SNX Is Getting Set to Trend Northward

0
6
SNX Is Getting Set to Trend Northward



Synthetix (SNX) Price Prediction – July 3
The present trading outlook of the SNX/USD market operation portrays that the crypto is getting set to trend northward. Price is keeping a minimal percentage rate of 0.22 negative as its last ninety days of trading on the financial book of records shows a high of $7.15 and a low of $1.45.

Synthetix (SNX) Price Statistics:
SNX price now – $2.60
SNX market cap – $262.1 million
SNX circulating supply – 114.8 million
SNX total supply – 215,3 million
Coinmarketcap ranking – #94

SNX/USD Market
Key Levels:
Resistance levels: $3.50, $4, $4.50
Support levels: $1.50, $1, $0.50

SNX/USD – Daily Chart
The daily chart shows the SNX/USD market is getting set to trend northward against the recent sequential featuring of lower lows along a bullish wall it had had in the past at a lower-trading spot close to the lower bearish channel trend line drawn. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators have moved southbound, nearing the range of 40. And they are seemingly attempting to close the lines.

Will the SNX/USD market beef up sustainably to trend northward?

There is the possibility of seeing the SNX/USD market beefing up a sustainable strength as the crypto economy is getting set to trend northward for recovery. Long-position takers needed to be wary of buying orders executed above the $1.50 support level while price attempts resort to a fearful declining motion. But, the investors shouldn’t let the presumed condition lead them into panic sell-offs.

On the downside of the technical analysis, there has been a warning candlestick against the continuation of the recently embarked upon correction movements of the SNX/USD market operations. Sellers may have to exercise patience toward looking out for what can be the market reactions around the $3.50 resistance trading level before considering either going for a re-launch or still suspending selling orders until some other time when a rejection will spot around higher resistance levels.

SNX/BTC Price Analysis

Synthetix’s trending ability compared with that of Bitcoin showcases the base crypto is getting set to trend northward higher against its counter crypto. In the recent sessions, the cryptocurrency pair price resorted to a series of corrections to touch a conjoined area of the SMAs. The 14-day SMA indicator remains conjoined with the 50-day SMA indicator from underneath. The Stochastic Oscillators are in the ranges of 40 and 20, seemingly trying to cross back the lines northbound in a conjoining effort. A bullish candlestick emerged during yesterday’s operations to nullify the getting of more sustainable downs.

eToro – Automated Copytrading of Profitable Traders

  • 83.7% Average Annual Returns with CopyTrader feature
  • Review Traders’ Performance, choose from 1 – 100 to Copytrade
  • No Management Fees
  • Free Demo Account
  • Social Media & Forum Community – Trusted by Millions of Users

68% of retail investor accounts lose money when trading CFDs with this provider.

 

Read more:



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here