The cryptocurrency market is experiencing a strong bullish trend, underscored by Bitcoin's ($BTC ) milestone of surpassing $100,000. As BTC dominance declines to 55.66%, down from a recent high of 61.53%, altcoins are beginning to gain prominence. Notably, Mina ($MINA ) and Synthetix ($SNX ) have shown impressive weekly gains of 23% and 39%, respectively, and both are approaching critical breakout levels. Traders are now closely monitoring these tokens for potential bullish momentum.
Mina (MINA):
Mina has been consolidating within a descending triangle pattern for over two and a half years—a technical setup that often precedes substantial price movements. Over the past week, MINA has seen a 23% increase, currently trading at $0.93 as it tests its upper resistance trendline.
A breakout above this resistance, particularly surpassing the $1.00 level, could trigger a powerful rally. If successful, the price of MINA could surge toward its next resistance level at $1.70, representing a potential upside of 78% from its current value. Furthermore, if the momentum continues, MINA could target $3.57, indicating a significant 355% upside from its current price.
Synthetix (SNX):
Synthetix recently broke out of a three-year-long falling wedge pattern, marking a key technical shift. The token surpassed its upper trendline at $2.09, driving its price to $3.22, where it is now testing a critical resistance zone.
Should SNX break above the $3.46 level, it could enter a new phase of bullish price action. Technical analysis suggests that such a breakout could propel SNX to the next resistance levels at $5.13 and $8.17, offering potential gains of nearly 150% from its current price. Over the longer term, if momentum remains strong, SNX could aim for $15.94, completing a full bullish reversal from its previous lows.
Are Larger Rallies on the Horizon?
Both MINA and SNX are exhibiting early signs of bullish momentum, with increasing optimism about their potential for significant rallies. The recent decrease in Bitcoin's dominance has redirected market attention toward altcoins, creating favorable conditions for tokens like MINA and SNX to shine. However, the key to unlocking their full potential lies in overcoming crucial resistance levels. For MINA, the $1.00 mark is pivotal, while SNX needs to break above $3.46 to solidify its upward trend. If these key resistance points are surpassed, both tokens could see substantial gains in the near future.

$SNX
3.208
+16.57%
1. Current Price: $3.209
2. 24h High: $3.361
3. 24h Low: $2.668
Trend Analysis:
The price has experienced a strong bullish momentum in the last 24 hours (+21.66%).
$SNX has been pushing upwards and recently tested its resistance level around $3.36.
The current support level is around $2.67, and it’s holding well, indicating potential for a bullish continuation if the support holds.
RSI (Relative Strength Index) and other momentum indicators suggest strong buying pressure, but there may be a slight pullback before further upward movement.
Trade Signals:
Entry Signal: If SNX holds above $3.20 and sustains bullish momentum, enter the trade around $3.30 to $3.35 range.
Stop-Loss: Place a stop-loss just below the support at $2.90 to limit downside risk in case of a reversal.
Take Profit Levels: Set three target levels for a more strategic exit:
Target 1: $3.55 (near short-term resistance)
Target 2: $3.75 (next major resistance zone)
Target 3: $4.00 (psychological level and further resistance)
Momentum:
Bullish Momentum: Given the price action and volume, there is significant bullish momentum. The volume is increasing, indicating strong demand.
Potential Pullback: Be prepared for a small pullback after hitting resistance levels. Watch for the price to hold above $3.20 before confirming continuation.
Risk Management:
Use proper risk management by not overexposing yourself in any single trade. Adjust position sizes according to your risk tolerance.
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