Will SNAP Token Rise More To Reach Higher Levels Or Slump Soon?

Snap Token (SNAP) is the native cryptocurrency of SnapEx, which is a derivatives trading platform in Asia. SnapEx offers a variety of trading products, including contracts for differences (CFDs), leveraged tokens, futures, and over-the-counter (OTC) trading. 

Correspondingly, SnapEx focuses on market-making and portfolio management services, aiming to provide a seamless and liquid trading experience with competitive spreads and continuous order execution. Mainly, the platform’s mission is to empower individuals and businesses in the digital age by offering tools and solutions for decentralized finance (DeFi), digital assets, and smart contracts.

At the time of writing, the live Snap token price as of the latest data is around $0.0004923 with a 24-hour trading volume of approximately 14.58K. The token has experienced a massive decline of 17.65% in the last 24 hours, and the market cap is 135.67 Million SNAP, as per CoinMarketCap.

SNAP Price Prediction On Daily Chart

The SNAP token has shown an enormous rally in the last three months and showed potential in the crypto asset.

Moreover, the SNAP asset is exhibiting bullish strength and rising capacity as it has already jumped above dynamic supports of major 20, and 50-Day EMA bands. Also, the SNAP asset is displaying bullish behavior as MACD is above the zero line with a broad histogram, suggesting that the gains could be extended.

The SNAP asset is showing bullish signs and it has the potential to grow further. It has performed well in the past week by 77.39%, month by 166.76%, and quarter by 182.95%, indicating a strong uptrend.

Therefore, if the asset price manages to sustain its current decline it could bounce back from the current level and shatter hurdles above and reach new altitudes. The next goal for the price could be to reach $0.001000 and the in-between resistance is $0.000700.

On the flip side, if the crypto price fails to stay above the $0.0004650 level, it could decline further.

Summary

The Snap token (SNAP) experienced significant market movements. At press time, SNAP’s price was approximately $0.0004923, with a 24-hour trading volume of around 14.58K. Despite a recent 17.65% drop, the market cap stands at 135.67 Million SNAP.

On the daily chart, SNAP has rallied impressively over the last three months, showing bullish strength. It had surpassed key EMA support levels and the MACD indicator suggests further gains are possible. The token’s performance has been strong, with increases of 77.39% weekly, 166.76% monthly, and 182.95% quarterly.

If SNAP maintains its current momentum, it could recover from its recent decline, aiming for a price target of $0.001000, with intermediate resistance at $0.000700. Conversely, if it drops below $0.0004650, there could be a further downturn.

Technical Levels

Support Levels: $0.0004650

Resistance Levels: $0.0007000

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.