The Hourly View for Synthetix

• At the moment, SNX’s price is down $-0.09 (-0.95%) from the hour prior.
• This is the 2nd hour in a row Synthetix has seen its price head down.
• If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
• The moving averages on the hourly 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.

Synthetix’s hourly price chart is shown below.

The Daily View for Synthetix

• At the time of this writing, SNX’s price is down $-0.09 (-0.99%) from the day prior.
• This is the 2nd day in a row Synthetix has seen its price head down.
• As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
• Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them so that price is now turning below it. 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.
• Divergence between SNX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in SNX’s price.

Below is a daily price chart of Synthetix.

The Latest From SNX’s Blockchain

• Over the past 29 weeks, the trend for SNX’s average transaction value has been choppy and unclear. It has oscillated between 505.1744 and 17181.9661.
• SNX’s average transaction value now stands at 2235.0126.
• SNX has a count of active addresses of 958, up 7.64% from its value day prior.

The post Is Momentum Changing for Synthetix? Price Just Crossed Above Its 20 Day Moving Average appeared first on CFDTrading.