From the daily chart of SNX/USDT, the trend of SNX is indeed not optimistic, with obvious bearish signals. The main reasons are as follows:

1. Breaking key support level: SNX previously formed an important support level around $3.1, receiving support and rebounding multiple times. However, recently SNX has effectively broken this key support, and the rebound lacks strength, indicating strong bearish momentum, and the downtrend is likely to continue.

2. Death cross: The chart shows that the 5-day moving average has crossed below the 20-day moving average, forming a "death cross," which is a typical bearish signal, suggesting that SNX may further decline in the short term.

3. Shrinking trading volume: During the decline of SNX, the trading volume has not significantly increased; instead, there are signs of contraction. This indicates a lack of buying support in the market, and the downward momentum is likely to persist.

4. Overall market environment: The current sentiment in the cryptocurrency market is weak, lacking obvious positive news stimulation. In this context, it is difficult for SNX to establish an independent trend.

5. Technical indicators: The MACD indicator shows that the DIFF line is running below the zero axis, and the green bars continue to expand, indicating that bearish momentum is continuously strengthening.

In summary, the current technical indicators and market environment for SNX are not favorable for bulls, presenting significant downside risks. Investors are advised to operate cautiously, manage risks, and set stop-loss orders in a timely manner.