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- Synthetix price now: $2.56<\/li>\n
- Synthetix market cap: $842.1 million<\/li>\n
- Synthetix circulating supply: $327.7 million<\/li>\n
- Synthetix total supply: $328.1 million<\/li>\n
- Synthetix coin market ranking: #93<\/li>\n<\/ul>\n
SNX\/USD Market<\/h2>\n
Key Levels:<\/p>\n
Resistance levels: $4.00, $4.15, $4.30<\/p>\n
Support levels: $1.15, $1.00, $0.85<\/p>\n
![\"Synthetix](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/SNXUSD_07052024.png\")
SNXUSD – Daily Chart<\/figcaption><\/figure>\n SNX\/USD<\/a> is currently trading around $2.56 and once it manages to surpass the potential resistance of $2.60, the next target could be located at $3.00 where it could trade above the 9-day and 21-day moving averages. However, a push from here could send the price straight toward the upper boundary of the channel while the daily low could be spotted at the $2.33 support level.<\/p>\n
Synthetix Price Prediction: Would SNX\/USD Begin the Upward Movement?<\/h2>\n
Looking at the daily chart, the Synthetix bulls are now coming back into the market. Therefore, if the buyers can put more effort and push the market price above the moving averages, SNX\/USD may likely hit the resistance levels of $4.00, $4.15, and $4.30 respectively. Moreover, any bullish movement above these key resistance levels may likely encourage further buying.<\/p>\n
Nonetheless, any bearish break below the lower boundary of the channel may bring the coin toward the critical supports at $1.15, $1.00, and $0.85. Meanwhile, looking at the daily chart, Synthetix may tend to follow an upward trend if the 9-day MA crosses above the 21-day MA.<\/p>\n
SNX\/BTC Faces the South<\/h2>\n
Against Bitcoin, the Synthetix price<\/a> is hovering below the 9-day and 21-day moving averages, aiming to head to the north. Meanwhile, unless this resistance effectively holds and the price ends up closing above the moving averages, there might not be any reason to expect a long-term bullish reversal.<\/p>\n
![\"Synthetix](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/05\/SNXBTC_07052024.png\")
SNXBTC – Daily Chart<\/figcaption><\/figure>\n On the contrary, heading toward the lower boundary of the channel could refresh lows under 3500 SAT as a possible bearish continuation may likely hit the major support at 2600 SAT and below. Moreover, buyers may push the coin to the potential resistance at 5200 SAT and above if they can push the market price above the moving averages, which could suggest bullish movement within the channel.<\/p>\n
@Abreufx_ informed his 2k+ followers on X (formerly Twitter) that $SNX appears to have already undergone a correction. 🤔 The formation of a falling wedge pattern, which is typically bullish, is evident for $SNX. 🤓 Should the price successfully break out from this pattern, a bullish surge of 100-120% can be anticipated.🌊<\/p>\n
Synthetix Alternatives<\/h2>\n
Synthetix may experience an upward trend, potentially breaking above the moving averages if buying pressure from bulls intensifies. However, if bullish momentum weakens, Synthetix’s price might find support within the channel, though any market retracement could push it toward the lower boundary. In comparison to Synthetix’s $842.1 million market capitalization, $DOGEVERSE<\/a> is in its final presale stages. While Synthetix has an established presence, Dogeverse offers an enticing opportunity with the potential for rapid price growth. With over $15 million already raised in its ongoing presale, the Dogeverse token is on a promising trajectory.<\/p>\n
Ending Soon: 100x Presale Opportunity!<\/p>\n