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Weekly forecast Synthetix technical chart
Symbol SNXUSD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.905 to 1.617). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.905)
  • Ending of entry zone (1.617)

DateSeptember 29, 2023 - 23:07
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.395, beginning of uptrend is expected.
  • We make sure when the resistance at 2.650 breaks.
  • If the support at 1.395 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 peak is formed in daily chart at 3.225 on 07/21/2023, so more losses to support(s) 1.905, 1.617 and minimum to Major Support (1.395) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 47.

Take Profits:

  1. 2.289
  2. 2.650
  3. 3.060
  4. 3.367
  5. 4.405
  6. 7.200
  7. 8.190
  8. 11.800
  9. 15.850
  10. 25.835
  11. 28.980
Click on the level to view price action history.

Symbol Released Current Forecast
Synthetix (SNXUSD) Sat, 20 Jul 2024
Synthetix (SNXUSD) Sun, 30 Jun 2024
Synthetix (SNXUSD) Sat, 22 Jun 2024
Synthetix (SNXUSD) Sat, 15 Jun 2024
Synthetix (SNXUSD) Tue, 11 Jun 2024