CryptoSignals News
Join our Telegram

Synthetix (SNXUSD) Positions Market Impact in a Bearish Rally

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

Synthetix (SNXUSD) Positions Market Impact in a Bearish Rally

SNXUSD Analysis – Price Positions Market Impact in a Bearish Rally

SNXUSD positions market impact in a bearish conference. The price expansion attained by both the bear and the bull has driven the market, giving rise to the recent market configuration. As long as the price configuration continues to develop over time, the buyers and sellers are the major prospects for changing the price direction. The prospect with enough price influence will impact the market, thereby causing the market to follow a particular trend in the market.


SNXUSD Significant Zones:

Resistance Zones: $15.000, $11.720.
Support Zones: $8.900, $6.300
SNXUSD positions
SNXUSD appears to be in motion, and the price is assumed to systematically fall under the influence of bearish discretion. Since the leverage is with the sellers, they are therefore set to cause the price movement to settle down more in a bearish rally. The rally is therefore anticipated to go down further as price momentum gains more strength. The bulls appear to be struggling to bring the bullish moment to its determined state.

Price orientation implies varied orientation levels in market configuration. The price first kicked off with a strong bullish maximum conference upfront, till the price eventually attained its peak at the $15.000 price level. Following the market distribution, the sellers took a turn at the peak to bring it back, and the price successfully broke through $6.300. The bears are now stern on their way down and are positioned to impact the market level and go lower.

SNXUSD positions
Market Expectation

The 4-hour chart shows price evolution, and the price movement continued below the $6.300 level of significance. SNXUSD bears are insisting on pushing price preference downward, but the bulls in the market are determined to withdraw price movement back to the $6.300 level before the bearish rally continues.

You can purchase crypto coins here: Buy Tokens

Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Recent News

January 15, 2022

Annual Forecast for Cardano (ADA), 2022

Cardano (ADA) Price Long-Term Forecast: BearishCardano’s (ADA) price has been in a downward move  as it finds support above $1.18. ADA’s price is in a false breakout at the $2.50 overhead resistance. The bullish momentum could not be sustained above the overhead resistance as the market...
Read More
March 10, 2024

Compound (COMPUSD) Bulls Lose Balance as Sellers Push Luck

Market Analysis: Compound Buyers Lose Control  Compound bulls lose balance as sellers push luck. The bullish trend began with a glimmer of hope as the price of the cryptocurrency surged above the significant level of $85.360. This initial recovery seemed to signal a potential comeback for the bulls...
Read More

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

arrow Join our free telegram