No Result
View All Result
Subscribe
Tuesday, March 9, 2021
  • Home
  • Crypto News
  • Offers
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA Notice
  • Contact
  • Home
  • Crypto News
  • Offers
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA Notice
  • Contact
No Result
View All Result
CRYPTOCURRENCIESNEWS
No Result
View All Result
Home Crypto News

Charted: Why Synthetix’s SNX Might Rally To $20 Whereas Bitcoin Corrects

by admin
January 13, 2021
in Crypto News
Charted: Why Synthetix’s SNX Might Rally To $20 Whereas Bitcoin Corrects

Synthetix (SNX) remained in a bullish zone above $15.00, regardless of pullbacks in bitcoin and ethereum in opposition to the US Greenback. SNX worth is prone to rally in direction of $20.00 if it clears the $16.00 hurdle.

There was a gentle improve in synthetix’s SNX worth above $12.00 in opposition to the US greenback.
The traded to a brand new yearly excessive at $16.01 and settled effectively above the 100 easy shifting common (4-hours).
There’s a main rising channel forming with resistance close to $16.00 on the 4-hours chart of the SNX/USD pair (information supply from Coinbase).
The pair is prone to proceed greater in direction of $18.00 and $20.00 so long as it’s above $12.50.

SNX Might Rally Additional

After a detailed above the $12.00 and $12.50 pivot ranges, SNX noticed a gentle improve in direction of the $15.00 degree in opposition to the US Greenback. Not too long ago, there was a pointy draw back correction in bitcoin, ethereum, and different main altcoins.

Nevertheless, SNX remained in a bullish zone above $14.00 and $15.00. It even broke the $15.50 degree and traded to a brand new yearly excessive at $16.01. It’s presently consolidating positive factors above $15.00 and the 100 easy shifting common (4-hours).

An preliminary assist on the draw back is close to the $14.65 degree. It’s near the 23.6% Fib retracement degree of the current improve from the $10.31 low to $16.01 excessive. The primary main assist is close to the $14.00 degree.

Supply: SNXUSD on TradingView.com

On the upside, the bulls are dealing with hurdles close to $16.00. There may be additionally a serious rising channel forming with resistance close to $16.00 on the 4-hours chart of the SNX/USD pair. A transparent break above the $16.00 degree might open the doorways for one more rally.

Within the said case, the bulls are prone to goal a take a look at of the $18.00 degree. The following main resistance on the upside is close to the $20.00 degree.

Dips Supported?

If SNX worth struggles to proceed greater, it might right decrease under $14.50. The primary main assist is close to the $14.00 degree, under which it might take a look at the 50% Fib retracement degree of the current improve from the $10.31 low to $16.01 excessive at $13.15.

The channel assist can be close to the $13.15 zone. A draw back break under the channel assist might begin a serious draw back correction in direction of the $10.50 and $10.00 assist ranges.

Technical Indicators

4-hours MACD – The MACD for SNX/USD is gaining tempo within the bullish zone.

4-hours RSI (Relative Energy Index) – The RSI for SNX/USD is presently effectively above the 50 degree.

Main Assist Ranges – $14.65, $14.00 and $13.15.

Main Resistance Ranges – $16.00, $18.00 and $20.00.

ShareTweetShare

Related Posts

Bitcoin whales 'purchased the dip' as orders for $100K or extra hit all-time highs
Crypto News

Bitcoin whales 'purchased the dip' as orders for $100K or extra hit all-time highs

March 9, 2021
Main Swiss retailers set to debut Bitcoin reward playing cards
Crypto News

Main Swiss retailers set to debut Bitcoin reward playing cards

March 9, 2021
Korean crypto trade Bithumb toughens up its Anti-Cash Laundering measures
Crypto News

Korean crypto trade Bithumb toughens up its Anti-Cash Laundering measures

March 9, 2021
Furucombo to difficulty iouCOMBO tokens to repay victims of $15M exploit
Crypto News

Furucombo to difficulty iouCOMBO tokens to repay victims of $15M exploit

March 9, 2021
Charted: Ripple (XRP) Types Assist Base, Why It Might Rally Above $0.50
Crypto News

Charted: Ripple (XRP) Types Assist Base, Why It Might Rally Above $0.50

March 9, 2021
South African crypto companies warn opaque laws are harming the business
Crypto News

South African crypto companies warn opaque laws are harming the business

March 9, 2021

Most Read

No-loss lottery PoolTogether cracks 50 million in deposits after token airdrop

No-loss lottery PoolTogether cracks 50 million in deposits after token airdrop

February 20, 2021
Exmo crypto alternate suffers hack, halts all withdrawals

Exmo crypto alternate suffers hack, halts all withdrawals

December 21, 2020
JPMorgan Chase execs weigh in on stablecoin regulation, crypto competitors

JPMorgan Chase execs weigh in on stablecoin regulation, crypto competitors

January 16, 2021
XRP value beneficial properties 86% after Wall Road Bets’ crypto wing says 'pump it'

XRP value beneficial properties 86% after Wall Road Bets’ crypto wing says 'pump it'

January 31, 2021
Blockchain-based Gaming Platform Exceedme Publicizes Strategic Buyers And Companions

Blockchain-based Gaming Platform Exceedme Publicizes Strategic Buyers And Companions

December 27, 2020
Chainlink hits new highs, however is LINK about to drag one other 150% parabolic transfer?

Chainlink hits new highs, however is LINK about to drag one other 150% parabolic transfer?

February 10, 2021
  • Home
  • Crypto News
  • Offers
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA Notice
  • Contact

Copyright © 2020 CryptoCurrenciesNews | All Rights Reserved

No Result
View All Result
  • Home
  • Crypto News
  • Offers
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA Notice
  • Contact

Copyright © 2020 CryptoCurrenciesNews | All Rights Reserved

  • BTC

    (USD 54,264.67)

    3%
  • ETH

    (USD 1,827.98)

    104.01%
  • XRP

    (USD 0.48)

    0.0091%
  • BCH

    (USD 539.76)

    29.82%
  • EOS

    (USD 4.03)

    0.21719%
  • LTC

    (USD 199.61)

    15.22%
  • ADA

    (USD 1.19)

    0.069%
  • XLM

    (USD 0.43)

    0.0171%
  • MIOTA

    (USD 1.36)

    0.04469%
  • NEO

    (USD 41.97)

    3.52159%
  • XMR

    (USD 226.50)

    18.4381%
  • DASH

    (USD 236.36)

    26.08%
  • TRX

    (USD 0.05)

    0.00144%
  • XEM

    (USD 0.71)

    0.01018%
  • USDT

    (USD 1.00)

    -0.001%
  • VEN

    (USD 8.79)

    0.50029%