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SNX price faced rejection from the 200-day EMA in the past few sessions.
2
Buyers are looking weak and unable to escape the primary hurdle of $2.50.
Synthetix (SNX) price forms a symmetrical triangle pattern and hovers near the lower trendline of $2.050. Moreover, the price action shows that SNX price failed to surpass the 200-day EMA and stayed in a narrow congestion zone, indicating weak cues on the charts. Furthermore, the SNX price is trading below the significant moving averages and trying to sustain the 20-day EMA for the past sessions. SNX price is forming lower lows and suggests a breakdown below $2.000. Moreover, if the price slips below the trendline, it could go toward $1.300, as shown by the curve on the chart.
SNX price action indicates bearishness. Staying in the bear trajectory suggests follow-on selling is likely, and that SNX could break down soon. Furthermore, sellers persisted in short buildups and are looking to drag SNX price below
We współpracy z: https://www.thecoinrepublic.com/2023/09/22/snx-price-prediction-snx-shows-weak-cues-will-it-hold-2/
