- Synthetix token again failed to move above the resistance area after several attempts.
- During the retracement phase, SNX price takes a support above the middle band of the Bollinger Bands indicator on the daily price scale.
- The Synthetix token belonging to the bitcoin pair is up 13.1% in the green zone at 0.0001306 satoshis.
Synthetix coin again failed to recover above the resistance area ($3.3 to $3.7 area). Meanwhile, the SNX token price action is facing a daily and hourly retracement phase on the lower time frame.
Despite the rally, the bears are still active near the $3.3 resistance area. The bulls faced resistance several times during the bullish trend. Hence, the bulls still need to consolidate the coin to keep the price above this area.
Trading volume reflects highly volatile sessions over the past several days. Increase in volume during the retracement phase shows the strength of the bears. Similarly, last night traders saw an increase of 90% in the last 24 hours.
Meanwhile, at the time of writing, the Synthetix token was trading at the $2.6 mark. Thus, according to CMC, the market cap finally reached above $300 million, with a gain of 7.8% in the last 24 hours. Furthermore, the Synthetix token belonging to the bitcoin pair is in the green zone at 13.1% at 0.0001306 satoshis.
Bulls found support during the retracement
In the context of the daily price scale, during the retracement phase, SNX price takes a support above the mid-band of the Bollinger Bands indicator.
Besides, the daily RSI indicator is again attempting to move above the semi-line. Above this resistance area, the bulls turn aggressive for a bullish trend.
សន្និដ្ឋាន
A bounce-back is expected in Synthetix tokens. Also the RSI indicator tries to move above the semi-line again. Above this zone, bulls can see an uptrend.
កម្រិតគាំទ្រ - 2.3 ដុល្លារនិង 2.0 ដុល្លារ
កម្រិត Resistance - $3.0 និង $3.5
ការមិនទទួលខុសត្រូវ
ទស្សនៈ និងគំនិតដែលសរសេរដោយអ្នកនិពន្ធ ឬមនុស្សណាម្នាក់ដែលមានឈ្មោះក្នុងអត្ថបទនេះគឺសម្រាប់តែគំនិតព័ត៌មានប៉ុណ្ណោះ ហើយពួកគេមិនបង្កើតហិរញ្ញវត្ថុ ការវិនិយោគ ឬដំបូន្មានផ្សេងទៀតទេ។ ការវិនិយោគលើ ឬជួញដូរទ្រព្យសកម្មគ្រីបតូមកជាមួយហានិភ័យនៃការបាត់បង់ហិរញ្ញវត្ថុ។
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Source: https://www.thecoinrepublic.com/2022/06/29/synthetix-price-analysis-snx-market-cap-reaches-300-million-bulls-watching-support-levels/