Recent News & Market Context
SNX just put in an impressive performance over the last 24 hours, climbing roughly 21% from its low to high. This kind of move signals that momentum is back in what’s been a pretty wild ride for this DeFi token. What’s encouraging is that trading volume jumped alongside the price action, which tells us real traders are involved—not just some thin-market pump. One of the bigger catalysts here is SNX getting listed on Robinhood Crypto, opening the doors to U.S. retail traders and likely giving liquidity a nice boost. The Synthetix team keeps pushing forward with their perpetual DEX on Ethereum, multi-collateral margin features, and more market options—all things that could keep bullish vibes going in the medium term. Worth noting: Binance recently pulled SNX from some margin trading pairs. That might actually reduce leverage-driven selloffs, though it does cut off certain speculative activity.
Technical Indicators: Momentum, Support, & Resistance
Right now, SNX/USDT is sitting around $0.4031, up 7.40% in the last day. Looking at the 4-hour chart, the RSI is hovering near 64.8—strong momentum territory, but not quite overbought yet. The MACD is telling a similar story, with the line above the signal (roughly 0.02639 versus 0.02351) and a small positive histogram suggesting the bulls still have some room to run. The key moving averages on the 4-hour timeframe—SMA around $0.3448 and EMA near $0.3579—are both well below current price, which backs up this short-term uptrend.
Zooming out to the daily chart, standard pivot levels paint a clearer picture of where the battles might happen. Immediate resistance is lurking around $0.41299, with higher hurdles at $0.42399 and $0.43099. On the flip side, support starts at $0.39499, then drops to $0.38800 and $0.37700 if things get shaky. The pivot point itself sits at $0.40600—think of it as the line in the sand. Above it, bulls are in charge. Below it, bears start getting ideas.
Key Levels to Watch
- Resistance zones: Keep your eye on the $0.412-$0.430 range. If we break cleanly through $0.43099, there’s potential for a run toward $0.45-$0.48.
- Support zones: $0.39499 is your first line of defense. If that cracks, look for catches around $0.388 and $0.377 if selling pressure picks up.
- Moving averages: Those 4-hour averages around $0.345-$0.358 are acting as safety nets for now, while daily moving averages are sitting quite a bit higher.
Price Prediction Scenarios
Given where momentum sits right now and what the technicals are showing, we’re looking at two main paths for SNX over the next week or two.
Bullish Breakout Scenario: If SNX manages to punch through that $0.412 resistance with solid volume and holds above the $0.406 pivot, we could see a move toward $0.43099 pretty quickly. If the broader crypto market stays friendly and buyers keep showing up, there’s even room for a stretch toward $0.48. The 4-hour MACD and RSI both look ready to support that kind of move—as long as we don’t see heavy profit-taking kick in.
Bearish Pullback Scenario: On the other hand, if SNX can’t hold above $0.412 or slips back under that $0.406 pivot, we’re probably looking at a retest of support around $0.395. If that level gives way, things could get uncomfortable fast, with drops toward $0.388 or even $0.377 on the table. The danger really ramps up if volume starts drying up or if the broader crypto market catches a cold.
Time-frame wise
For day traders, it makes sense to look for long setups above $0.406 but keep stops tight below $0.395. If you’re swinging on the 4-hour chart, that $0.430 resistance is your target. Expect things to stay choppy over the next day or two—volatility is probably going to be elevated. Looking out over the week, though, the bias leans bullish if SNX can hold above key levels and keep riding the wave from both institutional interest and retail hype.
