Synthetix (SNX), which broke the falling trend from July 27 and increased by nearly 20 percent, became the second highest rising coin of the day.
SNX, which has been trading in a downward trend for over a month, finally showed an increase in volume. SNX, which broke the trend and made an upward move, showed a performance of 19.10 percent. What is the technical analysis about SNX, which may exhibit even harsher movements as long as it overcomes its next resistance?
Synthetix (SNX) technical review
Direct volume purchases were made in SNX, which broke the downward trend with a small price movement after touching $ 1.90. The popular DeFi coin, which has been losing value since July 27, increased by nearly 20 percent. SNX, which was traded at $ 2.23 as of the writing of the news, may head towards $ 2.36 – 2.60 – 2.77 and $ 2.95, respectively, in a scenario where BTC does not exhibit sharp declines.
DeFi projects falling out of favor, SNX losing momentum, or BTC retreating towards $25,200 will naturally shake the price. The points to be followed as support in such a development are 2,142 – 2,042 and 1,909 dollars, respectively. With the loss of $1,909, the sellers’ hand will become stronger.
43895
