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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 – $2.08
Synthetix market cap – $569.9 million
Synthetix circulating supply – 270.3 million
Synthetix total supply – 324.4 million
Synthetix 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.
