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- 1 Synthetix price prediction suggests the token’s recovery phase over the daily time frame chart.
- 2 SNX crypto has recovered above 20, 50 and 100-days DMA to reach the 200-days Daily Moving Average.
- 3 The pair of SNX/BTC was at 0.00007689 BTC with intraday gain of 20.40%.
Synthetix price prediction suggests the token’s recovery phase to reach the recovery level of $3.00 over the charts. SNX crypto needs to maintain the current accumulation rate as trading volume shoots above average. SNX crypto price must maintain the current uptrend momentum to break out from the pattern it has been caged in over the daily time frame chart.
Synthetix price was at $2.399 and has gained 24.43% of its market capitalization during the day’s trading session. Trading volume has significantly increased by 381.60% during the intraday trading session. This demonstrates that buyers are accumulating at a high rate to push SNX crypto price toward the upper neckline of the pattern. Volume to market cap ratio was at 0.1295.
What Do Technical Indicators Suggest about SNX?
Source: SNX/USD by TradingView
Synthetix price prediction indicates the maximum recovery of SNX cryptocurrency during the year 2023. SNX crypto may reach the recovery level of $3.00 if it breaks out from the neckline at $2.50 over the daily time frame chart. Meanwhile, SNX crypto has recovered above 20, 50 and 100-days DMA to reach the 200-days Daily Moving Average.
Synthetix price has gained around 23.82% in a week and 54.97% in a month. Moreover, SNX crypto price has surged around 60.88% year to date hinting towards the maximum recovery of SNX crypto during 2023.
Technical indicators suggest strong uptrend momentum of SNX crypto price. Relative strength index showcases the upward velocity of SNX crypto. RSI was at 64 and is heading towards the overbought territory.
MACD exhibits the upside trend of SNX cryptocurrency. The MACD line is above the signal line after a positive crossover. Investors in SNX crypto need to wait for any directional change on the daily time frame chart.
Summary
Synthetix price prediction suggests the token’s recovery phase to reach the recovery level of $3.00 over the charts. Synthetix price prediction indicates the maximum recovery of SNX cryptocurrency during the year 2023. Moreover, SNX crypto price has surged around 60.88% year to date hinting towards the maximum recovery of SNX crypto during 2023. Technical indicators suggest strong uptrend momentum of SNX crypto price. Investors in SNX crypto need to wait for any directional change over the daily time frame chart.
Technical Levels
Resistance Levels: $2.50 and $3.00
Support Levels: $2.00 and $1.88
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
