Synthetix Price Prediction: SNX May Continue to Trend Higher

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Synthetix (SNX) Price Prediction – July 14
There have been indications that the Synthetix market price may continue to trend higher against the valuation of the US Dollar. Price is presently trading around $2.62 at an average of 4.36 percent positive. And its last seven days of operations have witnessed a low and a high of $2.24 and $2.81.

Synthetix (SNX) Price Statistics:
SNX price now – $2.64
SNX market cap – $280 million
SNX circulating supply – 114.8 million
SNX total supply – 215.3 million
Coinmarketcap ranking – #95

SNX/USD Market
Key Levels:
Resistance levels: $3.50, $4, $4.50
Support levels: $1.50, $1, $0.50
SNX/USD – Daily Chart
The SNX/USD daily chart reveals the crypto market may continue to trend higher more from around the trend line of the smaller SMA. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators have moved southbound to touch an area of the 20 range. And they are now trying to cross the lines northbound to suggest the probability of seeing swing highs at a lengthy pace.

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Will the SNX/USD market keep up with a swinging high over the $2 level?

Indicators are having it that the SNX/USD market operations may continue to trend higher above the $2 level in the subsequent motions. The baseline at the value line mentioned pose the point long-position takers need to be wary of should the price drop suddenly toward it from the current trading spot. At this point, investors may start putting in for some positions on a long-term run basis to maximize profits afterward.

On the downside of the technical analysis, the SNX/USD market sellers may have to wait for the price reactions around the 50-day SMA trend line at the $3.27 level before re-launching a sell order. A touch for reelection around the value line may in no time result in a correction. If the crypto economy fails to push northward from the trend line of the 14-day SMA in the long run, the price may fall gradually toward its previous low.

SNX/BTC Price Analysis

Synthetix has been noticed, pushing against the trending ability of Bitcoin. The situation has led to letting the 14-day SMA indicator be partially above the 50-day indicator. Candlesticks had recently formed downward to showcase a correction before finding support around the SMAs to resume an upward motion. The Stochastic Oscillators have crossed northbound from the oversold region to touch the 40 range. IT shows the base trading crypto is in control of the trade, pairing with its flagship countering crypto at the moment.

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