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- 1 Synthetix price prediction showcases the uptrend momentum of SNX crypto.
- 2 SNX crypto has recovered above the 20, 50, 100 and 200-days Daily Moving Average.
- 3 The pair of SNX/BTC was at 0.00008878 BTC with an intraday drop of 3.90%.
Synthetix price prediction has broken out of the neckline and is trying to sustain above the neckline over the daily time frame chart. However, sellers may approach to sell SNX cryptocurrency resulting in a pullback of SNX crypto. SNX crypto needs to maintain the accumulation rate of buyers in order to surge maximum. Meanwhile, investors need to wait for any directional change over the daily time frame chart. Synthetix price has gained around 87.66% year-to-date.
Synthetix price was at $2.6873 and has gained 2.22% of its market capitalization during the day’s trading session. However, trading volume has slipped around 53.77% during the intraday trading session. This demonstrates that SNX crypto may start slipping by the end of intraday trading session. Volume to market cap ratio was at 0.0877.
Will Synthetix Price Sustain or Get Detained?
Synthetix price prediction indicates the recovery phase of SNX cryptocurrency over the daily time frame chart. Finally SNX crypto has managed to break out from the neckline near $2.55. However, sellers may try to pull SNX cryptocurrency towards the lower level during the day’s trading session. Meanwhile, SNX crypto has recovered above the 20, 50, 100 and 200-days Daily Moving Average. Trading volume is below average and needs to grow in favor of buyers during the intraday trading session.
Synthetix price needs to attract buyers in order to sustain at the current level over the daily time frame chart. Moreover, Synthetix price has gained 30.38% in a week and 47.74% in a month. Also SNX cryptocurrency has gained around 20.95% in the last six months and 87.66% year-to-date. This confirms the facts regarding SNX crypto’s maximum recovery in 2023.
Technical indicators suggest the sustainability issues of Synthetix crypto price. Relative strength index (RSI) showcases the consolidation phase of SNX crypto. RSI was at 65 and is flat below overbought territory.
MACD exhibits the upside trend of Synthetix crypto price. The MACD line is above the signal line after a positive crossover. Investors in Synthetix crypto need to wait for any directional change over the daily time frame chart.
Summary
Synthetix price prediction has broken out of the neckline and is trying to sustain above the neckline over the daily time frame chart. However, sellers may try to pull SNX cryptocurrency towards the lower level during the day’s trading session. Technical indicators suggest the sustainability issues of Synthetix crypto price. Investors in Synthetix crypto need to wait for any directional change over the daily time frame chart.
Technical Levels
Support Levels: $2.55 and $2.35
Resistance Levels: $2.88 and $3.25
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
