Recent Developments & Market Context
SNX has experienced an impressive rally recently, jumping roughly 25% in just 24 hours and climbing about 35% over the past week. Much of this excitement stems from its recent listing on Robinhood, which has opened the floodgates to a broader retail audience and sparked fresh buying interest. At the same time, we’re seeing increased activity within the protocol itself, particularly around changes to the sUSD stablecoin—new staking requirements and buyback programs are being rolled out to strengthen its peg and overall value.
Beyond these immediate catalysts, there’s also buzz building around Synthetix’s upcoming perpetual DEX launch on Ethereum Mainnet. This move away from Layer-2 is designed to consolidate liquidity that’s been spread too thin and restore some of the protocol’s original strength and appeal.
Technical Indicators & Price Action Snapshot
Right now, SNX/USDT is trading around 0.383 USD. That 25% jump over the last day speaks to genuine bullish momentum. Looking at the 4-hour chart, here’s what stands out:
- The RSI is hovering near 64.85—comfortably below overbought territory, but definitely trending upward and showing strength.
- The MACD histogram has flipped positive, with the MACD line (0.0231) sitting above the signal line (0.0191). This recent bullish crossover is a good sign for continued upside.
- Both the 4-hour SMA (around 0.329) and EMA (roughly 0.3412) are sitting well beneath the current price, reinforcing that the momentum is tilted to the upside.
Looking at daily pivot levels, traders are eyeing resistance around 0.3993, 0.4157, and 0.4283. On the downside, key support zones are at approximately 0.3867 (the pivot), with stronger floors at 0.3703, 0.3577, and 0.3413 if things turn south.
Price Forecast & Strategic Levels
Short-Term (Next Few Days)
With SNX breaking cleanly above both the 4-hour EMA and SMA, there’s a decent chance we’ll see a test of the 0.40 to 0.42 resistance zone soon. If buyers stall out there, don’t be surprised to see some profit-taking that pushes price back toward 0.3867 or even 0.3703, particularly if volume starts to fade. The good news is that RSI still has breathing room before hitting overbought levels, so there’s space for more upside without immediate reversal pressure.
Medium-Term (1–4 Weeks)
If the bulls stay in control and the hype around the Robinhood listing, sUSD improvements, and perpetual DEX launch keeps building, SNX could realistically push toward the 0.45 to 0.50 range in the coming weeks. On the flip side, if momentum falters and price drops below 0.35, we’d likely see a retracement back toward the 0.30 to 0.32 support area. Keep an eye on volume and the MACD—if the MACD crosses back below the signal line or RSI takes a dive, the trend could lose steam quickly.
Outlook & Key Watchpoints
Overall, the technical picture for SNX looks cautiously bullish. Momentum is building nicely, but it’s important to stay grounded—while fundamentals are improving, actual adoption is still relatively modest, and the price is nowhere near its previous highs. If the recent catalysts continue to deliver real traction—more exchange listings, increased DEX usage, and stablecoin stability—SNX could sustain this upward move. But if not, expect some volatility and potential pullbacks to support levels as traders lock in profits.
