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Synthetix Price Prediction for Today, October 16: SNX/USD Trades Above $2.0 Level

Synthetix Price Prediction for Today, October 16: SNX/USD Trades Above $2.0 Level
Synthetix Price Prediction for Today, October 16: SNX/USD Trades Above $2.0 Level

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The Synthetix price prediction shows that SNX may shoot to the upside as the bulls prepare to take the coin to higher levels.

Synthetix Prediction Statistics Data:

  • Synthetix price now – $2.21
  • Synthetix market cap – $522.4 million
  • Synthetix circulating supply – 238.5 million
  • Synthetix total supply – 297.6 million
  • Synthetix Coinmarketcap ranking – #68

SNX/USD Market

Key Levels:

Resistance levels: $3.0, $3.2, $3.4

Support levels: $1.5, $1.3, $1.1

Synthetix Price Prediction for Today, October 16: SNX/USD Trades Above $2.0 Level
SNXUSD – Daily Chart

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SNX/USD is trading above $2.0 as the coin trades above the 9-day and 21-day moving averages to cross above the upper boundary of the channel. The Synthetix price may continue to move upward if the bulls strengthen the market. Meanwhile, SNX/USD could reach the resistance level of $2.5 if crosses above the channel.

Synthetix Price Prediction: SNX Gets Ready for a Spike

The Synthetix price may remain on the positive side should the coin head to the upside. Meanwhile, the technical indicator Relative Strength Index (14) is also confirming the bullish movement as the signal line moves to cross above the 50-level. Therefore, there is a higher chance that the coin may find the potential resistance levels at $3.0, $3.2, and $3.4.

On the contrary, if the Synthetix price heads toward the lower boundary of the channel, it could hit the critical supports at $1.5, $1.3, and $1.1 respectively.

Against Bitcoin, the Synthetix is also heading to the upside as the coin moves to cross above the 21-day moving average. Therefore, if the bullish movement continues, the next level of resistance may surface, and this may cause SNX/BTC to locate the key resistance at 1300 SAT and above.

SNXBTC – Daily Chart

Meanwhile, on the downside, the Synthetix price could face the nearest support at 1000 SAT. Beneath this, the critical support level could be located at 950 SAT and below. At the moment, the technical indicator Relative Strength Index (14) is moving to cross above the 50-level to increase the bullish movement. Meanwhile, if the coin retreats and crosses below the lower boundary of the channel; traders are likely to expect bearish pressure.

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