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The Synthetix price prediction reveals that SNX is likely to follow the bullish movement if the coin crosses above the channel.
Synthetix Price Statistics Data:
Synthetix price now – $2.08Synthetix market cap – $569.9 millionSynthetix circulating supply – 270.3 millionSynthetix total supply – 324.4 millionSynthetix Coinmarketcap ranking – #61
SNX/USD Market
Key Levels:
Resistance levels: $2.50, $2.60, $2.70
Support levels: $1.70, $1.60, $1.50

According to the daily chart, SNX/USD could hit the resistance level of $2.10 in the next positive step. However, the Synthetix price is currently trading at $2.08, it could move to cross above the 9-day and 21-day moving average in other to touch the resistance level of $2.10.
Synthetix Price Prediction: SNX/USD May Follow the Upward Movement
The Synthetix price is beginning to follow an upward movement. A break above the upper boundary of the channel could encourage more buyers to increase their entries and may locate the resistance levels at $2.50, $2.60, and $2.70. On the downside, if the price breaks toward the lower boundary of the channel, the sell-off could gain traction with the next focus at the support level of $1.90.
Moreover, if the coin slides below the $1.90 support, the downside pressure may increase while the critical supports could be located at $1.70, $1.60, and $1.50. Meanwhile, the technical indicator Relative Strength Index (14) is moving to cross above the 50-level, indicating bullish signals.
SNX/BTC Faces the Upside
Against Bitcoin, the Synthetix price is hovering below the 9-day and 21-day moving averages but a daily close above the resistance level of 800 SAT could encourage the bulls to extend the rally towards 900 SAT and above. Meanwhile, any bearish movement toward the lower boundary of the channel could reverse the Synthetix price direction to the daily support at 700 SAT.

However, any further bearish movement could take the coin to the support of 670 SAT and below. Therefore, there is a possibility that SNX/USD may continue the bullish trend as the technical indicator Relative Strength Index (14) faces the north with the signal likely to cross above the 50-level.
Synthetix Alternatives
Looking at the daily chart, if the Synthetix price crosses above the 9-day and 21-day moving averages, it is likely to break toward the upper boundary of the channel. On that note, the daily chart also reveals that once this comes to focus, this could confirm the presence of bulls in the market.
On that note, the Wall Street Memes token is now in the final stage as this could be the last chance to buy raising over $25 million in the presale. Moreover, the token is making waves in the crypto domain as more buyers are encouraged to invest before the expiration of its final presale stage.
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September has historically been a challenging month for Bitcoin ($BTC ) and many altcoins, often marked by price declines. This trend has led to the adage that September is a "red month" in the cryptocurrency market, as many investors brace for potential dips. However, the narrative among some analysts suggests a bullish outlook following the end of the month, particularly after September 29th, when a potential market recovery could begin.

Historical Context of September's Performance
Historically, September has seen Bitcoin's price drop, with data indicating that it has been one of the worst-performing months for the cryptocurrency. This trend is attributed to various factors, including profit-taking after summer rallies, seasonal trading patterns, and external economic influences. For instance, September 2023 saw Bitcoin's price decline significantly, consistent with past performances where the cryptocurrency often struggles during this month.Despite these historical trends, many analysts advise investors to "HODL" (hold on for dear life) and consider buying the dip. This strategy is rooted in the belief that the market will rebound after the typical September slump, leading into a more bullish fourth quarter.

Future Projections and Market Sentiment
Looking ahead, several analysts are optimistic about Bitcoin's trajectory post-September. Predictions suggest that after September 29th, Bitcoin could enter a bullish phase, potentially reaching new highs. For example, forecasts for October indicate that Bitcoin might see a significant increase, with potential prices ranging from $74,539 to $89,807, depending on market conditions and investor sentiment.Key factors contributing to this optimistic outlook include:
Federal Reserve Policies: Anticipated rate cuts by the Federal Reserve could lead to increased liquidity in the market, encouraging investment in riskier assets like cryptocurrencies.Political Climate: The upcoming U.S. elections, with candidates showing pro-crypto stances, could further bolster market confidence and regulatory support, enhancing institutional investment.Institutional Interest: As more institutions consider Bitcoin and other cryptocurrencies as viable assets, the demand could significantly impact prices, especially if government bodies begin accumulating BTC.
Conclusion: Bullish on Long-Term Crypto

While September may present challenges, the prevailing sentiment among many investors and analysts is one of cautious optimism. The advice to "HODL strong and buy the dip" reflects a belief in the long-term potential of Bitcoin and the broader cryptocurrency market. As we approach the end of September, the anticipation of a market turnaround could set the stage for a robust bull run, making this an opportune time for investors to position themselves for future gains.In summary, while September may be historically red for Bitcoin, the potential for a bullish recovery post-29th is strong, supported by favorable macroeconomic conditions and increasing institutional interest.
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