Synthetix Price Prediction: SNX Rebounds; Price Faces $3.0 Level

The Synthetix (SNX) price prediction sees a 6.98% price increase over the past 24 hours of trading as the cryptocurrency touches $2.5

Synthetix Prediction Statistics Data:

• Synthetix price now – $2.42
• Synthetix market cap – $4 billion
• Synthetix circulating supply – 71 million
• Synthetix total supply – 84 million
• Synthetix Coinmarketcap ranking – #67

SNX/USD Market

Key Levels:

Resistance levels: $3.0, $3.2, $3.4

Support levels: $1.7, $1.5, $1.3

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SNX/USD gains a 6.98% price rise over the past 24 hours of trading as the cryptocurrency bounced from $2.15 to the $2.50 resistance level. The Synthetix price may face the upside but the red line of the 9-day MA crosses below the green line of the 21-day MA. At the time of writing, the movement is shifting back into the bullish favor, with the technical indicator Relative Strength Index (14) crossing above the 40-level.

Synthetix Price Prediction: Synthetix (SNX) Ready for a Spike

The Synthetix (SNX) price may need to rise above the resistance level of $2.5 if the buyers push the price above the 21-day moving average. On the contrary, traders may consider the market as bearish if the sellers take the market movement to the lower boundary of the channel.

However, towards the upside, the first level of resistance lies at $2.5, while the potential resistance levels lie at $3.0, $3.2, and $3.4. Moreover, if the sellers push SNX/USD beneath the lower boundary of the channel, traders may expect supports to be located at $1.7, $1.5, and $1.3 while the technical indicator Relative Strength Index (14) faces the north to give more bullish signals.

When compares with Bitcoin, SNX is trading near the 9-day moving average but has yet to cross above the 21-day moving average. According to the daily chart, the coin is likely to face the upper boundary of the channel as the nearest resistance level may touch 1300 SAT. Above this, higher resistance lies at 1500 SAT and above.

On the other hand, if the selling pressure creates a fresh low below the 9-day moving average, lower support may be found at 1000 SAT and below. The technical indicator Relative Strength Index (14) is crossing above the 40-level, which shows that the market is preparing for the upward movement.