Rose

Synthetix

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Synthetix price prediction suggests the SNX crypto might perform well in 2024 and reward the long-term investors.</a> </li> 
 <li> <span>2</span> <a>The SNX price showed a steep rally and rose by approximately 40% in the current month.</a> </li> 
 <li> <span>3</span> <a>Synthetix crypto price is in an uptrend but looks mildly overstretched.</a> </li> 
</ul> 
<p>Synthetix price prediction suggests SNX is inside the bulls’ grip and it may show outperformance in the coming months. It rises upward by forming higher high swings and succeeds in breaking the $4.00 hurdle.&nbsp;</p> 
<p>The SNX coin price displayed a steep rally and hitting the year-till-date high shows the strength of the bulls. Meanwhile, the buying volume has increased. It denotes that some genuine buyers and crypto whales might have taken long positions.&nbsp;</p> 
<p>Synthetix crypto seems to be in an uptrend but the price has gone far away from the 50-day and 200-day EMAs. So, a minor selloff may trigger anytime from higher levels due to which price might retrace down to the EMA.&nbsp;</p> 
<p>The chart pattern of this coin looks highly bullish and no signs of weakness are visible. So, if the price retraces downward, it should be treated as an opportunity for the bulls to build fresh longs.&nbsp;</p> 
<p>At present, <a href="https://www.thecoinrepublic.com/2023/11/15/snx-price-prediction-2024-to-2027-will-snx-hit-50-soon/" target="_blank" rel="noreferrer noopener">Synthetix </a>price is trading at $4.632 with an intraday increase of 5.51%. In the last 24 hours, the trading volume surged by 109%. Moreover, the volume to market cap was recorded at 17.10% which denotes enough liquidity.</p> 
<h2 class="wp-block-heading" id="strong-will-synthetix-price-retrace-down-or-continue-the-upside-strong"><strong>Will Synthetix Price Retrace Down Or Continue the Upside?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="711" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-300.png" alt="Synthetix Price Rose 40%; Will SNX Go Beyond $6 in Jan 2024?" class="wp-image-183856" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-300.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-300-300x133.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-300-1024x455.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-300-768x341.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-300-1536x683.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-300-750x333.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-300-1140x507.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://www.tradingview.com/x/60PXwfSC/">SNX/USDT</a> daily chart by Tradingview
  </figcaption>
 </figure>
</div> 
<p>Synthetix price prediction is favoring the bulls and suggests buyers may continue its dominance. The price looks mildly overstretched so minor retracement is expected which will be good for better price discovery.&nbsp;</p> 
<p>On the higher side, the $5.000 to $5.500 range may act as a supply zone for the bulls. So, it will be interesting to see how the price reacts near the resistance levels.&nbsp;</p> 
<p>If the buyers succeed in taking control of the supply zone, then be prepared for the next phase of the rally. However, if the SNX price faces rejection, it may retrace back to the EMA.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-snx-price-analysis-bulls-look-very-aggressive-strong"><strong>SNX Price Analysis: Bulls Look Very Aggressive</strong></h3>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_8646c"></div> 
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": "900",
  "height": "550",
  "symbol": "BINANCE:SNXUSDT",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;RSI",
    "STD;Supertrend"
  ],
  "container_id": "tradingview_8646c"
}
  );
  </script> 
</div>  
<p>The SNX coin price rose for nine consecutive weeks and formed a highly bullish pattern. The bulls look very aggressive so any short-term downfall will have a high probability of giving a bounce.</p> 
<p>The price action says, a rally in the<a href="https://www.thecoinrepublic.com/2023/11/15/snx-price-prediction-2024-to-2027-will-snx-hit-50-soon/" target="_blank" rel="noreferrer noopener"> SNX crypto</a> has just begun and more scope of upside is open.&nbsp;</p> 
<p>The MACD curve displayed a positive crossover indicating the bullish momentum may continue. Whereas, the RSI at 73 entered into the overbought territory, so it may raise concern for the short-term bulls.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Synthetix price prediction remains highly bullish for 2024 and suggests more upside is pending. The chart pattern of SNX crypto favors the bulls and shows the confidence of the buyers.&nbsp;</p> 
<p>The analysis suggests if buyers succeed in taking control of the supply zone, the SNX price may fly to $6 and above levels by the end of January 2024.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $5.000 and $5.500</li> 
 <li>Support levels: $3.315 and $2.494</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Synthetix Price Rose 40%; Will SNX Go Beyond $6 in Jan 2024?

Table of Contents

Thecoinrepublic.com

Other articles published on Dec 11, 2023

Crypto Fund Sets Sights On Animoca Brands And Chainalysis In $500 Million Investment Drive

HTX Exchange Sees $258M Outflows Post-Recovery from Exploits

Crypto Braces for Turbulence: Inflation Issues & Fed Rate Dilemma

Dogecoin Celebrates Tenth Birthday With $0.1, Analyst Predicts That Meme Moguls Will Dominate Shi...

Bitcoin Starts the Week with a Critical Drop: What Does It Take to Recover?

Market Analyst Jake Wujastyk Bullish on Shiba Inu, Immutable Grows 100% and Meme Moguls Projected...

Join our free newsletter for daily crypto updates!