Synthetix is Down for the 3rd Day in a Row

The Hourly View for Synthetix

  • Currently, SNX’s price is down $-0.16 (-1.63%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as Synthetix has now gone up 4 of the past 5 hours.
  • Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Synthetix’s hourly price chart is shown below.

SNX

The Daily View for Synthetix

  • At the time of this writing, SNX’s price is down $-0.16 (-1.66%) from the day prior.
  • Synthetix has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Of note is that the 20 day changed directions on SNX; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Synthetix.

SNX

The Latest From SNX’s Blockchain

  • SNX has a daily large transaction count of 64, up 3.23% from its value day prior.
  • Over the past 29 weeks, the trend for SNX’s count of active addresses has been choppy and unclear. It has oscillated between 557 and 5354.
  • For SNX, its count of active addresses is now at 707.

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