Key takeaways:
The average SNX price prediction for 2024 is $2.04.
In 2027, it will range between $5.31 and $6.23, with an average price of $5.50.
In 2030, it will range between $17.04 and $21.20, with an average price of $17.53.
SNX is the native token for the Synthetix Network and is used for governance. It is listed on top exchanges like Binance, Uniswap, Coinbase, OKX, and Bybit. Synthetic is a decentralized protocol that allows you to create and transact synthetic tokens on the Ethereum blockchain.
Is SNX a good investment? Will it go up? Where will it be in five years? Let’s get into the SNX price prediction and technical analysis.
Overview
CryptocurrencySynthetixAbbreviationSNXCurrent Price$1.429Market Cap$470,079,626.66Trading Volume$16,374,911.48Circulating Supply327,769,196.14 SNXAll-time High$28.77 (Feb 14, 2021)All-time Low$0.03258 (Jan 5,2019)24-hour High$1.4824-hour Low$1.42
SNX price prediction: Technical analysis
MetricValueVolatility (30-day Variation)10.51%50-day SMA$ 1.480737200-day SMA$ 2.48SentimentNeutralFear & Greed Index50 (Neutral)Green Days18/30 (60%)
Synthetix price analysis: SNX value depreciates to $1.429 low
TL;DR Breakdown
Synthetix price analysis confirms a downward trend at $1.429.
SNX coin has lost up to 3.86% of value during the day.
Cryptocurrency prices are seeking resistance at $1.652.
On 17 October 2024, Synthetix price analysis confirmed a downward trend for the cryptocurrency. Coin value has deteriorated to $1.429 low in the past 24-hours. Moreover, if observed overall, the coin has devalued up to 3.86% today. The bears remained dominant throughout the past week, resulting in massive decline.
SNX/USD 1-day chart: Bearish tide leads to deterioration below $1.429
The 1-day price chart of SNX coin revealed a declining trend for the cryptocurrency. Coin value has dropped down to $1.429 low during the day. Side by side, the overall market sentiment remains negative. As the volatility is shrinking rapidly, this refers to a lower chance of reversal in the market events.
The distance between the Bollinger bands defines market volatility. As this distance is converging, the volatility levels are decreasing. Moving on, the upper Bollinger band is at $1.652, acting as the resistance band. Whereas, the lower Bollinger band is at $1.273, indicating the support.
SNX/USD 1-day Chart. Source: TradingView
The Relative Strength Index (RSI) indicator is situated within the neutral area. Its value has depreciated to index 46.76, low. The RSI graph displays a steep, bearish slope. The selling activities remained considerably high in the past 24-hours. If the selling pressure continues to accelerate, further decline might be possible soon.
SNX/USD 4-hour chart analysis
The four-hour price analysis of SNX coin revealed an increasing trend for the currency. SNX/USD value has been reduced to $1.429 low in the past few hours of the day. Despite the earlier decline, currently the bulls have bounced back. Considering the earlier descent, the coin value stands below the moving average.
The Bollinger bands are expanding, leading to a rise in volatility levels. This increase indicates higher market unpredictability for the currency. Moreover, the upper limit of the Bollinger bands indicator, serving as the resistance, is at $1.569. Conversely, its lower limit, acting as the support, is at $1.416 end.
SNX/USD 4-hour Chart. Source: TradingView
The RSI indicator is present in the neutral region. Its value has increased to 39.38 high in the past few hours. The ascending curve on the RSI graph refers to a bullish market. The buying activities have been dominating over the selling activities today. If the buying pressure continues to intensify, the market can enter a period of stability.
SNX technical indicators: Levels and action
Daily simple moving averages
PeriodValue ($)ActionSMA 3 1.582544BUYSMA 5 1.582518BUYSMA 10 1.609883BUYSMA 21 1.564746BUYSMA 50 1.480737BUYSMA 100 1.60414BUYSMA 200 2.48SELL
Daily exponential moving averages
PeriodValue ($)ActionEMA 3 1.537755BUYEMA 5 1.49647BUYEMA 10 1.450733BUYEMA 21 1.452734BUYEMA 50 1.615163BUYEMA 100 1.963061SELLEMA 200 2.40SELL
What can we expect from SNX price analysis next?
Synthetix price analysis for the day gives out a highly bearish prediction for the cryptocurrency. Coin value has declined to $1.429 low during the day. If we discuss the market, sentiment remains on the negative side as well. Overall, the cryptocurrency has lost up to 3.86% of its value today. Red candlesticks on the one-day price chart refer to a negative price movement. Technical indicators are giving out a bearish verdict; side by side, the price charts continue to support the sellers as well.
Is SNX a good investment?
The Synthetix rebranding in 2018 rejuvenated the ecosystem, which has grown continually with multiple listed synths. Despite concerns over the stability of its stablecoins, SNX, the native token, is set to mark new records, as we shall explore in Cryptopolitan’s SNX price predictions from 2024 to 2030. It is expected that SNX will reach $44 by 2030.
Why is SNX down?
The cryptocurrency market is under bearish pressure, and SNX faces the same sentiment. However, it is still encouraging that SNX is one of the best performers and has moved above its average since August 13, 2024. The SNX price has decreased to $1.429; moreover, it has lost up to 3.86% of its value since the last 24 hours
Will SNX reach $5?
The current price action does not justify predicting a $5 target. However, in the cryptocurrency market, things change rapidly, and if RSI returns from the oversold zone, a recovery can be initiated. It can be expected that SNX will reach $5 by 2026.
Will SNX reach $10?
According to Cryptopolitan’s price prediction, SNX will reach the $10 level by the fourth quarter of 2026. The last time SNX was seen at the $10 level was November 2021.
Will SNX reach $100?
According to Cryptopolitan’s price prediction, SNX may not reach this level in the next ten years. Considering the current market cap of the token, it seems like $100 too far-fetched.
Does SNX have a good long-term Future?
SNX is nearing an oversold position, which means the token is undervalued compared to its actual worth, which makes it a perfect time for buyers to enter the market. Considering the low price and a good future evaluation of $23 by the end of 2030, the asset is worth buying.
Recent news/ updates on SNX
A proposal to restructure and enhance Synthetix governance and provide the protocol with a defined 2025 vision was put forth in a referendum last week. A review of the Town Hall where this was discussed has been written by SNXweave.
SNX price prediction October 2024
SNX downfall is expected to slow down. Support is also expected to appear soon with the next target at $1.64. It will average at $1.41 and trade at a minimum price of $1.19.
MonthPotential Low ($)Potential Average ($)Potential High ($)October$1.30$1.541.78
SNX price prediction 2024
The price of SNX is predicted to reach a minimum value of $1.82 by Q4 of 2024. Traders can anticipate a maximum value of $2.04 and an average trading price of $1.90.
YearPotential Low ($)Potential Average ($)Potential High ($)2024$1.82$1.90$2.04
SNX price prediction 2025 – 2030
YearPotential Low ($)Potential Average ($)Potential High ($)20252.512.613.1620263.623.754.4220275.315.506.2320287.777.999.17202911.9912.3113.99203017.0417.5321.20
SNX price prediction 2025
The Synthetix price forecast for 2025 is a high of $3.16. The minimum price for the year will be $2.51, and the average will be $2.61.
SNX price prediction 2026
The year 2026 will experience more bullish momentum. According to the SNX price prediction, it will range between $3.62 and $4.42, with an average trading price of $3.75.
SNX price prediction 2027
The SNX price prediction climbs even higher into 2027. According to the projections, the price of SNX will range between $5.31 and $6.23, with an average of $5.50.
SNX price prediction 2028
According to our SNX price prediction for 2028, we expect a maximum price of $9.17, a minimum price of $7.77, and an average price of $7.99.
SNX price prediction 2029
According to the SNX price prediction 2029, SNX will reach a maximum and minimum price of $13.99 and $11.99, respectively, with a year-round average of $12.31.
SNX price prediction 2030
The Synthetix SNX price prediction for 2030 indicates a price range of $17.04 and $21.20 and an average price of $17.53. This prediction also hinges on the global recognition and adoption of blockchain technology.
Synthetix market price prediction: Analysts SNX price forecast
Firm20242025Changelly$4.08$5.95DigitalCoinPrice $5.44$6.44CryptoPredictions$4.37$4.86
Cryptopolitan’s Synthetix (SNX) price prediction
Our analysis shows that SNX has been highly volatile since its historical listing price. It remains range-bound at current levels, with predictions indicating it will break out higher. SNX will achieve a high of $1.64 by the end of 2024. SNX is expected to trade between $2.18 and $2.57 in 2025. In 2030, SNX will be priced between $13.47 to $16.37 with an average price of $13.95.
Synthetix historic price sentiment
Kain Warwick launched Synthetix in September 2017 under Havven (HAV).
The HAV Airdrop Campaign ran between 4 and 14 February 2018 and offered two million tokens for around $1 million.
On November 30, 2018, Synthetic announced its rebranding from Havven. This included renaming its native token, HAV (Havven token), to SNX. The contract address did not change.
It registered its lowest price at $0.03258 on January 5, 2019.
Different from most mega-altcoins, SNX did not rally after launch; it consistently traded below $0.5 until the last quarter of 2019.
In 2020, it made a mega rally to $7.3. In the 2021 bull cycle, it shot higher, and on February 14, it registered its all-time high at $28.77.
It reversed to $5 in July before pumping again to $15 in September.
In the 2022 crypto winter, SNX shed most of its value as it retreated to the $2 mark by the end of the year.
In 2023, it consistently traded between $1.5 and $3 until the last quarter, when it had its break.
In March 2024, SNX reached a high of $5; in July, SNX came down from $2.01 to $1.65 range.
In August 2024, SNX token’s price dipped as low as $1.20, and September saw a maximum price of $1.71.
In October 2024, SNX is trading near $1.61 range after correcting slightly.
This articles is written by : Fady Askharoun Samy Askharoun
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