Synthetix Price Prediction for Today, November 29 – SNX Technical Analysis

The Synthetix price prediction reveals that SNX may begin to form higher as the bears may soon lose grip over the coin.

Synthetix Prediction Statistics Data:

• Synthetix price now – $3.31
• Synthetix market cap – $977.1 million
• Synthetix circulating supply – 291.6 million
• Synthetix total supply – 327.5 million
• Synthetix CoinMarketCap ranking – #53

SNX/USD Market

Key Levels:

Resistance levels: $4.0, $4.2, $4.4

Support levels: $2.7, $2.5, $2.3

SNX/USD is hovering above the 9-day and 21-day moving averages while the $3.2 support level remains the critical support where the price has been holding for some time now. However, SNX/USD has been trading within the moving averages and this could make the coin cross above the upper boundary of the channel.

Synthetix Price Prediction: Synthetix (SNX) May Move Higher

The Synthetix price may continue to rise and could probably cross the channel if the bulls could hold the $3.5 level. Therefore, any further bullish movement above the upper boundary of the channel may locate the potential resistance levels at $4.0, $4.2, and $4.4.

Nevertheless, any bullish movement within the channel may be invalidated if the bears break below the 21-day moving average and head toward the lower boundary of the channel. However, if the bears increase the pressure, it could reach the supports at $2.7, $2.5, and $2.3. Moreover, the 9-day MA remains above the 21-day MA which could push the coin in the positive direction.

SNX/BTC Keeps Ranging

Against Bitcoin, the Synthetix price is attempting to cross above the 9-day moving average at 882 SAT. Meanwhile, the long-term moving averages may likely push the coin to the upside as the market could be starting a new trend by crossing above the channel.

However, if the buyers could push the price to the upside, higher resistance could be located at 1100 SAT and above. Moreover, should the bulls fail to move the current market value above the aforementioned barrier, the bears may step back into the market, and the critical support level could be found at 700 SAT and below.

Alternatives to Synthetix

The Synthetix price may likely rise to the upside which could probably trade near the upper boundary of the channel if the bulls resume into the market. Meanwhile, the Synthetix price may also create additional support if the bulls fail to resume back into the market. But, the widespread retracement on the market could bring the coin toward the lower boundary of the channel

Nevertheless, in comparison to Synthetix (SNX), which boasts a market capitalization of $978 million, and Bitcoin Minetrix which is in its early stages. Despite Synthetix’s established position, Bitcoin Minetrix presents a promising opportunity, showing potential for rapid price growth. The token has already raised an impressive $4.5 million in its ongoing presale.