Synthetix Price Prediction – May 29
The Synthetix price prediction shows that SNX is beginning to restart the uptrend after trading below the moving averages.
SNX/USD Market
Key levels:
Resistance Levels: $4.0, $4.2, $4.4
Support Levels: $1.4, $1.2, $1.0
SNX/USD looks green today as the price hovers above the resistance level of $2.4. However, a daily close above the $2.5 level may increase the Synthetix price to $3.0. However, traders should note that a consistent price increase may bring more buyers into the market as bulls increase their positions.
Synthetix Price Prediction: Price May Begin to Break Higher
In the past few days, after the Synthetix price crossed above the 9-day moving average, SNX/USD is now looking forward to breaking above the 21-day moving average. Moreover, the daily chart reveals that if the 9-day moving average crosses above the 21-day moving average, it will push the coin to the upside.
Meanwhile, the bears may take advantage to break towards the lower boundary of the channel if the bulls fail to move the price upward. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross above 40-level. More so, if the Synthetix price stays above the moving averages, it could hit the resistance levels of $4.0, $4.2, and $4.4 but facing the south may bring the price to the supports at $1.4, $1.2, and $1.0.
SNX/BTC Market: Price Remains at the Downside
Against Bitcoin, the Synthetix price is hovering above the 9-day moving average. However, intraday trading is ranging as the coin moves to cross above the 21-day moving average, which could reach the resistance level at 1100 SAT and above.
On the contrary, if the sellers bring the market to the south, traders can expect a fall below the lower boundary of the channel, breaking below this barrier may hit the support at 700 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) crosses above the 40-level, suggesting more bullish signals.
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