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Weekly forecast Synthetix technical chart

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMay 28, 2023 - 09:44
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.984, beginning of uptrend is expected.
  • We make sure when the resistance at 3.367 breaks.
  • If the support at 1.984 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.940 on 05/12/2023, so more gains to resistance(s) 2.575, 3.060 and maximum to Major Resistance (3.367) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 54.

Symbol Released Current Forecast
Synthetix (SNXUSD) Tue, 11 Jun 2024
Synthetix (SNXUSD) Sat, 1 Jun 2024
Synthetix (SNXUSD) Sun, 26 May 2024
Synthetix (SNXUSD) Mon, 20 May 2024
Synthetix (SNXUSD) Sun, 12 May 2024