Synthetix is a decentralized liquidity pool provision protocol where users can borrow liquidity at low fees. Anyway, after a huge rise, SNX has been in a downtrend for a while. Recently, SNX broke the downtrend line as well as the minor one. Let's see how far SNX can go.
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After SNX made a double bottom and broke the major downtrend line, now SNX is moving in a triangle pattern. Let's see what happens.
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SNX broke the triangle pattern upward; up it goes.
Be careful; a pullback could happen.
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So, SNX broke the triangle pattern upward, gone up, and made a nice pullback on the triangle's upper line. Probably resting a little more here; Let's see when SNX continues upward wave.
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So, as it turned out, SNX is moving in an inverted wedge pattern. Currently, at the bottom, broken the minor downtrend line and is going up. Let's see what happens.
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So, SNX broke the downtrend line and is going up toward the inverted wedge's upper line and the major horizontal area. Let's see what happens.
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.