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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 (2.060 to 1.814). 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 (2.060)
  • Ending of entry zone (1.814)

DateJanuary 22, 2023 - 22:31
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 4.405 breaks.
  • If the support at 1.395 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.395 on 12/30/2022, so more gains to resistance(s) 2.734, 3.550 and maximum to Major Resistance (4.405) 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 75.

Take Profits:

  1. 2.734
  2. 3.550
  3. 4.405
  4. 6.070
  5. 8.190
  6. 11.800
  7. 15.850
  8. 18.511
  9. 23.089
  10. 25.835
  11. 28.980
Click on the level to view price action history.

Symbol Released Current Forecast
Synthetix (SNXUSD) free Sat, 23 Mar 2024
Synthetix (SNXUSD) Sun, 17 Mar 2024
Synthetix (SNXUSD) free Sun, 10 Mar 2024
Synthetix (SNXUSD) free Sun, 3 Mar 2024
Synthetix (SNXUSD) Sat, 24 Feb 2024