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The Synthetix price prediction shows that SNX may cross above the channel to hit the $2.20 resistance level if the bulls increase the pressure.
Synthetix Prediction Statistics Data:
- Synthetix price now – $2.04
- Synthetix market cap – $545.4 million
- Synthetix circulating supply – 270.4 million
- Synthetix total supply – 324.4 million
- Synthetix Coinmarketcap ranking – #62
SNX/USD/USD Market
Key Levels:
Resistance levels: $2.50, $2.60, $2.70
Support levels: $1.50, $1.40, $1.30
SNX/USD is hovering around the resistance level of $2.04 as the coin moves to cross above the upper boundary of the channel. However, the technical indicator Relative Strength Index (14) reveals that the market may embark on a positive movement while the signal line moves to cross above the 50-level.
Synthetix Price Prediction: SNX Price May Follow the Uptrend
The Synthetix price is changing hands at $2.04 where it faces up. If the coin breaks above the resistance level of $2.20, it could confirm the upward movement. However, any further bullish movement above the channel may locate the nearest resistance levels at $2.50, $2.60, and $2.70, while sliding toward the lower boundary of the channel could reach the support levels of $1.50, $1.40, and $1.30 respectively.
SNX/BTC Targets the Nearest Resistance
Against Bitcoin, the Synthetix price is moving above the 9-day moving average as the coin hits the daily high at 791 SAT. Meanwhile, on the downside, if the market price heads toward the lower boundary of the channel, the next support level may surface at 700 SAT which could locate further support at 650 SAT and below.
On the upside, if the bulls push the price above the upper boundary of the channel; further bullish movement may hit the potential resistance level at 900 SAT and above while the signal line of the Relative Strength Index (14) moves to cross above the 50-level. On the other hand, if it moves below this level, sellers may resume and this could bring bearish pressure into the market.
Alternatives to Synthetix
The Synthetix price may continue to rise and could probably trade near the upper boundary of the channel if the bulls could touch the resistance level of $2.20. Therefore, any further bullish movement toward the upper boundary of the channel may locate the potential resistance level at $2.20.
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