Synthetix is Trading 9.44% Above Our Price Prediction for Aug 10, 2022


Synthetix is Trading 9.44% Above Our Price Prediction for Aug 10, 2022

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

  • Synthetix is up 4.15% today against the US Dollar
  • SNX/BTC increased by 3.65% today
  • Synthetix is currently trading 9.44% above our prediction on Aug 10, 2022
  • Synthetix gained 48.18% in the last month and is down -60.48% since 1 year ago
Synthetix price $ 3.90
Synthetix prediction $ 3.57 (-8.61%)
Sentiment Bullish
Fear & Greed index 31 (Fear)
Key support levels $ 3.65, $ 3.52, $ 3.37
Key resistance levels $ 3.93, $ 4.08, $ 4.21

SNX price is expected to drop by -8.61% in the next 5 days according to our Synthetix price prediction

is trading at $ 3.90 after gaining 4.15% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 3.59% in the same time period. SNX performed well against BTC today and recorded a 3.65% gain against the world’s largest cryptocurrency.

According to our Synthetix price prediction, SNX is expected to reach a price of $ 3.57 by Aug 10, 2022. This would represent a -8.61% price decrease for SNX in the next 5 days.

SNX Price Prediction Chart

Buy/Sell Synthetix

What has been going on with Synthetix in the last 30 days

Synthetix has been displaying a positive trend recently, as the coin gained 48.18% in the last 30-days. The medium-term trend for Synthetix has been bearish, with SNX dropping by -17.53% in the last 3 months. The long-term picture for Synthetix has been negative, as SNX is currently displaying a -60.48% 1-year price change. On this day last year, SNX was trading at $ 9.88.

Synthetix reached its all-time high price on Feb 14, 2021, when the price of SNX peaked at $ 28.63. The current SNX cycle high is $ 4.38, while the cycle low is at $ 1.44. SNX has been displaying high volatility recently – the 1-month volatility of the coin is at 16.67. Synthetix recorded 16 green days in the last 30 days.

Synthetix technical analysis for today – Aug 05, 2022

The sentiment in the Synthetix markets is currently Bullish, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 3.65, $ 3.52 and $ 3.37, while $ 3.93, $ 4.08 and $ 4.21 are the key resistance levels.

Bullish sentiment for Synthetix

21 indicators are currently signaling a bullish prediction for Synthetix, while 7 indicators are showing a bearish forecast. With 75% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Synthetix.

Crypto market is currently experiencing Fear

Currently, the Fear & Greed index is at 31 (Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Synthetix moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Synthetix is positioned in the market right now.

Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential
MA3 $ 3.72 (BUY) $ 3.70 (BUY)
MA5 $ 3.67 (BUY) $ 3.72 (BUY)
MA10 $ 3.62 (BUY) $ 3.65 (BUY)
MA21 $ 3.27 (BUY) $ 3.39 (BUY) $ 3.81 (BUY) $ 3.62 (BUY)
MA50 $ 2.82 (BUY) $ 3.09 (BUY) $ 6.15 (SELL) $ 5.49 (SELL)
MA100 $ 3.03 (BUY) $ 3.29 (BUY) $ 8.84 (SELL) $ 6.42 (SELL)
MA200 $ 4.00 (SELL) $ 4.25 (SELL)
Period Value Action
RSI (14) 59.72 NEUTRAL
Stoch RSI (14) 0.00 BUY
Stochastic Fast (14) 62.90 NEUTRAL
Commodity Channel Index (20) 66.67 NEUTRAL
Average Directional Index (14) 36.50 SELL
Awesome Oscillator (5, 34) 0.70 NEUTRAL
Momentum (10) 0.77 NEUTRAL
MACD (12, 26) 0.02 NEUTRAL
Williams Percent Range (14) -37.10 NEUTRAL
Ultimate Oscillator (7, 14, 28) 44.90 NEUTRAL
VWMA (10) 3.78 BUY
Hull Moving Average (9) 3.63 BUY
Ichimoku Cloud B/L (9, 26, 52, 26) 3.29 NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Synthetix is at 59.72, suggesting that SNX is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Synthetix over the last 50 days. Currently, Synthetix is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the SNX closing price for the last 200 days. SNX is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Synthetix prediction

After considering the above factors, we can conclude that the current forecast for Synthetix price prediction is Bullish. SNX would have to decrease by -8.61% to hit our $ 3.57 target within the next five days. Moving forward, it will be important to monitor the SNX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Synthetix price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.



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