SNX/USD Touches $3.0 Level With 8.02% Gains

The Synthetix prediction price is changing hands at $2.70 as the technical indicator Relative Strength Index (14) faces the 60-level.

Synthetix Market Price Statistic:

• Synthetix price now: $2.70
• Synthetix market cap: $661.1 million
• Synthetix circulating supply: $252.8 million
• Synthetix total supply: $314.8 million
• Synthetix coin market ranking: #76

SNX/USD Market

Key Levels:

Resistance levels: $3.20, $3.40, $3.60

Support levels: $2.00, $1.80, $1.60

SNX/USD is currently trading around $2.70 and once it manages to surpass the potential resistance of $2.90, the next target could be located at $3.00 where it trades above the 9-day and 21-day moving averages. However, a push from here could send the price straight above the upper boundary of the channel as the daily low could be spotted at the $2.40 support level. If the current level fails to hold strong, the Synthetix (SNX) could slip below the 9-day and 21-day moving averages.

Synthetix Price Prediction: Is Synthetix Ready for the Upside?

According to the daily chart, the Synthetix price is facing the upside as bulls return back into the market. Therefore, if the buyers can put more effort and push the market price towards the upper boundary of the channel, SNX/USD may likely hit the resistance levels of $3.20, $3.40, and $3.60 respectively. In addition, any bullish movement above these key resistance levels may likely encourage further buying.

Moreover, a break towards the lower boundary of the channel may bring the coin toward the critical supports at $2.00, $1.80, and $1.60. Meanwhile, looking at the technical indicator Relative Strength Index (14), Synthetix may exhibit the tendencies to follow an upward trend as the signal line moves toward the 60-level, suggesting that the market may head to the upside.

When compares with Bitcoin, the Synthetix price is attempting to cross the 9-day and 21-day moving average which may hit the nearest resistance at 1200 SAT. Therefore, unless this resistance effectively holds and the price ends up closing above it, there might not be any reason to expect a long-term bullish reversal.

On the contrary, bringing the price towards the lower boundary of the channel could refresh lows under 1000 SAT as a possible bearish continuation may likely hit the major support at 850 SAT and below. Moreover, the buyers may push the coin to the potential resistance at 1350 SAT and above as the technical indicator Relative Strength Index (14) crosses above the 50-level, suggesting more bullish signals.

Synthetix Alternatives

At the moment, the market is projecting a volatile movement where the Synthetix price may continue to follow the bullish movement. Meanwhile, considering a continuous bullish movement for this coin, SNX/USD may spike above the moving averages to hit the potential resistance level of $3.0. Nevertheless, the Fight Out (FGHT) token is a revolutionary Web3 project that aims to incentivize its users to level up their health, give rewards, and gamify these experiences in the metaverse as almost $5 million has been raised in the presale.

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