๐Hi, I hope you have a Great Weekend๐ฅณ.
๐Today, I want to share with you an analysis of the Synthetix(SNX) project, which can increase the price by more than ๐โ20%๐ in the short-term.
๐What Is Synthetix (SNX)โ๏ธโ
Synthetix is building a decentralized liquidity provisioning protocol that any protocol can tap into for various purposes. Its deep liquidity and low fees serve as a backend for many exciting protocols on both Optimism and Ethereum. Many user-facing protocols in the Synthetix ecosystem, such as Kwenta (Spot and Futures), Lyra (Options), Polynomial (Automated Options), and 1inch & Curve (Atomic Swaps), tap into Synthetix liquidity to power their protocols. Synthetix is built on Optimism and Ethereum mainnet. The Synthetix Network is collateralized by SNX, ETH, and LUSD, enabling the issuance of synthetic assets (Synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset. This pooled collateral enables an array of on-chain, composable financial instruments backed by liquidity from Synthetix. Some of the most exciting upcoming releases from SNX are Perps V2, which hopes to enable low-fee on-chain futures trading through the usage of off-chain oracles, and Synthetix V3, which aims to rebuild the protocol to achieve its earliest goal, being a fully permissionless derivatives protocol.
๐โโ๏ธSynthetix (SNX) has been moving in a Descending Channel for about 40 days and is currently moving near the ๐กPotential Reversal Zone(PRZ)๐ก, โซ๏ธTime Reversal Zone(TRZ)โซ๏ธ, and Support line.
๐กAlso, we can see Regular Divergence(RD+) between two Consecutive Valleys.
๐I expect Synthetix (SNX) to start rising soon and go UP to at least the top of the descending channel after breaking the Resistance line and possibly breaking this channel.
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SNXUSD๐(SPOT)
๐ขPosition: Long
โ Entry Point: 3.280 USDย (Stop Limit Order)
โ๏ธStop Loss: 2.880 USD
๐ฐTake Profit:
๐ฏ3.679 USD RR==1.00
๐ฏ3.987 USD (Over โ20%)
Risk-To-Reward: 1.77
Please don't forget to follow capital management โ ๏ธ
Please pay attention to the style of opening the position.โ ๏ธ
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โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Synthetix Analyze (SNXUSD), 4-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
๐Today, I want to share with you an analysis of the Synthetix(SNX) project, which can increase the price by more than ๐โ20%๐ in the short-term.
๐What Is Synthetix (SNX)โ๏ธโ
Synthetix is building a decentralized liquidity provisioning protocol that any protocol can tap into for various purposes. Its deep liquidity and low fees serve as a backend for many exciting protocols on both Optimism and Ethereum. Many user-facing protocols in the Synthetix ecosystem, such as Kwenta (Spot and Futures), Lyra (Options), Polynomial (Automated Options), and 1inch & Curve (Atomic Swaps), tap into Synthetix liquidity to power their protocols. Synthetix is built on Optimism and Ethereum mainnet. The Synthetix Network is collateralized by SNX, ETH, and LUSD, enabling the issuance of synthetic assets (Synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset. This pooled collateral enables an array of on-chain, composable financial instruments backed by liquidity from Synthetix. Some of the most exciting upcoming releases from SNX are Perps V2, which hopes to enable low-fee on-chain futures trading through the usage of off-chain oracles, and Synthetix V3, which aims to rebuild the protocol to achieve its earliest goal, being a fully permissionless derivatives protocol.
๐โโ๏ธSynthetix (SNX) has been moving in a Descending Channel for about 40 days and is currently moving near the ๐กPotential Reversal Zone(PRZ)๐ก, โซ๏ธTime Reversal Zone(TRZ)โซ๏ธ, and Support line.
๐กAlso, we can see Regular Divergence(RD+) between two Consecutive Valleys.
๐I expect Synthetix (SNX) to start rising soon and go UP to at least the top of the descending channel after breaking the Resistance line and possibly breaking this channel.
--------------------------------------------------------------------------------
SNXUSD๐(SPOT)
๐ขPosition: Long
โ Entry Point: 3.280 USDย (Stop Limit Order)
โ๏ธStop Loss: 2.880 USD
๐ฐTake Profit:
๐ฏ3.679 USD RR==1.00
๐ฏ3.987 USD (Over โ20%)
Risk-To-Reward: 1.77
Please don't forget to follow capital management โ ๏ธ
Please pay attention to the style of opening the position.โ ๏ธ
--------------------------------------------------------------------------------
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Synthetix Analyze (SNXUSD), 4-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
ืขืกืงื ืคืขืืื
ืืขืจื:
I expect the SNX to trend higher in the coming hours.
ืืขืจื:
Still valid.
ืขืกืงื ืกืืืจื: ืืืขื ืืืฉื
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