- Bullish SNX price prediction ranges from $3.77 to $7.83.
- SNX price might also reach $10 this 2022.
- SNX’s bearish market price prediction for 2022 is $1.41.
Synthetix (SNX) is an Ethereum-based token for derivatives, decentralized finance, and services. Its token is denoted with SNX.
Synthetix (SNX) investors are bullish on the token since it has had a return on investment (ROI) of over 100 times in the past four years. The crypto bubble of 2021 led to an increase in the price of SNX to its present all-time high (ATH) of $28.77, which was attained in February 2021. Irrespective of the recent crypto winter, SNX investors are confident that the future of SNX is bullish.
If you are interested in the future of Synthetix (SNX) and want to know the price analysis and price prediction of SNX for 2022, 2023, 2024, 2025, 2026, and up to 2030, keep reading this Coin Edition article.
What is Sythtetix (SNX)?
Synthetix token (SNX) is the native token of the Synthetix network. It was founded in September 2017 by Kain Warwick. SNX is used to pay for services within the Synthetix protocol.
At present, SNX is multichain and can be transferred within the Ethereum blockchain and Solana blockchain. Heco blockchain, Fantom blockchain, and Binance Smart Chain. It is used in its derivative market and decentralized finance (DEFI).
With the use of Optimistic Ethereum mainnet, the gas fee is reduced. During its launch, the protocol was called Havven (HAV) before rebranding to Synthetix in 2018. Users who stake their SNX receive rewards from the pool.
Cryptocurrency users who wish to own known crypto assets can trade them on the Synthetix protocol. Such investments are voted into existence by the Synthetix community. The assets can be in the form of stocks, fiats, cryptocurrencies, derivatives, and others.
Synthetix (SNX) Current Market Status
The maximum supply of Synthetix (SNX) is 291,657,310 SNX, while its circulating supply is 234,504,535 SNX, according to CoinMarketCap. At the time of writing, SNX is trading for $3.31, representing a 24 hours increase of 9.49%. The trading volume of SNX in the past 24 hours is $222.26 million, representing an 82% increase.
Some top cryptocurrency exchanges for trading Synthetix (SNX) are Binance, Huobi Global, Gate.io, Kucoin, and others.
Now that you know what SNX is and its current market status, we shall discuss the price analysis of Synthetix (SNX) for 2022.
Synthetix (SNX) Price Analysis 2022
Currently, SNX is ranked in the 57th position on CoinMarketCap. Will developments and upgrades within the Synthetix community lead to a rising price of Synthetix (SNX)? We shall see in this condition the price analysis 2022 article.
Synthetix (SNX) Price Analysis – Keltner Channel
Keltner Channel is a technical analysis indicator used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for Synthetix (SNX), it could be seen that the present bullish run could continue since the recent candlesticks are within the first half of the chart from the bottom. Also, since the last candlestick is bullish, the present increase in the price of SNX might be sustained before any reversal would be expected.
Synthetix (SNX) Price Analysis – Relative Strength Index
The Relative Strength Index (RSI) is a technical analysis indicator that measures the relative momentum in the magnitude and speed of recent price changes of an asset to deduce if it is an oversold or overbought asset. The RSI value of Synthetix (SNX) 1day chart of SNX/USDT is 50.61. This shows that SNX is showing a strong trend between 50 and 70. This value could trigger a further bullish run if more buyers could be attracted to gain from the expected price increase to the 70 RSI value, which is the overbought region, before any price correction soon.
Synthetix (SNX) Price Analysis – Moving Averages
The chart above shows the 1Day chart of SNX 200-day and 100-day Moving Average (MA). The recent uptrend indicates that SNX is on a bullish trend. Since the 200-MA is above the 100-MA, we can deduce that the price is bullish for long-term holders.
Also, since the gap between the moving averages is wide and within the recently formed candlesticks, the price of Synthetix (SNX) might experience a significant rise or fall in the future.
Synthetix (SNX) Price Prediction 2022
Looking at the daily chart of SNX/USDT, SNX price was swinging from $4.43 resistance2 to $3.77 resistance1 after touching the support levels of $3.09 and $2.59. It reversed from the support level of $2.59 and now going sideways in the market and is expected to be bullish in the coming weeks.
Meanwhile, our long-term SNX price prediction for 2022 is bullish since it cannot break the present support level soon. We can expect SNX to reach $10 in 2022.
Synthetix (SNX) Price Prediction – Resistance and Support Levels
This bullish chart shows that the price of SNX has increased by 10% in the past seven days. If this price increase continues, SNX could break the $3.77 resistance1 level, move higher to $7.83 at the resistance7 level, and even higher, the bullish signal for 2022.
However, if sellers have their way, the price of SNX might be dethroned from its present uptrend position. In simpler terms, SNX might trend below the $1.41 support4 level and even lower in 2022, a bearish signal.
Synthetix (SNX) Price Prediction 2023
If Synthetix (SNX) ends in 2022 at $7.83 or more, this will indicate to investors that the effect of the recent crypto winter is over. This is because the price is above the current 90-day high price of SNX, which stands at $4.39 at the time of writing. We can expect the SNX price to rise to $15 by the end of 2023.
Synthetix (SNX) Price Prediction 2024
The cryptocurrency market is known to repeat history, and most cryptocurrencies follow the Bitcoin trend. With 2024 as the year of Bitcoin halving, there will be many sentiments towards the market, which is always bullish. We can expect the price of Synthetix (SNX) to react positively to the news and trade at around $25 by the end of 2024.
Synthetix (SNX) Price Prediction 2025
The effect of any Bitcoin correction is experienced in the following year from recent history. If SNX ends in 2024 for $25 or more, we can expect the price of SNX to bubble at least twice in 2025. This could make SNX trade at $50 or more in 2025, considering investors will be bullish.
Synthetix (SNX) Price Prediction 2026
With the rise in cryptocurrency adoption in the mainstream, we can expect a possible market reversal in 2026 to have little impact on the recent gains in the price of SNX. Hence, Synthetix could end 2026 at around $40 or more. However, more upgrades and the introduction of newer technologies within the Synthetix protocol could make it trade higher.
Synthetix (SNX) Price Prediction 2027
The most bearish market is followed by market consolidation in the next year. If the year 2026 turns out to be bearish for SNX, we could expect the market to stabilize in 2027 and even trade higher. Hence, it is possible to see SNX trade at around $60 in 2027.
Synthetix (SNX) Price Prediction 2028
Synthetix has a very high possibility of trading above its 2025 price prediction of $50 in 2028. This is because of the Bitcoin halving that is expected. With the powerful sentiment of investors to buy more cryptocurrencies, a buy pressure could be seen in the market, which will make SNX trade at around $85 in 2028.
Synthetix (SNX) Price Prediction 2029
Since the most impact of a bullish sentiment that came as a result of Bitcoin halving is mainly experienced in the coming year, we can expect the price of SNX to break more psychological resistances and trade around $200 by the end of 2029.
Synthetix (SNX) Price Prediction 2030
The impact of cryptocurrency adoption could make the market to get stabilize by 2030. This will make the bullish gains of the previous years be sustained. Hence, we can expect the price of SNX to trade above $300 by the end of 2030.
As said above, SNX might reach $10 in 2022 and $300 by 2030 if investors have decided that SNX is a good investment, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Synthetix (SNX) is the native token of the Synthetix protocol. It is an ERC-20 token.
Like other cryptocurrencies, Synthetix (SNX) can be traded in cryptocurrency exchanges like Binance, Huobi Global, Kucoin, Gate.io, and others.
Synthetix has a low possibility of surpassing its present all-time high (ATH) price of $28.77 in 2022.
It was launched in September 2017.
Synthetix (SNX) price is expected to reach $15 by 2023.
Synthetix (SNX) price is expected to reach $25 by 2024.
Synthetix (SNX) price is expected to reach $50 by 2025.
Synthetix (SNX) price is expected to reach $40 by 2026.
Synthetix (SNX) price is expected to reach $60 by 2027.
Synthetix (SNX) price is expected to reach $85 by 2028.
Synthetix (SNX) price is expected to reach $200 by 2029.
Synthetix (SNX) price is expected to reach $300 by 2030.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.