Synthetix, which broke the falling trend from July 27 and recorded an increase of close to 20 percent ( SNX), became the second highest rising coin of the day.
SNX, which has been trading in a downtrend for over a month, finally showed an increase in volume. SNX, which broke the trend and made an upward move, showed a performance of 19.10 percent. How is the technical analysis in SNX, which may show even harder moves as long as it overcomes the next resistance?
Synthetix (SNX) technical review
Direct volume purchases came in SNX, which broke the downtrend with a small price movement after it touched $1.90. The popular DeFi coin, which has been depreciating and pricing since July 27, has increased by close to 20 percent. Traded at $2.23 as of the writing of the news, SNX may set out to $2.36, $2.60, $2.77 and $2.95, respectively, in a scenario where BTC does not show sharp decreases.
If DeFi projects fall out of favor, SNX loses its momentum, or BTC pulls towards $25,200, the price will naturally shake. The points to follow as support in such a development are $2,142 – $2,042 and $1,909, respectively. With the loss of $ 1,909, the hand of the sellers will be strengthened.
