The Synthetix value prediction reveals that SNX might kind increased because the bears might quickly lose grip over the coin.

Synthetix Prediction Statistics Knowledge:

Synthetix value now – $2.15
Synthetix market cap – $576.5 million
Synthetix circulating provide – 268.9 million
Synthetix whole provide – 322.8 million
Synthetix Coinmarketcap rating – #60

SNX/USD Market

Key Ranges:

Resistance ranges: $2.80, $3.00, $3.20

Help ranges: $1.60, $1.40, $1.20

SNX/USD is shifting to cross above the 9-day and 21-day shifting averages whereas the $2.00 assist stage stays the important assist the place the worth has been holding for a while now. Nonetheless, since just a few days in the past, SNX/USD has been buying and selling bearishly and this might make the coin cross beneath the decrease boundary of the channel.

Synthetix Value Prediction: Will Synthetix Transfer Greater?

The Synthetix value might proceed to rise and will in all probability commerce close to the higher boundary of the channel if the bulls might contact the resistance stage of $2.20. Subsequently, any additional bullish motion towards the higher boundary of the channel might find the potential resistance ranges at $2.80, $3.00, and $3.20.

However, this technical Prediction could also be invalidated if the bears break beneath the decrease boundary of the channel. Any additional bearish motion might attain the helps at $1.60, $1.40, and $1.20 respectively. Furthermore, the technical indicator Relative Power Index (14) is more likely to cross above the 40 stage, which might push the coin in a optimistic course.

SNX/BTC May Spike to the Upside

In opposition to Bitcoin, the Synthetix value is trying to cross above the 9-day and 21-day shifting averages with a serious resistance stage at 900 SAT. The long-term shifting averages might probably preserve the bullish motion because the market could possibly be beginning a brand new development by crossing towards the higher boundary of the channel.

However, if the consumers might push the worth to the upside, increased resistance could possibly be situated at 1000 SAT and above because the technical indicator Relative Power Index (14) strikes to cross above the 50-level, However, if the bulls fail to maneuver the present market worth above the shifting averages, the bears might step again into the market, and the important assist stage could possibly be discovered at 600 SAT and beneath.

Options to Synthetix

The Synthetix value is dealing with the upside as the worth hits the resistance stage of $2.25. In the meantime, a each day shut above the 21-day shifting common might push the Synthetix value to the resistance stage of $2.50 if the bulls improve the strain. Nonetheless, merchants ought to notice {that a} constant value improve might carry extra consumers into the market as bulls improve their positions.

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