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The Synthetix price prediction may need to stage a meaningful short-term rally for the coin to see the resistance level of $2.00 level.
Synthetix Prediction Statistics Data:
- Synthetix price now – $1.92
- Synthetix market cap – $519.9 million
- Synthetix circulating supply – 271 million
- Synthetix total supply – 325.4 billion
- Synthetix Coinmarketcap ranking – #61
SNX/USD Market
Key Levels:
Resistance levels: $2.30, $2.40, $2.50
Support levels: $1.55, $1.45, $1.35
SNX/USD is seen moving in a narrow trading range after a bullish rally failed to materialize. The early daily rally toward the $2.10 level failed to generate sustainable gains, with SNX/USD hovering within the 9-day and 21-day moving averages. However, the longer that the Synthetix price fails to rally from current trading levels, the greater the chance that we may see the coin falling to a new monthly trading low.
Synthetix Price Prediction: Synthetix (SNX) May Head to the Upside
The Synthetix price is likely to stay above the 9-day moving average, but the longer the coin fails to rally from current trading levels, the greater the chance that traders may see the coin falling. On the contrary, any bearish movement toward the lower boundary of the channel could touch the support levels of $1.55, $1.45, and $1.35.
Nonetheless, the daily chart highlights that SNX/USD bulls may re-group and energize the market by pushing the price above the upper boundary of the channel. However, any further bullish movements above this barrier could locate the resistance levels of $2.30, $2.40, and $2.50.
SNX/BTC Could Spike Above the Moving Averages
Against Bitcoin, the Synthetix (SNX) price is moving to cross above the 9-day and 21-day moving averages. However, the coin may begin to follow the upward movement if it crosses above the nearest resistance level of 750 SAT.
Moreover, the 9-day moving average may need to cross above the 21-day moving average to confirm the bullish movement within the channel. Meanwhile, any further bullish movement could lead to a resistance level of 800 SAT and above. On the contrary, falling below the lower boundary of the channel may touch the support level of 550 SAT and below.
Synthetix Alternatives
The Synthetix price is moving to cross above the 21-day moving average while the $1.90 support level remains the critical support where the price has been holding for some time now. However, since a few days ago, SNX/USD has been trading bullishly and this could make the coin cross above the lower boundary of the channel.
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